Department of Numbers

This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

New York City Home Prices

The data below shows median sales prices for New York City homes, co-ops and condos as determined from New York City property records in December 2010. For the month, the median price for all homes and apartments sold in New York City was $495,0001. Pricing by housing type is broken out in the table below and a history of monthly median sales prices are shown further down. For a less volatile look at pricing, see the quarterly and 12 month rolling median price data. Affordability based on income and recorded home sales is also calculated.

New York City Median Home Prices for December 2010

New York City
Housing Type
December 2010
Median Price
Month/Month Year/Year
Houses $475,000 +3.09% +7.03%
CO-OPs $371,250 +9.35% +23.96%
Condos $682,602 +9.82% +13.39%
Combined $495,000 +4.21% +12.50%

§ — Small sample for the period. Changes not calculated and data point not shown in charts.

Monthly Home Price History for New York City

The median price for all homes and apartments in new york city reached its most recent peak of $560,734 in June 2007. At $495,000, the current median price is now 11.72% lower. When the median price hit its lowest point (to date) of $425,000 in November 2009 it was 24.21% off the most recent peak. It has since climbed 16.47% from that post peak low.

Monthly Median Sales Prices: Houses, CO-OPs, Condos, Combined

monthly median sales prices in New York City for houses, co-ops, condos and combined properties

History of Monthly Median Sales Prices for the Last Year

Month Houses CO-OPs Condos Combined
December 2010 $475,000 $371,250 $682,602 $495,000
November 2010 $460,750 $339,500 $621,566 $475,000
October 2010 $450,000 $331,990 $659,000 $470,000
September 2010 $447,344 $354,950 $616,041 $458,000
August 2010 $438,500 $430,000 $667,126 $485,000
July 2010 $431,849 $399,000 $647,861 $475,000
June 2010 $450,000 $300,000 $548,250 $435,000
May 2010 $425,000 $320,000 $612,975 $445,000
April 2010 $425,000 $320,000 $616,041 $448,000
March 2010 $430,000 $325,000 $565,000 $445,000
February 2010 $445,368 $317,500 $590,000 $455,000
January 2010 $438,786 $320,000 $585,000 $445,000
December 2009 $443,807 $299,500 $602,000 $440,000

Quarterly Rolling Home Price History for New York City

For the 3 month period ending December 2010, the combined median price for all New York City homes was $475,000. This is 8.92% above the median price for the 3 month period ending one year ago in December 2009.

The quarterly rolling median price for all homes and apartments in new york city reached its most recent peak of $550,000 in August 2007. At $475,000, the current quarterly rolling median price is now 13.64% lower. When the quarterly rolling median price hit its lowest point (to date) of $430,950 in June 2009 it was 21.65% off the most recent peak. It has since climbed 10.22% from that post peak low.

Quarterly Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined

quarterly rolling median sales prices in New York City for houses, co-ops, condos and combined properties

History of Quarterly Rolling Median Sales Prices for the Last Year

Quarter Ending Houses CO-OPs Condos Combined
December 2010 $459,000 $345,000 $640,000 $475,000
November 2010 $450,000 $347,750 $628,312 $467,548
October 2010 $445,000 $375,000 $642,006 $472,524
September 2010 $439,000 $392,502 $641,751 $475,000
August 2010 $443,000 $350,000 $610,000 $458,500
July 2010 $440,000 $325,000 $595,338 $450,000
June 2010 $439,000 $315,000 $580,000 $440,000
May 2010 $427,000 $321,250 $600,000 $446,160
April 2010 $434,000 $320,000 $590,338 $450,000
March 2010 $437,954 $320,000 $580,000 $449,926
February 2010 $440,000 $310,000 $591,603 $446,160
January 2010 $439,571 $307,500 $566,564 $435,000
December 2009 $441,586 $300,000 $587,500 $436,100

12 Month Rolling Home Price History for New York City

The 12 month rolling median price for all homes and apartments in new york city reached its most recent peak of $531,000 in March 2008. At $455,000, the current 12 month rolling median price is now 14.31% lower. When the 12 month rolling median price hit its lowest point (to date) of $440,000 in December 2009 it was 17.14% off the most recent peak. It has since climbed 3.41% from that post peak low.

12 Month Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined

12 month rolling median sales prices in New York City for houses, co-ops, condos and combined properties

History of 12 Month Rolling Median Sales Prices for the Last Year

Year Ending Houses CO-OPs Condos Combined
December 2010 $440,000 $335,000 $610,000 $455,000
November 2010 § § § §
October 2010 $440,000 $325,000 $600,000 $450,000
September 2010 $440,000 $325,000 $600,000 $450,000
August 2010 $440,000 $322,500 $600,000 $449,000
July 2010 $440,000 $318,820 $593,000 $446,160
June 2010 $442,000 $315,000 $590,000 $445,000
May 2010 $440,000 $314,000 $600,000 $445,000
April 2010 $440,000 $310,270 $600,000 $445,000
March 2010 $440,000 $310,000 $600,000 $442,500
February 2010 $442,000 $300,192 $600,000 $442,000
January 2010 $443,000 $300,000 $600,000 $440,000
December 2009 $445,000 $290,000 $600,767 $440,000

New York City Home Affordability

In 2007, the median household income in New York City was $47,5812. Home affordability guidelines suggest that no more than 30% of household income be spent servicing a home loan. For the median New York City household, this would have meant that a monthly mortgage payment should not have exceeded $1,189 using the 2007 average mortgage rate of 6.34%3. Combining this with 2007 property sales records, we can calculate that the median income household could have potentially afforded approximately 11.13% of the homes and apartments sold in New York City in all of 2007.

1. All sales metrics are calculated from NYC Rolling and NYC Annual property sales. Metrics derived from rolling data are preliminary as some sales take months to report.

2. Affordability data, including median income by borough, are calculated from metrics in the NYC Datamine Economic and Housing Profile datasets.

3. Average mortgage rates are from Freddie Mac Primary Mortgage Market Survey Archives and do not include points.