New York
Housing Market

Name: New York Housing Market - Price Trend Analysis
Creator: Houzeo
License: https://www.houzeo.com/terms-of-use/

New York's real estate market works in favor of buyers right now. This provides buyers stronger negotiating positions. With a 1.6 months of supply and homes averaging 84 days on market, buyers have ample time to make decisions and secure better deals.

New York Housing Market Forecast 2026

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New York Housing Market Overview

Looking to buy property in New York? Current conditions support your position. The median sale price stands at $438,500 (a 15.4% increase from last year), but the market momentum tells the real story. Properties stay listed for 84 days on the market, inventory spans 1.6 months of supply, and homes sold down 32.3% compared to last year. Approximately 11,501 New York homes were sold last month. These factors provide excellent opportunities for buyers to negotiate favorable terms and lock in advantageous prices.

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New York Housing Market Forecast for 2026

New York's housing market is expected to transition toward more balanced conditions in 2026, supported by easing mortgage rates and modest inventory improvements that create better opportunities for buyers.

Market Outlook:

Home prices expected to rise modestly by 2-4%, reflecting sustainable growth
Inventory levels forecast to increase 5-10%, expanding buyer selection
Wage growth outpacing home price appreciation strengthens long-term affordability

Will the New York Housing Market Crash in 2026?

Expert consensus points to no. New York benefits from strong market fundamentals, including substantial homeowner equity and disciplined lending standards that prevent distressed sales. Present circumstances represent gradual market normalization following years of constrained inventory and rapid price growth, not crash conditions. The market is rebalancing from seller-dominated dynamics to a more neutral environment where buyers gain negotiating leverage while sellers maintain pricing power. Buyers should anticipate improved selection and negotiating scenarios through 2026 as the market finds equilibrium.

UnlikelyCrash MeterLikely

Current Market Indicators

Days on Market:
84 days
Months of Supply:
1.6 months
Sale-to-List Ratio:
100.3%
Mortgage Rates:
Currently- 6.23% projected to hover between 6.0% and 6.8%

New York Housing Supply

New York's inventory continues benefiting buyers. With 18,657 homes currently listed as of last month, the significant factor is expanding availability. Inventory fallen 19% year-over-year, months of supply extended to 1.6 from 1.4 previously, and 5,398 additional properties hit the market this month (a 39.3% down). This growing inventory offers buyers a broader selection and enhanced bargaining strength. For sellers, this is the time to list your home on MLS in New York now, before more competition enters an already crowded marketplace.

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New York Housing Demand

New York's purchase activity indicates a buyer-advantaged environment. With the sale-to-list price ratio at 100.3% last month, the crucial signal is diminished seller pricing authority. Just 48.7% of properties sold over asking price (up from 49.8% last year), the sale-to-list ratio held steady 0.1% annually, and New York homes with price reductions increased from 35.7% to 39.8%. These numbers verify that buyers command the market while sellers must price attractively to generate interest.

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Frequently Asked Questions

How have home prices changed in New York over the past year?

New York's median home price is currently $438,500, with a 15.4% year-over-year increase. You can check your home's fair market value with our free home value estimator to compare prices in your neighborhood and know where you stand.

Are home prices dropping in New York?

Currently, home prices are stable with localized variations across different counties and cities. Experts forecast growth in New York home prices through 2025-26, although increased inventory may moderate prices in overvalued areas.

What's the average price for a house in New York?

The average cost of a home in New York typically ranges from $377,500 for condos to $465,000 for single-family homes, depending on location, size, and market conditions.

What are the New York housing market predictions in 2025 and beyond?

The housing market in New York is expected to stabilize in 2025, alongside rising mortgage rates. Our housing market predictions suggest that the supply of New York houses should increase enough to stabilize price growth.

What is a good time to buy a home in New York?

Typically, from August to December is the best time to buy when supply is high and demand is low. You must check the current market trends in home prices and inventory in New York. If mortgage rates are stable, the median market time is more than 70 days, with more than 5 months of supply, it's the best time to buy a house in New York.

What are the steps to buying houses in New York?

As a buyer, you should keep an eye on price changes and inventory levels. If you're buying a house in New York, you should get a mortgage pre-approval and budget for a down payment of at least 10%.

How can I list my home for sale in New York?

You can list your home for sale with a Flat Fee MLS New York listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀

What is the average mortgage rate for buyers in New York?

The average mortgage rate for buyers in the New York real estate market fluctuates between 6% to 8%. Always check your credit score and current mortgage rates with lenders before you apply.

When will the housing market crash in New York?

A New York housing market crash is not likely in 2025 and 2026. Home prices are not dropping suddenly and remain 80% above pre-COVID levels, with sustained growth projected through 2025. You should keep an eye on New York housing market predictions before you invest.

Important Legal Disclosures

*Based on Houzeo calculations of home data from MLS and/or public records.

“The market analysis provided on this page is for informational purposes only and does not constitute financial, investment, or legal advice. Data is sourced from public records, industry reports, and third-party providers, and while Houzeo strives for accuracy, we make no guarantees regarding the completeness, accuracy, or timeliness of the information presented.

All estimates, projections, and historical data are based on statistical models and should not be relied upon as predictions of future market conditions. Past performance is not indicative of future results, and real estate market conditions may change due to various economic and regulatory factors.
Users are responsible for conducting their own due diligence before making any real estate or financial decisions. Houzeo is not liable for any decisions or actions taken based on the information provided. Any unauthorized use, duplication, or distribution of the data may violate copyright laws and result in legal consequences. Certain information, tools and services on this page may be powered by third-party vendors. Houzeo does not control or guarantee the accuracy, reliability, or functionality of such third-party services.