In September, home prices fell moderately from the month before, with a median listing price of $1,425,000.<\/p>\n
The number of listings on the market grew 1.7% from last month, which is a smaller increase than normal for this time of the year in New York City, and homes are also selling faster than at the same time last year.<\/p>\n
Typically, home price per square foot in New York City tend to fall in September. And the most recent data shows that the price per square foot decreased by 0.4% compared with the month before.<\/p>\n
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.8%, which means price changes in the Big Apple are smaller the national market.<\/p>\n
In September, there were 6,081 homes for sale in New York City, which was 1.7% more than the month before and 8.4% less than the same time last year.<\/p>\n
Meanwhile, active inventory across the nation rose by 0.2% from last month to 1,100,407.<\/p>\n
Homes in New York City take an average of 84 days to sell, according to September figures.<\/p>\n
This is nine days less than the previous month and six days less than the same month last year.<\/p>\n
For comparison, nationally homes spent an average of 62 days on the market in September.<\/p>\n