Is Lower Manhattan, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lower Manhattan has remained a Buyer's Market.
Housing Prices in Lower Manhattan, NY
How much do homes in Lower Manhattan, NY cost?
Median Sold Price
$1,828,965
$1,746/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lower Manhattan was $1,828,965 in April 2024, up 6% from last year, and the median price per square foot was $1,746.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $1.0M | $1.0M | +8.5% |
2 Bedrooms | $2.2M | $2.1M | -2.3% |
3 Bedrooms | $4.1M | $4.2M | +3.6% |
4 Bedrooms | $6.9M | $7.1M | +3.3% |
5+ Bedrooms | $9.8M | $11.0M | +11.7% |
Summary: Lower Manhattan housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.5%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Neighborhoods
Lower Manhattan | $1.7M | $1.8M | +6.0% |
TriBeCa | $3.6M | $3.4M | -4.4% |
Chinatown | $3.4M | $3.1M | -7.4% |
Financial District | $1.3M | $1.0M | -18.6% |
Housing Supply in Lower Manhattan, NY
How many homes are available in Lower Manhattan, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,380 | 1,371 | -0.7% |
Summary: The Lower Manhattan real estate market had 1,371 homes for sale in April 2024, a 0.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 472 | 468 | -0.8% |
2 Bedrooms | 455 | 458 | +0.7% |
3 Bedrooms | 276 | 256 | -7.2% |
4 Bedrooms | 103 | 113 | +9.7% |
5+ Bedrooms | 74 | 76 | +2.7% |
Summary: The Lower Manhattan housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 0.8%, 2 bedroom homes increased by 0.7%, 3 bedroom homes decreased by 7.2%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 2.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
80 | 99 | +23.8% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
82 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 99 homes were sold or pending in Lower Manhattan in April 2024, up by 23.8% month-over-month. Of the 99 sold homes, 16% were sold under asking, 83% were sold at asking, and 1% were sold over asking.
Days on Market for Lower Manhattan, NY
How long does it take to sell a home in Lower Manhattan, NY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
45 Days | 40 Days | -10.0% |
Summary: Homes in Lower Manhattan had an average of 40 days on market in Apr 2024, down by 10% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 99 homes were sold in Lower Manhattan; 0% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.