Is Midtown East, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Midtown East is a buyer's market

Buyer's
Market

Difference Since May 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

$1,106,239

$1,203/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$44,118(-3.8%)

Key Takeaway

Homes in Midtown East have sold for 3.8% less than they did a year ago.

Summary: The median home sold price in Midtown East was $1,106,239 in May 2024, down 3.8% from last year, and the median price per square foot was $1,203.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $730K$697.1K
-4.5%
2 $1.4M$1.3M
-9.5%
3 $2.3M$2.7M
+18.3%
4 $3.1M$3.7M
+21.4%
5+ $5.6M$6.7M
+20.1%

Summary: Midtown East housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.5%, 2 bedroom homes decreased by 9.5%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 20.1%.

Median Sold Price Compared To Nearby Neighborhoods

Sutton Place
-2.4%
Midtown East
-3.8%
Turtle Bay
-8.7%
Theater District
-16.8%

Housing Supply in Midtown East, NY

How many homes are available in Midtown East, NY?

Number of Homes For Sale

Apr 2024May 2024CHANGE
921935+1.5%

Summary: The Midtown East real estate market had 935 homes for sale in May 2024, a 1.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 325344
+5.8%
2 328308
-6.1%
3 171172
+0.6%
4 5770
+22.8%
5+ 4041
+2.5%

Summary: The Midtown East housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.8%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 22.8%, and 5+ bedroom homes increased by 2.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
5963+6.8%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

54 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Midtown East, expect to pay close to the asking price. 85.7% of homes here sold near the asking price last month.

Summary: A total of 63 homes were sold or pending in Midtown East in May 2024, up by 6.8% month-over-month. Of the 63 sold homes, 13% were sold under asking, 86% 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?

Average Sale Time

May 2023May 2024CHANGE
243 Days134 Days-44.9%

Summary: Homes in Midtown East had an average of 134 days on market in May 2024, down by 44.9% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Midtown East has remained consistent over time.

Summary: During May 2024, 63 homes were sold in Midtown East; 0% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.

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

Report Updated 12 Days Ago

Newest Listings in Midtown East, NY

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