Market Conditions

In early 2024, the New York City housing market shows a median listing price of approximately $1.5 million and an average price per square foot of $1,500. Homes in New York City are selling for a median price of around $1.2 million, indicating a high demand in a competitive market.

Source: Realtor.com

Recent Sales and Listings

The average days on market for homes in New York City has stabilized at about 70 days, suggesting a steady pace of sales. The median sale price as of December 2023 is $1.2 million, consistent with the listing prices, reflecting a market where demand closely matches the supply.

Source: Realtor.com

Market Trends

Properties are often receiving multiple offers, with premium homes selling above their listing price. The sale-to-list price ratio is approximately 98%, demonstrating a competitive market where well-positioned properties continue to draw significant interest.

Source: Realtor.com

Outlook for Buyers and Sellers

With a relatively balanced market, both buyers and sellers have opportunities to capitalize. The current environment suggests that well-priced homes in sought-after neighborhoods are likely to sell quickly, while buyers may find opportunities as new listings come onto the market.

For ongoing updates and more detailed information, platforms like Zillow and Realtor.com are recommended for the latest data and trends.

Source: Realtor.com