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Featured local agent — New York, NY
Sarah Mitchell
Compass Real Estate · New York, NY
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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New York, NY Housing Market
The typical home in New York, NY is worth $832,934, rose 5.7% over the past year (Zillow Home Value Index, July 2026). The last median sale price Redfin published was $899,000, +2.2% year over year (through May 2026). With 7.5 months of supply and homes going under contract in about 68 days, New York is a buyer's market. At today's 6.66% 30-year fixed rate, 20% down on a $832,934 home is about $4,282/mo in principal and interest.
Key numbers for New York, NY
Typical home value
$832,934
+5.7% in 12 months
Zillow, July 2026
Typical asking rent
$4,170/mo
Zillow Observed Rent Index
Zillow, July 2026
Median sale price
$899,000
+2.2% year over year
Redfin, through May 2026
Days on market
68
Slow-moving
Redfin, through May 2026
Active listings
16,047
7.5 months of supply
Redfin, through May 2026
30-yr fixed rate
6.66%
Freddie Mac weekly average
Freddie Mac via FRED, August 2026
Median household income
$79,713
Home costs 10.4x income
U.S. Census ACS, 2023
Sale-to-list ratio
98.3%
Selling below asking
Redfin, through May 2026
Zillow figures are as of July 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is New York a buyer's or seller's market?
New York, NY is a buyer's market, based on 7.5 months of supply and homes selling in about 68 days. Above 7 months of supply is a glut: inventory is well ahead of the sales pace, and buyers can take time to inspect, compare, and negotiate concessions.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the New York housing market data show?
Every row below is Redfin's final published month for New York, NY. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $899,000 |
| Median list price | $949,999 |
| Year-over-year price change | +2.2% |
| Median price per sq ft | $639/sq ft |
| Median days on market | 68 days |
| Active inventory | 16,047 listings |
| Months of supply | 7.5 months |
| Sale-to-list price ratio | 98.3% |
| Homes sold (that month) | 2,141 |
| New listings (that month) | 4,581 |
| Listings with a price cut | 22.3% |
| Market condition | Buyer's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for New York is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in New York is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have New York home prices moved?
Over the last three years the median sale price in New York, NY rose 9.6%, from $820,000 to $899,000. The live Zillow value series has rose 5.7% in the last 12 months, which is the more current read now that Redfin's series has stopped. 22.3% of New York listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear. For prices to fall meaningfully from here, supply would have to keep building past 7.5 months while the sale-to-list ratio slips below its current 98.3%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in New York?
Priced off the typical home value of $832,934 at the current 6.66% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $166,587 | $666,347 | $4,282/mo |
| 5% | $41,647 | $791,288 | $5,085/mo |
Zillow, July 2026 for the price · Freddie Mac via FRED, August 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $4,282, that implies roughly $183,520 a year before you add taxes and insurance. The median household in New York earns $79,713, about $103,807 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 10.4x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in New York in the next 12 months?
Tell us your timeline. We send the New York market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in New York?
Typical asking rent in New York, NY is $4,170/mo, against a typical home value of $832,934. That is a price-to-rent ratio of 16.6x, which means buying and renting land close enough together that the decision turns on how long you stay and your down payment. Compared head to head, 20% down puts principal and interest at $4,282 a month — $112 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, July 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in New York?
Active listings in New York, NY went from 17,610 in May 2025 to 16,047 in May 2026, a -8.9% change. Inventory has been roughly flat, which usually keeps prices moving with rates rather than with local supply.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 17,278 | 4,113 |
| July 2025 | 16,891 | 3,941 |
| August 2025 | 15,941 | 3,211 |
| September 2025 | 17,033 | 5,220 |
| October 2025 | 16,707 | 4,238 |
| November 2025 | 15,725 | 2,987 |
| December 2025 | 13,725 | 2,156 |
| January 2026 | 13,785 | 3,640 |
| February 2026 | 13,876 | 3,405 |
| March 2026 | 15,068 | 5,340 |
| April 2026 | 16,351 | 5,502 |
| May 2026 | 16,047 | 4,581 |
Redfin, through May 2026
How does New York compare to New York and the U.S.?
