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.
Key Takeaway
Lower Manhattan is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
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
Key Takeaway
Homes in Lower Manhattan have sold for 6% more than they did a year ago.
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
Key Takeaway
If you're buying a home in Lower Manhattan, expect to pay close to the asking price. 82.8% of homes here sold near the asking price last month.
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
Key Takeaway
Avg time on Rocket Homes in Lower Manhattan has remained consistent over time.
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.
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Information being provided by Brooklyn Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. 
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.