New York, New York started 2024 with a total of 62 single-family homes on the market, with a median home price of $7,725,000 and an average price per square foot of $1728.75. By the end of the year, inventory had decreased to 26 homes on the market (-58%), with a median home price of $8,022,500 (+4%), and an average price per square foot of $1922 (+11%).
At the start of 2024, the median days on market (DOM) was 147 days – by the end of the year, median DOM had increased to 172 days.
New York, New York started the year with 19.35% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 23.08% of homes for sale had taken a price cut.
