Is Hell's Kitchen, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hell's Kitchen is a buyer's market

Buyer's
Market

Difference Since November 2023

Since last year, Hell's Kitchen has remained a Buyer's Market.

Key Takeaway

Hell's Kitchen is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Hell's Kitchen, NY

How much do homes in Hell's Kitchen, NY cost?

Median Sold Price

$1,100,000

$1,419/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$45,000(-3.9%)

Key Takeaway

Homes in Hell's Kitchen have sold for 3.9% less than they did a year ago.

Summary: The median home sold price in Hell's Kitchen was $1,100,000 in November 2024, down 3.9% from last year, and the median price per square foot was $1,419.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $900K$832.5K
-7.5%
2 $1.6M$1.6M
-2.9%
3 $2.6M$2.7M
+1.0%
4 $3.5M$6.4M
+82.0%
5+ $22.5M-
N/A

Summary: Hell's Kitchen housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.5%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 82%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Midtown East
+0.7%
Midtown Manhattan
-0.3%
Theater District
-1.1%
Hell's Kitchen
-3.9%

Housing Supply in Hell's Kitchen, NY

How many homes are available in Hell's Kitchen, NY?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
200181-9.5%

Summary: The Hell's Kitchen real estate market had 181 homes for sale in November 2024, a 9.5% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 9987
-12.1%
2 6659
-10.6%
3 2322
-4.3%
4 56
+20.0%
5+ 77
0.0%

Summary: The Hell's Kitchen housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.1%, 2 bedroom homes decreased by 10.6%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
167-56.3%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hell's Kitchen, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 7 homes were sold or pending in Hell's Kitchen in November 2024, down by 56.3% month-over-month. Of the 7 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Hell's Kitchen, NY

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 12 Days Ago

Newest Listings in Hell's Kitchen, NY

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