Is Manhattan, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$1,360,590
$1,412/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Manhattan was $1,360,590 in March 2024, down 1.1% from last year, and the median price per square foot was $1,412.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $829.5K | $800.6K | -3.5% |
2 Bedrooms | $1.6M | $1.5M | -0.4% |
3 Bedrooms | $2.9M | $2.9M | +2.3% |
4 Bedrooms | $4.6M | $5.1M | +11.0% |
5+ Bedrooms | $7.9M | $7.0M | -11.7% |
Summary: Manhattan housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.5%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 11%, and 5+ bedroom homes decreased by 11.7%.
Housing Supply in Manhattan, NY
How many homes are available in Manhattan, NY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6,836 | 6,864 | 0.4% |
Summary: The Manhattan real estate market had 6,864 homes for sale in March 2024, a 0.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2,258 | 2,253 | -0.2% |
2 Bedrooms | 2,279 | 2,272 | -0.3% |
3 Bedrooms | 1,251 | 1,283 | +2.6% |
4 Bedrooms | 566 | 556 | -1.8% |
5+ Bedrooms | 482 | 500 | +3.7% |
Summary: The Manhattan housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 0.2%, 2 bedroom homes decreased by 0.3%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes increased by 3.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
408 | 435 | +6.6% |
Asking Price vs. Sold Price
68 Homes Were Sold
Under Asking
362 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 435 homes were sold or pending in Manhattan in March 2024, up by 6.6% month-over-month. Of the 435 sold homes, 16% were sold under asking, 83% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
210 Days | 109 Days | -47.9% |
Summary: Homes in Manhattan had an average of 109 days on market in Mar 2024, down by 47.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During March 2024, 435 homes were sold in Manhattan; 1% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.