$7,707 Closing Credit*
$649,000
1,100 SqFt
2 Beds
•1 Full Bath, 1 Partial
#OLRS-00012026635, SCOTT EISENBERG, Listing Office: EXP Realty NYC
Is Upper Manhattan, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Upper Manhattan has remained a Buyer's Market.
Key Takeaway
Upper Manhattan is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Upper Manhattan, NY
How much do homes in Upper Manhattan, NY cost?
Median Sold Price
$1,264,629
$1,232/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$12,028(+1.0%)
Key Takeaway
Homes in Upper Manhattan have sold for 1% more than they did a year ago.
Summary: The median home sold price in Upper Manhattan was $1,264,629 in December 2024, up 1% from last year, and the median price per square foot was $1,232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $699.8K | $739.1K | +5.6% |
| 2 Bedrooms | $1.3M | $1.3M | -2.5% |
| 3 Bedrooms | $2.4M | $2.4M | 0.3% |
| 4 Bedrooms | $4.7M | $4.1M | -12.9% |
| 5+ Bedrooms | $7.6M | $6.4M | -16.7% |
Summary: Upper Manhattan housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes decreased by 16.7%.
Housing Supply in Upper Manhattan, NY
How many homes are available in Upper Manhattan, NY?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 2,780 | 2,335 | -16.0% |
Summary: The Upper Manhattan real estate market had 2,335 homes for sale in December 2024, a 16.0% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 829 | 687 | -17.1% |
| 2 Bedrooms | 874 | 712 | -18.5% |
| 3 Bedrooms | 514 | 427 | -16.9% |
| 4 Bedrooms | 281 | 241 | -14.2% |
| 5+ Bedrooms | 282 | 268 | -5.0% |
Summary: The Upper Manhattan housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 17.1%, 2 bedroom homes decreased by 18.5%, 3 bedroom homes decreased by 16.9%, 4 bedroom homes decreased by 14.2%, and 5+ bedroom homes decreased by 5%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 239 | 258 | +7.9% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
222 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper Manhattan, expect to pay close to the asking price. 86% of homes here sold near the asking price last month.
Summary: A total of 258 homes were sold or pending in Upper Manhattan in December 2024, up by 7.9% month-over-month. Of the 258 sold homes, 13% were sold under asking, 86% were sold at asking, and 1% were sold over asking.
Days on Market for Upper Manhattan, NY
How long does it take to sell a home in Upper Manhattan, NY?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 60 Days | 131 Days | +117.0% |
Summary: Homes in Upper Manhattan had an average of 131 days on market in Dec 2024, up by 117% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Upper Manhattan are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During December 2024, 258 homes were sold in Upper Manhattan; 0% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
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