New York Housing Market

More homeowners listed their homes for sale in July, giving buyers fresh options during the summer selling season. Even so, inventory continued to shrink, helping push home prices to a new record high and keeping competition elevated across much of the New York housing market.

Buyers continued to pursue homeownership despite high housing costs. Home sales totaled 5,051 in July, down by just 15 transactions from a year ago. While overall sales dipped slightly, activity remained relatively stable, suggesting many households are still moving forward with purchases rather than waiting for market conditions to change.

Buyers looking for single-family homes continued to face the strongest competition. Single-family home sales increased 6.8% from a year ago, while townhome sales were essentially unchanged and condo sales declined.

One bright spot for buyers was an increase in newly listed homes. More than 7,100 properties came onto the market in July, a 6.5% increase from a year earlier. The additional listings gave buyers more opportunities than they had a year ago and could help extend the summer buying season.

Still, overall choices remained limited. The number of homes for sale fell 4.1% year over year to 23,892, even as new listings increased. Inventory also remained 30.7% below July 2019 levels, highlighting how far the market remains from pre-pandemic supply conditions. Homes may be coming onto the market more often, but buyers are still snapping them up quickly. Homes sold in a median of 94 days in July, slightly faster than a year earlier, a sign that demand remains steady despite high housing costs.

View the latest homes for sale in New York.

Limited inventory continued to put upward pressure on home prices. The median home sale price climbed 5.1% over the past year to a record $799,000, nearly double the national median.

New York ranked third among the nation's 40 largest markets for annual home price growth and remained the fifth most expensive major housing market in the country. New York continued to stand out among major Northeast housing markets, topping gains in Boston and Philadelphia, while slightly edging Pittsburgh.

The median home sale price in New York increased by 5.1% compared to the same time last year, while the national median price rose by 2.6%.

New York median home prices rose by $39,000 year-over-year on a nominal basis in July to $799,000. Meanwhile, the national median home price increased by $10,000 to $400,000.

New York was the fifth highest-priced housing market among the top 40 largest markets last month. The New York median home price of $799,000 was 99.8% above the national median home price. New York's median home price in July is the highest observed price for any month in the market.

The median price of New York single-family homes rose by $25,000 over the past year to $875,000, while the median townhome price grew by 1.1%, and the median condo price rose by 5.5%.

The number of homes for sale in New York decreased by 4.1% in July compared to the same time last year, while national homes for sale rose by 4.4%.

New York homes for sale fell by 1,010 year-over-year in July to 23,892 homes for sale. New York ranked 31st, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in July.

New York homes for sale were below their pre-pandemic levels in the month of July. New York homes for sale were 30.7% below the July 2019 total of 34,485.

New York single-family homes for sale decreased by 3% to 7,906 in July. In comparison, townhomes for sale fell by 13.2% to 1,272, and condos for sale declined by 3.7% to 14,714.

The number of home sales in New York decreased by 0.3% in July compared to the same time last year, while national home sales rose by 2.9%.

New York home sales declined by 15 year-over-year on a nominal basis in July to 5,051. For context, 5,066 sales closed in New York in July 2025.

New York ranked 29th for the annual change in home sales out of the top 40 U.S. markets in July on a percentage basis. This year's July decrease of 0.3% compares to the 0.1% year-over-year increase in July 2025.

New York single-family sales increased by 6.8% in July to 2,444. In comparison, townhome sales rose by 0.3% to 332, and condo sales fell by 7% to 2,275.

For questions and commentary about this report:

Victor Rodriguez, Senior Director of Market Analytics at CoStar and Homes.com, based in 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

vrodriguez@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in New York during July 2026.

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.

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.

Definition of Inventory

Inventory is the number of unique active listings that were for sale 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.

Definition of Home Sales

The total number of closed home sales on the MLS during the 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.

Definition of Days on Market

The median number of days from initial listing to closing of properties whose closing occurred during the month. This data includes detached, attached, and condominium homes. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Months of Supply (MOS)

Months of Supply (MOS) is equal to active listings divided by homes sold in a given 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.

Definition of Sale to List Price Ratio

The sale-to-list price ratio is the ratio of the sale (closing) price to the original list price, whose closing occurred during the 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.

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.