$10,000 Closing Credit*
$1,199,000
1,243 SqFt
2 Beds
•2 Full Baths
#RLMX-105029, ALEX CARINI, Listing Office: Carini Group LLC
Is Lower Manhattan, 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, Lower Manhattan has remained a Buyer's Market.
Key Takeaway
Lower Manhattan is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lower Manhattan, NY
How much do homes in Lower Manhattan, NY cost?
Median Sold Price
$1,649,047
$1,614/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$115,532(-6.5%)
Key Takeaway
Homes in Lower Manhattan have sold for 6.5% less than they did a year ago.
Summary: The median home sold price in Lower Manhattan was $1,649,047 in November 2024, down 6.5% from last year, and the median price per square foot was $1,614.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $1.0M | $1.0M | -2.8% |
| 2 Bedrooms | $2.1M | $1.9M | -11.9% |
| 3 Bedrooms | $4.2M | $4.2M | 0.0% |
| 4 Bedrooms | $6.9M | $7.1M | +3.7% |
| 5+ Bedrooms | $8.7M | $10.5M | +20.0% |
Summary: Lower Manhattan housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes decreased by 11.9%, 3 bedroom homes did not change, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 20%.
Median Sold Price Compared To Nearby Neighborhoods
| TriBeCa | $3.4M | $3.5M | +3.0% |
| Financial District | $1.2M | $1.1M | -2.1% |
| Lower Manhattan | $1.7M | $1.6M | -6.5% |
Housing Supply in Lower Manhattan, NY
How many homes are available in Lower Manhattan, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1,368 | 1,196 | -12.6% |
Summary: The Lower Manhattan real estate market had 1,196 homes for sale in November 2024, a 12.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 490 | 388 | -20.8% |
| 2 Bedrooms | 457 | 390 | -14.7% |
| 3 Bedrooms | 254 | 251 | -1.2% |
| 4 Bedrooms | 93 | 91 | -2.2% |
| 5+ Bedrooms | 74 | 76 | +2.7% |
Summary: The Lower Manhattan housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20.8%, 2 bedroom homes decreased by 14.7%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 2.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 119 | 93 | -21.8% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
77 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lower Manhattan, expect to pay close to the asking price. 82.8% of homes here sold near the asking price last month.
Summary: A total of 93 homes were sold or pending in Lower Manhattan in November 2024, down by 21.8% month-over-month. Of the 93 sold homes, 16% were sold under asking, 83% were sold at asking, and 1% were sold over asking.
Days on Market for Lower Manhattan, NY
How long does it take to sell a home in Lower Manhattan, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 41 Days | 150 Days | +262.7% |
Summary: Homes in Lower Manhattan had an average of 150 days on market in Nov 2024, up by 262.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Lower Manhattan are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 93 homes were sold in Lower Manhattan; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
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