Is now a good time to sell my home in New York?

There are good parts and bad parts to selling your home in New York right now, so it depends on what you are looking for. Median listing prices are up a bit, but there are more homes for sale, which means more competition. Also, homes are taking a little longer to sell than before. Overall, the market shows some mixed signals for sellers. The typical home in New York is listed for $792,000. This is up 2.2% from the previous month and 0.7% compared to last year. If you sell, you might get a little more than homes were valued at recently. There are 38,910 homes on the market, which is 4.8% more than last year. This means your home will have more rivals. There are also 28.2% more new listings compared to last year, with 22,704 new homes added recently. More homes on the market can make it harder to find a buyer quickly. Homes are staying on the market for 47 days, which is slightly faster than the previous year. However, fewer homes are going under contract compared to the number of active listings. The pending ratio is 0.52, down 17.6% from last year, suggesting that it might take a bit longer to find a buyer. About 9.3% of homes have had their prices reduced. That's about the same as last year. This suggests that some sellers are having to lower their prices to attract buyers. If you are thinking of selling, be prepared for more competition and understand that your home might take a bit longer to sell than it would have last year. Pricing your home well from the start will be key.