Is New York, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
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.
Housing Prices in New York, NY
How much do homes in New York, NY cost?
Median Sold Price
$849,191
$639/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in New York has remained the same since last year.
Summary: The median home sold price in New York was $849,191 in April 2024, down 0.3% from last year, and the median price per square foot was $639.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $611.5K | $577.2K | -5.6% |
| 2 Bedrooms | $864.3K | $832.3K | -3.7% |
| 3 Bedrooms | $850.2K | $850.4K | 0.0% |
| 4 Bedrooms | $985.2K | $978.5K | -0.7% |
| 5+ Bedrooms | $1.2M | $1.1M | -2.4% |
Summary: New York housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.6%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes did not change, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes decreased by 2.4%.
Housing Supply in New York, NY
How many homes are available in New York, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20,556 | 21,327 | +3.8% |
Summary: The New York real estate market had 21,327 homes for sale in April 2024, a 3.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5,122 | 5,183 | +1.2% |
| 2 Bedrooms | 5,374 | 5,513 | +2.6% |
| 3 Bedrooms | 4,227 | 4,399 | +4.1% |
| 4 Bedrooms | 2,142 | 2,249 | +5.0% |
| 5+ Bedrooms | 3,691 | 3,983 | +7.9% |
Summary: The New York housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.2%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 7.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,614 | 1,674 | +3.7% |
Asking Price vs. Sold Price
748 Homes Were Sold
Under Asking
758 Homes Were Sold
At Asking
168 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New York, expect to pay close to the asking price. 45.3% of homes here sold near the asking price last month.
Summary: A total of 1,674 homes were sold or pending in New York in April 2024, up by 3.7% month-over-month. Of the 1,674 sold homes, 45% were sold under asking, 45% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 96 Days | 96 Days | -0.6% |
Summary: Homes in New York had an average of 96 days on market in Apr 2024, down by 0.6% compared to last year.
Breakdown of Home Sale Times
208 Homes Were Sold
Under 30 Days
345 Homes Were Sold
In 30 - 90 Days
355 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in New York are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 1674 homes were sold in New York; 12% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
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Information being provided by Brooklyn Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. 
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