Is Midtown East, 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, Midtown East has remained a Buyer's Market.
Housing Prices in Midtown East, NY
How much do homes in Midtown East, NY cost?
Median Sold Price
$1,106,239
$1,203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Midtown East was $1,106,239 in May 2024, down 3.8% from last year, and the median price per square foot was $1,203.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $730K | $697.1K | -4.5% |
2 Bedrooms | $1.4M | $1.3M | -9.5% |
3 Bedrooms | $2.3M | $2.7M | +18.3% |
4 Bedrooms | $3.1M | $3.7M | +21.4% |
5+ Bedrooms | $5.6M | $6.7M | +20.1% |
Summary: Midtown East housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.5%, 2 bedroom homes decreased by 9.5%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 20.1%.
Median Sold Price Compared To Nearby Neighborhoods
Sutton Place | $999K | $975K | -2.4% |
Midtown East | $1.1M | $1.1M | -3.8% |
Turtle Bay | $1.1M | $1.0M | -8.7% |
Theater District | $1.2M | $1.0M | -16.8% |
Housing Supply in Midtown East, NY
How many homes are available in Midtown East, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
921 | 935 | +1.5% |
Summary: The Midtown East real estate market had 935 homes for sale in May 2024, a 1.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 325 | 344 | +5.8% |
2 Bedrooms | 328 | 308 | -6.1% |
3 Bedrooms | 171 | 172 | +0.6% |
4 Bedrooms | 57 | 70 | +22.8% |
5+ Bedrooms | 40 | 41 | +2.5% |
Summary: The Midtown East housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.8%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 22.8%, and 5+ bedroom homes increased by 2.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
59 | 63 | +6.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
54 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 63 homes were sold or pending in Midtown East in May 2024, up by 6.8% month-over-month. Of the 63 sold homes, 13% were sold under asking, 86% were sold at asking, and 2% were sold over asking.
Days on Market for Midtown East, NY
How long does it take to sell a home in Midtown East, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
243 Days | 134 Days | -44.9% |
Summary: Homes in Midtown East had an average of 134 days on market in May 2024, down by 44.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 63 homes were sold in Midtown East; 0% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.