$10,000 Closing Credit*
$999,000
1 Bed
•1 Full Bath
#RPLU-33423254502, Jessica Waxman, Listing Office: Corcoran Group
Is Koreatown, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Koreatown has remained a Buyer's Market.
Key Takeaway
Koreatown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Koreatown, NY
How much do homes in Koreatown, NY cost?
Median Sold Price
$1,675,000
$1,483/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$575,000(-25.6%)
Key Takeaway
Homes in Koreatown have sold for 25.6% less than they did a year ago.
Summary: The median home sold price in Koreatown was $1,675,000 in October 2024, down 25.6% from last year, and the median price per square foot was $1,483.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $1.3M | $1.1M | -9.8% |
| 2 Bedrooms | $2.3M | $1.9M | -18.8% |
| 3 Bedrooms | $4.0M | $2.9M | -27.8% |
| 4 Bedrooms | $7.8M | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Koreatown housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.8%, 2 bedroom homes decreased by 18.8%, 3 bedroom homes decreased by 27.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Murray Hill | $896.3K | $972K | +8.4% |
| Midtown Manhattan | $1.2M | $1.2M | -1.2% |
| Kips Bay | $875K | $827.5K | -5.4% |
| Koreatown | $2.2M | $1.6M | -25.6% |
Housing Supply in Koreatown, NY
How many homes are available in Koreatown, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 43 | +7.5% |
Summary: The Koreatown real estate market had 43 homes for sale in October 2024, a 7.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 15 | 0.0% |
| 2 Bedrooms | 20 | 22 | +10.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Koreatown housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Koreatown, expect to pay close to the asking price. 80% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Koreatown in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 80% were sold at asking, and 0% were sold over asking.
Days on Market for Koreatown, NY
We’re sorry, we don't have information for this market at the moment
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