How is the New York housing market doing?

The New York housing market is seeing more homes for sale, and they are moving a bit faster, but the prices haven't changed much. The median listing price is \$792,000, which is only a small increase from last year. There are 38,910 active listings, which is 4.8% more than a year ago. New listings have jumped significantly, up 28.2% over the past year to 22,704. Homes are spending an average of 47 days on the market, which is slightly less time than last year. Even with more homes available, they are still selling relatively quickly. The median price per square foot has gone up by 3.4% over the last year, now at \$537. However, almost one in ten homes (9.3%) have had a price reduction, which is about the same as last year. The number of homes going under contract has dropped by 17.6% compared to last year. If you are looking to buy, you have more choices now than you did a year ago. If you are selling, be aware that while homes are moving fast, there are also more homes competing for buyers.