$6,401 Closing Credit*
$539,000
1 Bed
•1 Full Bath
#RPLU-5123273798, RONALD LENSE, Listing Office: Douglas Elliman Real Estate
Is Kips Bay, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Kips Bay has remained a Buyer's Market.
Key Takeaway
Kips Bay is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Kips Bay, NY
How much do homes in Kips Bay, NY cost?
Median Sold Price
$830,000
$1,067/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$70,000(-7.8%)
Key Takeaway
Homes in Kips Bay have sold for 7.8% less than they did a year ago.
Summary: The median home sold price in Kips Bay was $830,000 in November 2024, down 7.8% from last year, and the median price per square foot was $1,067.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $799K | $687.5K | -14.0% |
| 2 Bedrooms | $1.3M | $1.5M | +14.2% |
| 3 Bedrooms | $1.7M | $1.7M | +3.1% |
| 4 Bedrooms | $2.4M | $3.7M | +48.0% |
| 5+ Bedrooms | - | $5.5M | N/A |
Summary: Kips Bay housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 48%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Murray Hill | $911.6K | $975K | +6.9% |
| Kips Bay | $900K | $830K | -7.8% |
| Rose Hill | $2.5M | $2.0M | -21.4% |
| Koreatown | $2.2M | $1.5M | -29.2% |
Housing Supply in Kips Bay, NY
How many homes are available in Kips Bay, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 124 | 107 | -13.7% |
Summary: The Kips Bay real estate market had 107 homes for sale in November 2024, a 13.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 73 | 63 | -13.7% |
| 2 Bedrooms | 40 | 32 | -20.0% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Kips Bay housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 13.7%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
9 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kips Bay, expect to pay close to the asking price. 90% of homes here sold near the asking price last month.
Summary: A total of 10 homes were sold or pending in Kips Bay in November 2024, the same as the previous month. Of the 10 sold homes, 10% were sold under asking, 90% were sold at asking, and 0% were sold over asking.
Days on Market for Kips Bay, NY
We’re sorry, we don't have information for this market at the moment
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