Should I buy new construction or resale in New York?

It’s a good time to consider new construction, but resale homes are also a strong option right now. Here’s what you need to know to decide what’s best for you. The median listing price for homes in the area is $792,000, which is slightly up by 2.2% from the previous month and 0.7% higher than last year. The average listing price is much higher at $1,579,270, a slight decrease of 0.2% compared to last year. These numbers show a stable but slowly rising market overall. There are more homes to choose from currently. New listings jumped by 28.2% over the last year, with 22,704 homes recently added. The total number of active listings is also up by 4.8% from last year, with 38,910 homes on the market. This means more options for you, whether you choose new construction or resale. Homes are selling a bit faster now. The median time a home stays on the market is 47 days, which is 4.1% quicker than last year. Also, 9.3% of homes have lowered their prices, which is only a small change of 0.4% compared to last year. This suggests that while homes are generally selling faster, some sellers are still open to negotiating. With more choices and slightly faster sales, you have a good opportunity to find a home that fits your needs. Compare new construction to existing homes carefully to see which offers the best value and features for your situation.