Is Midtown East, 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, Midtown East has remained a Buyer's Market.
Key Takeaway
Midtown East is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Midtown East, NY
How much do homes in Midtown East, NY cost?
Median Sold Price
$1,148,888
$1,222/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Midtown East have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Midtown East was $1,148,888 in March 2024, up 3.9% from last year, and the median price per square foot was $1,222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $735K | $714K | -2.9% |
| 2 Bedrooms | $1.4M | $1.3M | -4.0% |
| 3 Bedrooms | $2.1M | $2.9M | +33.8% |
| 4 Bedrooms | $2.8M | $4.2M | +52.7% |
| 5+ Bedrooms | $5.6M | $7.0M | +25.0% |
Summary: Midtown East housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 33.8%, 4 bedroom homes increased by 52.7%, and 5+ bedroom homes increased by 25%.
Median Sold Price Compared To Nearby Neighborhoods
| Midtown East | $1.1M | $1.1M | +3.9% |
| Turtle Bay | $1.1M | $1.1M | 0% |
| Sutton Place | $997.6K | $992K | -0.6% |
Housing Supply in Midtown East, NY
How many homes are available in Midtown East, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 901 | 862 | -4.3% |
Summary: The Midtown East real estate market had 862 homes for sale in March 2024, a 4.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 322 | 292 | -9.3% |
| 2 Bedrooms | 331 | 317 | -4.2% |
| 3 Bedrooms | 145 | 150 | +3.4% |
| 4 Bedrooms | 64 | 64 | 0.0% |
| 5+ Bedrooms | 39 | 39 | 0.0% |
Summary: The Midtown East housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.3%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 3.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 59 | 47 | -20.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
39 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Midtown East, expect to pay close to the asking price. 83% of homes here sold near the asking price last month.
Summary: A total of 47 homes were sold or pending in Midtown East in March 2024, down by 20.3% month-over-month. Of the 47 sold homes, 15% were sold under asking, 83% were sold at asking, and 2% were sold over asking.
Days on Market for Midtown East, NY
How long does it take to sell a home in Midtown East, NY?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Midtown East are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 47 homes were sold in Midtown East; 2% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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