$3,890,000
2,446 SqFt
3 Beds
•3 Full Baths, 1 Partial
#RPLU-5123093496, Wendy Lee, Listing Office: Douglas Elliman Real Estate
Is Midtown East, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Midtown East has remained a Buyer's Market.
Key Takeaway
Midtown East is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Midtown East, NY
How much do homes in Midtown East, NY cost?
Median Sold Price
$1,086,875
$1,224/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
-$60,781(-5.3%)
Key Takeaway
Homes in Midtown East have sold for 5.3% less than they did a year ago.
Summary: The median home sold price in Midtown East was $1,086,875 in August 2024, down 5.3% from last year, and the median price per square foot was $1,224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $725.7K | $700K | -3.5% |
| 2 Bedrooms | $1.3M | $1.2M | -9.0% |
| 3 Bedrooms | $2.7M | $2.8M | +2.2% |
| 4 Bedrooms | $3.7M | $3.4M | -8.1% |
| 5+ Bedrooms | $6.4M | $8.1M | +25.6% |
Summary: Midtown East housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.5%, 2 bedroom homes decreased by 9%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes increased by 25.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Sutton Place | $950K | $975K | +2.6% |
| Midtown East | $1.1M | $1.0M | -5.3% |
| Turtle Bay | $1.1M | $999K | -10.6% |
Housing Supply in Midtown East, NY
How many homes are available in Midtown East, NY?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 859 | 776 | -9.7% |
Summary: The Midtown East real estate market had 776 homes for sale in August 2024, a 9.7% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 313 | 282 | -9.9% |
| 2 Bedrooms | 307 | 264 | -14.0% |
| 3 Bedrooms | 150 | 142 | -5.3% |
| 4 Bedrooms | 61 | 59 | -3.3% |
| 5+ Bedrooms | 28 | 29 | +3.6% |
Summary: The Midtown East housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.9%, 2 bedroom homes decreased by 14%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 3.6%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 53 | 50 | -5.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
37 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Midtown East, expect to pay close to the asking price. 74% of homes here sold near the asking price last month.
Summary: A total of 50 homes were sold or pending in Midtown East in August 2024, down by 5.7% month-over-month. Of the 50 sold homes, 22% were sold under asking, 74% were sold at asking, and 4% were sold over asking.
Days on Market for Midtown East, NY
How long does it take to sell a home in Midtown East, NY?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 143 Days | 187 Days | +30.3% |
Summary: Homes in Midtown East had an average of 187 days on market in Aug 2024, up by 30.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Midtown East are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During August 2024, 50 homes were sold in Midtown East; 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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