Home sale prices in New York declined by 2.9% in January compared to the same month the prior year, ranking among the weakest-performing major metros in the U.S. for price growth.
New York’s median home price fell in January, contrasting with the national trend
New York’s median home price fell year over year in January, dropping by 2.9% to $717,250. In contrast, the median home price nationwide increased 1.3% annually to $374,900 in January.
New York price appreciation is weakest among Northeastern cities
Of the largest markets in the Northeast, all saw year-over-year performance exceeding that of New York, with Philadelphia (8.6%), Boston (3.7%), and Pittsburgh (0.0%) all showing superior home price growth.
New York is still one of the most expensive markets in the nation
New York ranks fifth out of the top 40 U.S. markets for housing prices with a median price of $717,250. However, New York has fallen in the bottom half of the list for price growth on both a nominal and percentage basis.
For questions and commentary about this report: Victor Rodriguez, Senior Director of Market Analytics at Homes.com, based in New York, New York, is available for interviews to provide expert insights on this data and the broader residential real estate market.
Victor Rodriguez
Senior Director of Market Analytics
Homes.com
Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all home sales are accounted for, they provide an early indication of home sale price appreciation in Cleveland during January 2026.
Definition of Sale Prices
Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.
For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.
About the Homes.com Market Analytics Team
The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.
About Homes.com Analytics Data
The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.
The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.