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 November 2021

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

$851,986

$641/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$29,756(+3.6%)

Key Takeaway

Homes in New York have sold for 3.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $599.1K$605.2K
+1.0%
2 $880K$849.8K
-3.4%
3 $799.7K$847.6K
+6.0%
4 $932.4K$980.5K
+5.2%
5+ $1.0M$1.1M
+9.1%

Median Sold Price Compared To Nearby Cities

South Richmond Hill
+10.6%
Manhattan
+7.0%
Brooklyn
+5.0%
New York
+3.6%
Queens
+3.6%

How many homes are available in New York, NY?

Number of Homes For Sale

Oct 2022Nov 2022%
25,96626,274+1.2%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 6,5906,614
0.4%
2 6,7756,821
+0.7%
3 5,3695,408
+0.7%
4 2,7412,813
+2.6%
5+ 4,4914,618
+2.8%

Number of Homes Sold

Oct 2022Nov 2022%
2,1441,672-22.0%

Asking Price vs. Sold Price

784 Homes Were Sold
Under Asking

708 Homes Were Sold
At Asking

180 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New York, you may be able to get a good deal. 46.9% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
80 Days88 Days+9.7%

Breakdown of Home Sale Times

243 Homes Were Sold
Under 30 Days

461 Homes Were Sold
In 30 - 90 Days

331 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

Homes for sale in New York, NY have reached 26,274. In November 2022 in New York, NY there were 1.2% more homes for sale than in October 2022. While the average time on the market in November 2022 was 88 days, the median list price was $851,986. From October 2022 through November 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 1%, 2 bedrooms properties became 3.4% more cheaper, the cost of 3 bedrooms properties went up by 6%, 4 bedrooms properties became 5.2% more expensive, 5 bedrooms properties prices increased by 9.1%. Housing inventory have changed in this real estate market: 1 bedroom homes inventory increased by 0.4%, volume of 2 bedrooms homes went up by 0.7%, 3 bedrooms homes became 0.7% more available, number of 4 bedrooms homes increased by 2.6%, the quantity of 5 bedrooms homes went up by 2.8%. New York, NY housing market in November 2022 saw over 180 listings sold above listed price, more than 708 sold at listed price and over 784 sold below.

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