Is Midtown Manhattan, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Midtown Manhattan has remained a Buyer's Market.
Housing Prices in Midtown Manhattan, NY
How much do homes in Midtown Manhattan, NY cost?
Median Sold Price
$1,274,125
$1,437/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Midtown Manhattan was $1,274,125 in April 2024, down 4.9% from last year, and the median price per square foot was $1,437.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $855K | $824.6K | -3.6% |
2 Bedrooms | $1.8M | $1.7M | -6.3% |
3 Bedrooms | $3.3M | $3.4M | +1.1% |
4 Bedrooms | $4.6M | $6.6M | +42.9% |
5+ Bedrooms | $6.6M | $7.4M | +11.4% |
Summary: Midtown Manhattan housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.6%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 11.4%.
Median Sold Price Compared To Nearby Neighborhoods
Garment District | $837K | $1.2M | +50.8% |
Midtown Manhattan | $1.3M | $1.2M | -4.9% |
Theater District | $1.2M | $1.1M | -6.9% |
Koreatown | $2.3M | $1.9M | -18.1% |
Housing Supply in Midtown Manhattan, NY
How many homes are available in Midtown Manhattan, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2,257 | 2,219 | -1.7% |
Summary: The Midtown Manhattan real estate market had 2,219 homes for sale in April 2024, a 1.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 868 | 830 | -4.4% |
2 Bedrooms | 790 | 785 | -0.6% |
3 Bedrooms | 380 | 377 | -0.8% |
4 Bedrooms | 135 | 142 | +5.2% |
5+ Bedrooms | 84 | 85 | +1.2% |
Summary: The Midtown Manhattan housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.4%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 1.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
144 | 155 | +7.6% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
129 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 155 homes were sold or pending in Midtown Manhattan in April 2024, up by 7.6% month-over-month. Of the 155 sold homes, 14% were sold under asking, 83% were sold at asking, and 3% were sold over asking.
Days on Market for Midtown Manhattan, NY
How long does it take to sell a home in Midtown Manhattan, NY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 146 Days | +413.5% |
Summary: Homes in Midtown Manhattan had an average of 146 days on market in Apr 2024, up by 413.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 155 homes were sold in Midtown Manhattan; 0% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.