$7,707 Closing Credit*
$649,000
875 SqFt
2 Beds
•1 Full Bath
Listing Office: Sheridan Residential Group LLC
Is New York, 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, New York has remained a Buyer's Market.
Key Takeaway
New York is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in New York, NY
How much do homes in New York, NY cost?
Median Sold Price
$850,115
$667/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$21,467(+2.6%)
Key Takeaway
Homes in New York have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in New York was $850,115 in November 2024, up 2.6% from last year, and the median price per square foot was $667.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $565.6K | $569.9K | +0.8% |
| 2 Bedrooms | $799.6K | $825.2K | +3.2% |
| 3 Bedrooms | $837.8K | $850K | +1.5% |
| 4 Bedrooms | $970K | $983.7K | +1.4% |
| 5+ Bedrooms | $1.1M | $1.2M | +2.7% |
Summary: New York housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 2.7%.
Housing Supply in New York, NY
How many homes are available in New York, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20,968 | 19,461 | -7.2% |
Summary: The New York real estate market had 19,461 homes for sale in November 2024, a 7.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5,280 | 4,765 | -9.8% |
| 2 Bedrooms | 5,380 | 4,917 | -8.6% |
| 3 Bedrooms | 4,284 | 3,945 | -7.9% |
| 4 Bedrooms | 2,215 | 2,099 | -5.2% |
| 5+ Bedrooms | 3,809 | 3,735 | -1.9% |
Summary: The New York housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.8%, 2 bedroom homes decreased by 8.6%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes decreased by 5.2%, and 5+ bedroom homes decreased by 1.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2,145 | 1,747 | -18.6% |
Asking Price vs. Sold Price
758 Homes Were Sold
Under Asking
769 Homes Were Sold
At Asking
220 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New York, expect to pay close to the asking price. 44% of homes here sold near the asking price last month.
Summary: A total of 1,747 homes were sold or pending in New York in November 2024, down by 18.6% month-over-month. Of the 1,747 sold homes, 43% were sold under asking, 44% were sold at asking, and 13% were sold over asking.
Days on Market for New York, NY
How long does it take to sell a home in New York, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 91 Days | 85 Days | -5.9% |
Summary: Homes in New York had an average of 85 days on market in Nov 2024, down by 5.9% compared to last year.
Breakdown of Home Sale Times
293 Homes Were Sold
Under 30 Days
406 Homes Were Sold
In 30 - 90 Days
335 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in New York has remained consistent over time.
Summary: During November 2024, 1747 homes were sold in New York; 17% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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