Best up-and-coming neighborhoods in New York?

The New York metro area is seeing a slight drop in median listing prices right now, but prices per square foot are up. This suggests that while overall listing prices might be coming down a bit, the value of space itself is still increasing. This could mean some areas are becoming more appealing for buyers. Currently, the median listing price is $772,250, which is a 2.5% decrease from the previous month. However, looking at the price per square foot, it has gone up to $522, a 2.6% increase over the past year. This shows that buyers are paying more for the size of the homes. Homes are also selling a little faster, with the median time on the market being 53 days, which is nearly 3% quicker than it was a year ago. Even with more homes available for sale compared to last year, the number of new homes coming onto the market has slowed down. There are 37,898 active listings, which is almost 3% more than last year, but new listings are down 4.5% over the past year. This indicates that while there's more inventory, sellers are being more cautious about listing their homes. Nearly 10% of homes on the market have had their prices reduced. This is a small increase compared to last year and suggests that some sellers are adjusting their expectations to attract buyers. For those looking to buy, keep an eye on neighborhoods where the price per square foot is rising, as this could indicate growing demand and future appreciation. While overall listing prices have eased slightly, the increase in price per square foot shows the underlying value of properties is still strong.