Should I buy new construction or resale in New York?

When deciding between new construction and resale homes in your area, consider what matters most to you in a home purchase. The data shows some shifts that might influence your choice, depending on your priorities. Right now, the median listing price in your area is $742,000. This price is slightly down, both from the previous month (-0.9%) and compared to a year ago (-2.3%), which could mean more favorable pricing opportunities overall. There are more homes available now than a year ago, with active listings up by 6.3% to 38,158. However, fewer new homes are coming onto the market, with new listings down 4.6% over the past year. This means while there's more to choose from overall, finding a brand-new listing might be a bit harder. Homes are selling a little faster than before, with the median days on market at 56, which is 3.5% quicker than a year ago. Also, 10.3% of homes have had their prices reduced, a slight increase from last year, suggesting some sellers are adjusting their expectations. For you, this means if you value having more options, the current market has a good number of active listings to explore. If you're looking for a deal, the slight price drops and increased price reductions could work in your favor.