Whether you’re a new homebuyer or an experienced seller, buying and selling real estate can be complicated. The more information you have, the easier it will be to navigate the process and make smart decisions. Simplified New York Property Sales provides you with all the data you need to understand how NYC real estate prices are trending.
Real estate prices in New York are a reflection of both local economic factors and national trends, which means they can be volatile at times. However, over the long term, real estate values are expected to rise by 2.2% annually.
Homeowners and investors are increasingly Simplified New York Property Sales for the lifestyle, job opportunities, and amenities that the Big Apple offers. As a result, property sales in New York continue to be strong.
New York State laws require home sellers to disclose any major issues that they are aware of prior to closing. These issues can include radon, lead paint, pest infestations, structural damage, and outdated plumbing and electrical wiring. This can be a significant hurdle for buyers, especially in New York City, where many properties are older and may need costly repairs or updates.
In 2023, the average NYC home sold for close to its initial asking price, suggesting that even in this highly competitive market, sellers can maintain their pricing strategies. However, rising interest rates have caused some would-be buyers to delay their purchase decision, and higher mortgage costs have added to the upfront cost of a new home.
To help you decide where to buy and sell, our Simplified New York Property Sales data is updated monthly with detailed information on property sales in New York City. Our data is sourced directly from ACRIS, the City’s official system for recording deeds, mortgages and other real estate documents. The data is carefully analyzed using standard IAAO methods to ensure that ratios are at arm’s length, and outliers are trimmed. This ensures that the results are statistically significant and representative of the market.
This data is also available on the City’s Open Data portal in an easy-to-use, spreadsheet format. This allows users to sort, filter and export the data or access it through an Application Programming Interface (API). To learn more, visit our FAQs page.
To get the most out of your New York property sale, make sure it’s listed on the MLS. Homes listed on the MLS sell faster and for 13% more than those that aren’t. And don’t forget to hire a professional photographer and invest in a quality listing website.