NYC Asking Prices Hit Record High, 10% Jump Over Last Year: Study

NEW YORK CITY — Homeownership looked increasingly bleak in New York City in October as the median asking price for a home reached a record high.

Citywide, the median asking price for a home was $1.1 million in October — a 10.6 percent increase over the same period last year, according to a recent study from StreetEasy.

It's the highest median asking price in the city since 2017 — and asking prices were up from last year in all five boroughs.

Even still, New Yorkers were buying. October saw 1,858 homes enter contract across the city, an 8.1 percent increase from the same month last year.

Manhattan led the city with a median asking price of $1.595 million, the same as September. Some neighborhoods, like the Upper East Side, soared as high as $1.899 million, while Midtown East listings had the lowest median asking price at $895,000.

The median asking price for a Brooklyn home hit $1.095 million in October, a 15.3 percent increase over the same period last year, according to the report.

But the increase did not deter many Brooklyn buyers — 511 homes entered contract in Brooklyn in October, a 19 percent increase over September. Sellers had the leg up in October, and they received 98.4 percent of what they requested.

In Queens, buyers had a little more negotiation power. Queens sellers only won 96.9 percent of what they requested, with the median asking price sitting at $649,000 in October.

It's an increase of 3.2 percent since a year ago and the highest level for Queens since 2020.