Is 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, Manhattan has remained a Buyer's Market.
Housing Prices in Manhattan, NY
How much do homes in Manhattan, NY cost?
Median Sold Price
$1,356,342
$1,406/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Manhattan was $1,356,342 in April 2024, down 0.9% from last year, and the median price per square foot was $1,406.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $825.3K | $800.3K | -3.0% |
2 Bedrooms | $1.5M | $1.5M | -2.6% |
3 Bedrooms | $2.9M | $2.9M | 0% |
4 Bedrooms | $4.8M | $5.3M | +9.8% |
5+ Bedrooms | $8.1M | $6.9M | -15.2% |
Summary: Manhattan housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3%, 2 bedroom homes decreased by 2.6%, 3 bedroom homes did not change, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes decreased by 15.2%.
Housing Supply in Manhattan, NY
How many homes are available in Manhattan, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7,076 | 6,986 | -1.3% |
Summary: The Manhattan real estate market had 6,986 homes for sale in April 2024, a 1.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2,330 | 2,277 | -2.3% |
2 Bedrooms | 2,319 | 2,287 | -1.4% |
3 Bedrooms | 1,354 | 1,322 | -2.4% |
4 Bedrooms | 577 | 587 | +1.7% |
5+ Bedrooms | 496 | 513 | +3.4% |
Summary: The Manhattan housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 2.3%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 3.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
469 | 523 | +11.5% |
Asking Price vs. Sold Price
79 Homes Were Sold
Under Asking
435 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 523 homes were sold or pending in Manhattan in April 2024, up by 11.5% month-over-month. Of the 523 sold homes, 15% were sold under asking, 83% were sold at asking, and 2% were sold over asking.
Days on Market for Manhattan, NY
How long does it take to sell a home in Manhattan, NY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
49 Days | 115 Days | +135.4% |
Summary: Homes in Manhattan had an average of 115 days on market in Apr 2024, up by 135.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During April 2024, 523 homes were sold in Manhattan; 0% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.