Is New York, 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, New York has remained a Buyer's Market.
Housing Prices in New York, NY
How much do homes in New York, NY cost?
Median Sold Price
$845,489
$636/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in New York was $845,489 in March 2024, down 1.1% from last year, and the median price per square foot was $636.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $617.9K | $578K | -6.5% |
2 Bedrooms | $876.6K | $829.9K | -5.3% |
3 Bedrooms | $852.6K | $845.9K | -0.8% |
4 Bedrooms | $988.6K | $975.5K | -1.3% |
5+ Bedrooms | $1.1M | $1.1M | -1.8% |
Summary: New York housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.5%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes decreased by 1.8%.
Housing Supply in New York, NY
How many homes are available in New York, NY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20,053 | 20,795 | +3.7% |
Summary: The New York real estate market had 20,795 homes for sale in March 2024, a 3.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4,999 | 5,124 | +2.5% |
2 Bedrooms | 5,334 | 5,408 | +1.4% |
3 Bedrooms | 3,975 | 4,222 | +6.2% |
4 Bedrooms | 2,099 | 2,161 | +3.0% |
5+ Bedrooms | 3,646 | 3,880 | +6.4% |
Summary: The New York housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 6.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,520 | 1,548 | +1.8% |
Asking Price vs. Sold Price
748 Homes Were Sold
Under Asking
645 Homes Were Sold
At Asking
154 Homes Were Sold
Over Asking
Summary: A total of 1,548 homes were sold or pending in New York in March 2024, up by 1.8% month-over-month. Of the 1,547 sold homes, 48% were sold under asking, 42% were sold at asking, and 10% were sold over asking.
Days on Market for New York, NY
How long does it take to sell a home in New York, NY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
101 Days | 96 Days | -4.7% |
Summary: Homes in New York had an average of 96 days on market in Mar 2024, down by 4.7% compared to last year.
Breakdown of Home Sale Times
206 Homes Were Sold
Under 30 Days
341 Homes Were Sold
In 30 - 90 Days
337 Homes Were Sold
Over 90 Days
Summary: During March 2024, 1548 homes were sold in New York; 13% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.