Is Upper Manhattan, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Upper Manhattan has remained a Buyer's Market.
Housing Prices in Upper Manhattan, NY
How much do homes in Upper Manhattan, NY cost?
Median Sold Price
$1,256,435
$1,238/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Upper Manhattan was $1,256,435 in May 2024, down 0.2% from last year, and the median price per square foot was $1,238.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $723.7K | $725K | 0.2% |
2 Bedrooms | $1.3M | $1.3M | +2.4% |
3 Bedrooms | $2.4M | $2.4M | -2.3% |
4 Bedrooms | $4.4M | $4.7M | +7.5% |
5+ Bedrooms | $7.5M | $6.3M | -15.6% |
Summary: Upper Manhattan housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes increased by 2.4%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes decreased by 15.6%.
Median Sold Price Compared To Nearby Neighborhoods
Upper Manhattan | $1.2M | $1.2M | -0.2% |
Central Harlem | $837.5K | $827.4K | -1.2% |
Housing Supply in Upper Manhattan, NY
How many homes are available in Upper Manhattan, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3,650 | 3,469 | -5.0% |
Summary: The Upper Manhattan real estate market had 3,469 homes for sale in May 2024, a 5.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1,054 | 968 | -8.2% |
2 Bedrooms | 1,131 | 1,062 | -6.1% |
3 Bedrooms | 740 | 697 | -5.8% |
4 Bedrooms | 357 | 368 | +3.1% |
5+ Bedrooms | 368 | 374 | +1.6% |
Summary: The Upper Manhattan housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.2%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes decreased by 5.8%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 1.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
289 | 264 | -8.7% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
223 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 264 homes were sold or pending in Upper Manhattan in May 2024, down by 8.7% month-over-month. Of the 264 sold homes, 13% were sold under asking, 84% were sold at asking, and 2% were sold over asking.
Days on Market for Upper Manhattan, NY
How long does it take to sell a home in Upper Manhattan, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
79 Days | 123 Days | +55.7% |
Summary: Homes in Upper Manhattan had an average of 123 days on market in May 2024, up by 55.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 264 homes were sold in Upper 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.