Is Manhattan, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Manhattan has remained a Buyer's Market.
Housing Prices in Manhattan, NY
How much do homes in Manhattan, NY cost?
Median Sold Price
$1,353,982
$1,405/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Manhattan was $1,353,982 in June 2024, down 1.2% from last year, and the median price per square foot was $1,405.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $827.3K | $814.6K | -1.5% |
2 Bedrooms | $1.6M | $1.5M | -4.7% |
3 Bedrooms | $2.9M | $2.9M | -1.2% |
4 Bedrooms | $4.8M | $5.2M | +9.1% |
5+ Bedrooms | $8.0M | $6.6M | -16.9% |
Summary: Manhattan housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes decreased by 4.7%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 16.9%.
Housing Supply in Manhattan, NY
How many homes are available in Manhattan, NY?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
7,635 | 6,969 | -8.7% |
Summary: The Manhattan real estate market had 6,969 homes for sale in June 2024, a 8.7% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2,569 | 2,291 | -10.8% |
2 Bedrooms | 2,521 | 2,297 | -8.9% |
3 Bedrooms | 1,394 | 1,272 | -8.8% |
4 Bedrooms | 618 | 572 | -7.4% |
5+ Bedrooms | 533 | 537 | +0.8% |
Summary: The Manhattan housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10.8%, 2 bedroom homes decreased by 8.9%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes increased by 0.8%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
608 | 608 | 0.0% |
Asking Price vs. Sold Price
100 Homes Were Sold
Under Asking
501 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 608 homes were sold or pending in Manhattan in June 2024, the same as the previous month. Of the 608 sold homes, 16% were sold under asking, 82% were sold at asking, and 1% were sold over asking.
Days on Market for Manhattan, NY
How long does it take to sell a home in Manhattan, NY?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
76 Days | 271 Days | +256.8% |
Summary: Homes in Manhattan had an average of 271 days on market in Jun 2024, up by 256.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During June 2024, 608 homes were sold in Manhattan; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.