Is Koreatown, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Koreatown was a Neutral Market.
Key Takeaway
Koreatown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Koreatown, NY
How much do homes in Koreatown, NY cost?
Median Sold Price
$1,925,000
$1,583/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Koreatown have sold for 18.1% less than they did a year ago.
Summary: The median home sold price in Koreatown was $1,925,000 in April 2024, down 18.1% from last year, and the median price per square foot was $1,583.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $2.1M | $1.5M | -27.4% |
| 2 Bedrooms | $3.7M | $1.9M | -48.2% |
| 3 Bedrooms | $7.0M | $3.2M | -54.5% |
| 4 Bedrooms | $7.8M | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Koreatown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 27.4%, 2 bedroom homes decreased by 48.2%, 3 bedroom homes decreased by 54.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Garment District | $837K | $1.2M | +50.8% |
| Murray Hill | $894.5K | $900K | +0.6% |
| Kips Bay | $850K | $849K | -0.1% |
| Midtown Manhattan | $1.3M | $1.2M | -4.9% |
| Koreatown | $2.3M | $1.9M | -18.1% |
Housing Supply in Koreatown, NY
How many homes are available in Koreatown, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 42 | 35 | -16.7% |
Summary: The Koreatown real estate market had 35 homes for sale in April 2024, a 16.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 11 | -15.4% |
| 2 Bedrooms | 21 | 17 | -19.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Koreatown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15.4%, 2 bedroom homes decreased by 19%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Koreatown, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Koreatown in April 2024, the same as the previous month. Of the 4 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Koreatown, NY
We’re sorry, we don't have information for this market at the moment
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