Is Manhattan, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Manhattan is a buyer's market

Buyer's
Market

Difference Since August 2021

At the same time last year, Manhattan was a Neutral Market.

Key Takeaway

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

How much do homes in Manhattan, NY cost?

Median Sold Price

$1,372,943

$1,438/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$84,448(+6.6%)

Key Takeaway

Homes in Manhattan have sold for 6.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $769.1K$803.5K
+4.5%
2 $1.4M$1.5M
+6.3%
3 $2.6M$2.8M
+9.4%
4 $4.5M$5.0M
+11.1%
5+ $7.2M$7.5M
+3.6%

How many homes are available in Manhattan, NY?

Number of Homes For Sale

Jul 2022Aug 2022%
9,4009,196-2.2%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 3,4483,396
-1.5%
2 3,1763,100
-2.4%
3 1,6301,574
-3.4%
4 628618
-1.6%
5+ 518508
-1.9%

Number of Homes Sold

Jul 2022Aug 2022%
835851+1.9%

Asking Price vs. Sold Price

51 Homes Were Sold
Under Asking

789 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Manhattan, expect to pay close to the asking price. 92.7% of homes here sold near the asking price last month.

Average Sale Time

Aug 2021Aug 2022%
88 Days156 Days+76.6%

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Manhattan has remained consistent over time.

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

About Manhattan, NY

Manhattan, NY has 9,196 homes for sale to choose from. The inventory of homes for sale in Manhattan, NY between July 2022 and August 2022 decreased by 2.2%. While the average time on the market in August 2022 was 156 days, the median list price was $1,372,943. Listing prices have changed in this real estate market between July 2022 and August 2022: prices of 1 bedroom properties increased by 4.5%, 2 bedrooms properties prices increased by 6.3%, prices of 3 bedrooms properties went up by 9.4%, prices of 4 bedrooms properties went up by 11.1%, 5 bedrooms properties prices increased by 3.6%. Housing inventory have changed in this real estate market: volume of 1 bedroom homes went down by 1.5%, the quantity of 2 bedrooms homes went down by 2.4%, 3 bedrooms homes inventory decreased by 3.4%, 4 bedrooms homes inventory decreased by 1.6%, 5 bedrooms homes became 1.9% less available. Manhattan, NY housing market in August 2022 saw over 11 listings sold above listed price, more than 789 sold at listed price and over 51 sold below.

Related Housing Market Reports