Is New York, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New York is a buyer's market

Buyer's
Market

Difference Since January 2022

Since last year, New York has remained a Buyer's Market.

Key Takeaway

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

How much do homes in New York, NY cost?

Median Sold Price

$849,589

$636/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$14,733(+1.8%)

Key Takeaway

Homes in New York have sold for 1.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $599.7K$600K
0.1%
2 $897.8K$836.9K
-6.8%
3 $823.5K$847.7K
+2.9%
4 $950.7K$978.6K
+2.9%
5+ $1.1M$1.1M
+6.5%

Median Sold Price Compared To Nearby Cities

Manhattan
+5.4%
Brooklyn
+3.3%
Queens
+2.6%
New York
+1.8%

How many homes are available in New York, NY?

Number of Homes For Sale

Dec 2022Jan 2023%
22,08023,404+6.0%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 5,5225,878
+6.4%
2 5,7226,129
+7.1%
3 4,5994,837
+5.2%
4 2,3452,475
+5.5%
5+ 3,8924,085
+5.0%

Number of Homes Sold

Dec 2022Jan 2023%
1,5581,577+1.2%

Asking Price vs. Sold Price

714 Homes Were Sold
Under Asking

731 Homes Were Sold
At Asking

132 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New York, expect to pay close to the asking price. 46.4% of homes here sold near the asking price last month.

Average Sale Time

Jan 2022Jan 2023%
86 Days85 Days-1.1%

Breakdown of Home Sale Times

208 Homes Were Sold
Under 30 Days

379 Homes Were Sold
In 30 - 90 Days

314 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in New York has remained consistent over time.

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

About New York, NY

There are 23,404 homes are for sale in New York, NY real estate market. The number of listings in New York, NY increased by 6% between December 2022 and January 2023. The median list price of listings available in January 2023 was $849,589, while the average time on the real estate market was 85 days. Listing prices have changed in this real estate market between December 2022 and January 2023: 1 bedroom properties became 0.1% more expensive, prices of 2 bedrooms properties decreased by 6.8%, 3 bedrooms properties prices increased by 2.9%, 4 bedrooms properties prices increased by 2.9%, 5 bedrooms properties became 6.5% more expensive. This housing market inventory have changed: 1 bedroom homes inventory increased by 6.4%, the quantity of 2 bedrooms homes went up by 7.1%, the quantity of 3 bedrooms homes went up by 5.2%, the quantity of 4 bedrooms homes went up by 5.5%, the quantity of 5 bedrooms homes went up by 5%. In January 2023 more than 132 listings in New York, NY were sold above the asking price. During the same period more than 731 listings were sold at asking price, while more than 714 were sold below.

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