$4,995,000
2,706 SqFt
3 Beds
•3 Full Baths, 1 Partial
#RPLU-1032523264154, Jordan Hurt, Listing Office: Serhant
Is Manhattan, 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, Manhattan has remained a Buyer's Market.
Key Takeaway
Manhattan is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Manhattan, NY
How much do homes in Manhattan, NY cost?
Median Sold Price
$1,353,767
$1,378/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$2,340(+0.2%)
Key Takeaway
The sold price of homes in Manhattan has remained the same since last year.
Summary: The median home sold price in Manhattan was $1,353,767 in October 2024, up 0.2% from last year, and the median price per square foot was $1,378.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $814.7K | $806.9K | -1.0% |
| 2 Bedrooms | $1.6M | $1.5M | -4.9% |
| 3 Bedrooms | $3.0M | $2.7M | -7.1% |
| 4 Bedrooms | $5.0M | $4.9M | -2.4% |
| 5+ Bedrooms | $8.0M | $6.8M | -15.0% |
Summary: Manhattan housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes decreased by 4.9%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 15%.
Housing Supply in Manhattan, NY
How many homes are available in Manhattan, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6,929 | 6,876 | -0.8% |
Summary: The Manhattan real estate market had 6,876 homes for sale in October 2024, a 0.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2,374 | 2,321 | -2.2% |
| 2 Bedrooms | 2,284 | 2,261 | -1.0% |
| 3 Bedrooms | 1,219 | 1,214 | -0.4% |
| 4 Bedrooms | 553 | 564 | +2.0% |
| 5+ Bedrooms | 499 | 516 | +3.4% |
Summary: The Manhattan housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 2.2%, 2 bedroom homes decreased by 1%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 3.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 574 | 557 | -3.0% |
Asking Price vs. Sold Price
77 Homes Were Sold
Under Asking
472 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manhattan, expect to pay close to the asking price. 84.7% of homes here sold near the asking price last month.
Summary: A total of 557 homes were sold or pending in Manhattan in October 2024, down by 3.0% month-over-month. Of the 557 sold homes, 14% were sold under asking, 85% were sold at asking, and 1% were sold over asking.
Days on Market for Manhattan, NY
How long does it take to sell a home in Manhattan, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 188 Days | 59 Days | -68.6% |
Summary: Homes in Manhattan had an average of 59 days on market in Oct 2024, down by 68.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Manhattan has remained consistent over time.
Summary: During October 2024, 557 homes were sold in Manhattan; 0% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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