Is SoHo, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, SoHo was a Neutral Market.
Key Takeaway
SoHo is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in SoHo, NY
How much do homes in SoHo, NY cost?
Median Sold Price
$4,495,000
$1,909/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in SoHo have sold for 30.3% more than they did a year ago.
Summary: The median home sold price in SoHo was $4,495,000 in April 2024, up 30.3% from last year, and the median price per square foot was $1,909.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $1.9M | $1.7M | -14.8% |
| 2 Bedrooms | $3.0M | $3.6M | +20.8% |
| 3 Bedrooms | $5.1M | $6.5M | +28.9% |
| 4 Bedrooms | $8.4M | $8.4M | -0.2% |
| 5+ Bedrooms | $8.6M | $14.0M | +62.0% |
Summary: SoHo housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.8%, 2 bedroom homes increased by 20.8%, 3 bedroom homes increased by 28.9%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes increased by 62%.
Median Sold Price Compared To Nearby Neighborhoods
| SoHo | $3.4M | $4.4M | +30.3% |
| Hudson Square / West SoHo | $2.4M | $2.6M | +10.3% |
| Chinatown | $3.4M | $3.1M | -7.4% |
| NoHo | $2.3M | $1.8M | -20.8% |
Housing Supply in SoHo, NY
How many homes are available in SoHo, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 83 | 78 | -6.0% |
Summary: The SoHo real estate market had 78 homes for sale in April 2024, a 6.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 7 | -30.0% |
| 2 Bedrooms | 31 | 32 | +3.2% |
| 3 Bedrooms | 30 | 28 | -6.7% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The SoHo housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 30%, 2 bedroom homes increased by 3.2%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in SoHo, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in SoHo in April 2024, up by 40.0% month-over-month. Of the 7 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for SoHo, NY
We’re sorry, we don't have information for this market at the moment
©2024 The Real Estate Board of New York, Inc., All rights reserved. Website powered by IHR Technology Services.