New York homes sell for $899,000 — 45% above the New York median of $620,500. Against the national median of $410,700, New York runs 119% higher. Year-over-year, New York moved +2.2% against New York's +5.1% — a smaller swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| New York, NY | $899,000 | +2.2% | 68 days |
| New York statewide | $620,500 | +5.1% | 42 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in New York
What buyers should watch
- Months of supply, currently 7.5. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 22.3%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $803 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 6.66%, every full point of rate change moves the payment on a $832,934 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median New York listing goes under contract in 68 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 98.3% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month New York added 4,581 new listings against 2,141 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +5.7% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside New York varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in New York
There are currently 16,047 homes listed for sale in New York, New York. The median listing price is $950K.
Active listings
16,047
Homes on market
Median list price
$950K
Avg. days on market
68
Days until sale
New this week
4,581
Newly listed
How much do homes cost in New York by property type?
How the New York, NY market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $795,000 | $534/sq ft | 502 | 47 days |
| Condo / co-op | $830,000 | $1,061/sq ft | 1,250 | 82 days |
| Townhouse | $1.50M | $1,244/sq ft | 43 | 65 days |
Who lives in New York?
American Community Survey estimates for New York. U.S. Census ACS, 2023
Population
8,516,202
Households
3,313,316
Median income
$79,713/yr
Median age
38 years
Owner-occupied
32.8%
Median home value
$751,700
Median gross rent
$1,779/mo
Mean commute
40.6 min
32.8% of occupied homes in New York are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $751,700 against Zillow's $832,934 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $1,779/mo, below Zillow's $4,170/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve New York?
50 schools tracked · 51,442 students
The largest public schools serving New York, NY by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
STUYVESANT HIGH SCHOOL
Grades 9-12 · 3,257 students
FIORELLO H LAGUARDIA HIGH SCHOOL
Grades 9-12 · 2,141 students
KIPP INFINITY CHARTER SCHOOL
Grades K-12 · 1,846 students
HIGH SCHOOL FOR HEALTH PROFESSIONS & HUMAN SERVICES
Grades 9-12 · 1,667 students
MANHATTAN CENTER FOR SCIENCE & MATHEMATICS
Grades 9-12 · 1,648 students
NEW EXPLORATIONS INTO SCIENCETECH AND MATH HIGH SCHOOL
Grades K-12 · 1,613 students
SUCCESS ACADEMY CHARTER SCHOOL-HARLEM 1
Grades K-12 · 1,553 students
HIGH SCHOOL OF FASHION INDUSTRIES (THE)
Grades 9-12 · 1,533 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near New York, NY?
Ordered by distance from New York, not by size. Compare New York side by side with any of them.
New York housing market FAQ
Is New York a buyer's or seller's market?
New York, NY is currently a buyer's market. That read comes from 7.5 months of supply, homes going under contract in about 68 days, and sellers getting 98.3% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in New York?
The typical home in New York, NY is worth $832,934 (Zillow Home Value Index, July 2026). The median sale price in the last month Redfin published was $899,000, about $639 per square foot.
Is New York cheaper than the rest of New York?
New York's median sale price of $899,000 is 45% higher than the New York statewide median of $620,500, and 119% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in New York?
Homes in New York, NY spent a median of 68 days on market before going under contract, versus 42 days statewide. Over two months means buyers have time to inspect, compare and negotiate. (Redfin, through May 2026.)
What income do you need to buy a home in New York?
At the current 30-year fixed rate of 6.66%, 20% down on a $832,934 home is about $4,282 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $183,520 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $79,713.
Are home prices rising in New York?
The typical home value in New York, NY rose 5.7% over the last 12 months, from $787,904 to $832,934 (Zillow, July 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in New York?
New York ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in New York?
That depends on your timeline, not on a headline. What the data says today: New York, NY is a buyer's market with 7.5 months of supply, the 30-year fixed rate is 6.66%, and the price-to-rent ratio of 16.6x means buying and renting land close enough together that the decision turns on how long you stay and your down payment. Properties Incorporated publishes the data; it does not give financial advice.
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