How much is my New York home worth?

This May in the New York area, the typical home was listed for $775,000. That's just a tiny bit more than last month, but a noticeable drop from a year ago. It's important to remember this is a general number for the whole area, not an exact appraisal of your specific home. Overall, it suggests a slight cooling in prices over the last year. There are more homes for sale now than there were a year ago. We saw 37,154 active listings, which is up over 4% from last year. More new homes also came on the market, with 17,468 new listings, up over 5% from last year. Homes in New York are selling faster than last year. The typical home stays on the market for 42 days, which is almost 7% less time than a year ago. This suggests that even with more homes available, buyers are still acting relatively quickly. Fewer homes are going under contract compared to a year ago. The number of pending listings is 18,533, and the pending ratio is 0.50, which is down 18% from last year. This means for every two listings, one is going under contract. For sellers, this means while prices have dipped slightly from last year, homes are still selling faster. Be sure to price your home competitively, especially since more homes are coming onto the market.