Is Rye, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Rye was a Neutral Market.
Key Takeaway
Rye is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Rye, NY
How much do homes in Rye, NY cost?
Median Sold Price
$1,987,499
$674/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rye have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Rye was $1,987,499 in May 2024, up 8.9% from last year, and the median price per square foot was $674.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $270K | $240.5K | -10.9% |
| 2 Bedrooms | $581.7K | $605K | +4.0% |
| 3 Bedrooms | $1.2M | $1.2M | 0.2% |
| 4 Bedrooms | $1.6M | $1.9M | +17.6% |
| 5+ Bedrooms | $2.9M | $3.2M | +7.6% |
Summary: Rye housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.9%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
| Port Chester | $608.3K | $692K | +13.8% |
| Greenwich | $1.5M | $1.7M | +10.4% |
| Rye | $1.8M | $1.9M | +8.9% |
| Harrison | $1.2M | $1.3M | +6.3% |
| Rye Brook | $980K | $908K | -7.3% |
Housing Supply in Rye, NY
How many homes are available in Rye, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 116 | 130 | +12.1% |
Summary: The Rye real estate market had 130 homes for sale in May 2024, a 12.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 10 | +42.9% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 12 | 10 | -16.7% |
| 4 Bedrooms | 36 | 40 | +11.1% |
| 5+ Bedrooms | 52 | 60 | +15.4% |
Summary: The Rye housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 42.9%, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 18 | +80.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rye, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Rye in May 2024, up by 80.0% month-over-month. Of the 18 sold homes, 39% were sold under asking, 6% were sold at asking, and 56% were sold over asking.
Days on Market for Rye, NY
How long does it take to sell a home in Rye, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 50 Days | 43 Days | -14.9% |
Summary: Homes in Rye had an average of 43 days on market in May 2024, down by 14.9% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rye are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 18 homes were sold in Rye; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.