New York Housing Market Report January 2025•Kings County, New York

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Housing Prices in New York, NY

How much do homes in New York, NY cost?

Housing Market Conditions

Is New York, NY a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

New York is a Buyer's Market

Difference Since January 2024

Since last year, New York has remained a Buyer's Market.

Insight

New York is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$862,270$693/SqFt
+$30,982
+3.7%

Based on all homes sold in the last 12 months

Insight

Homes in New York have sold for 3.7% more than they did a year ago.

Summary: The median home sold price in New York was $862,270 in January 2025, up 3.7% from last year, and the median price per square foot was $693.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Queens
+8.3%
Brooklyn
+3.9%
New York
+3.7%
Manhattan
-0.3%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1$567.6K$584.2K
+2.9%
2$807.6K$848.4K
+5.1%
3$836.5K$867.4K
+3.7%
4$969.5K$991.7K
+2.3%
5$1.1M$1.2M
+3.5%

Summary: New York housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +2.9%. The home price for 2 bedroom homes increased by +5.1%. The home price for 3 bedroom homes increased by +3.7%. The home price for 4 bedroom homes increased by +2.3%. The home price for 5 bedroom homes increased by +3.5%.

Housing supply in New York, NY

How many homes are available in New York, NY?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
17,124Last MonthJan 2025
17,7212 months agoDec 2024
-3.4 %
Change MoMDec – Jan

Summary: The New York real estate market had 17,124 homes for sale in Jan 2025, a 3.4 % decrease compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
1,857Last MonthJan 2025
1,9822 months agoDec 2024
-6.3 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
14,5474,386
-3.5%
24,7304,506
-4.7%
33,5973,405
-5.3%
41,8201,778
-2.3%
53,0273,049
+0.7%

Summary: New York housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -3.5%. The inventory for 2 bedroom homes decreased by -4.7%. The inventory for 3 bedroom homes decreased by -5.3%. The inventory for 4 bedroom homes decreased by -2.3%. The inventory for 5 bedroom homes increased by +0.7%.

Asking Price vs. Sold Price

How much do homes in New York, NY cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price208 Homes

At Asking Price890 Homes

Under Asking Price759 Homes

Insight

If you're buying a home in New York, expect to pay close to the asking price. 47.9% of homes here sold near the asking price last month.

Summary: A total of 1,857 homes were sold or pending in New York in January 2025, down by 6.3% month-over-month. Of the 1857 sold homes, 41% were sold under asking, 48% were sold at asking, and and 11% were sold over asking.

Days on Market for New York, NY

How long does it take to sell a home in New York, NY?

Breakdown of Home Sale Times

Under 30 Days278 Homes

30 – 90 Days357 Homes

Over 90 Days321 Homes

Insight

Avg time on Rocket Homes in New York has remained consistent over time.

Summary: During January 2025, 1857 homes were sold in New York; 15% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
79 DaysThis YearJan 2025
93 Days1 year agoJan 2024
-14.7 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in New York had an average listing age of 79 days in Jan 2025, down by 14.7% compared to the previous year.

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Newest Listings in New York, NY

What homes are available in New York, NY?

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Nearby markets

Popular Cities with Homes for Sale in New York

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Based on information from Real Estate Board of New York, OneKey MLS, Brooklyn MLS, Stellar MLS, and Miami MLS for the period 02/01/2023 - 02/01/2025

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 2/19/2025, 4:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Listings courtesy of OneKey MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 2/19/2025, 4:11:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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The accuracy of all information, regardless of source, including but not limited to open house information, square footage and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Brooklyn Multiple Listing Service and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited.

Copyright © 2025 Brooklyn Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 2/19/2025, 4:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Listings courtesy of Stellar MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

IDX Copyright 2025 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/19/2025, 4:20:00 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX © 2025 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/19/2025, 4:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.