Median Home Prices Hit Record High: Is Now the Right Time to Buy or Sell in New York?

Home prices across New York reached new highs in late 2025, and those trends are shaping the market as we move into 2026. With strong demand across NYC, Queens, and Westchester, and inventory gradually increasing, both buyers and sellers have real opportunities this year.

Why Prices Are Rising

Even with more homes coming onto the market, demand across the region remains steady.

New York City:

• Overall prices rose 10.3% year-over-year going into 2026.

• Condo prices increased 11.3%.

• Co-op prices rose 9.5%.

Queens:

• Median property prices up 4.1% from the previous year.

• 1–3 family homes averaged $1M+ for the first time.

• Apartment prices climbed from $487K to $550K year-over-year.

Westchester:

• Median home prices are now around $999,000 (+15.5%).

• Condo prices average $552,000, up 15.6% from the prior year.

Is It a Good Time to Buy?

Yes — depending on your goals.
Inventory has been rising since late 2025, giving buyers more options and slightly more negotiating power.

• In NYC, condo and co-op markets offer more selection than last year.

• In Queens, prices are rising but still more accessible than Manhattan, making it ideal for value-focused buyers.

• In Westchester, buyers seeking space should be prepared for competition due to strong demand.

Is It a Good Time to Sell?

Absolutely.
Record-high pricing across all three markets continues to give sellers a clear advantage.

• NYC sellers benefit from strong condo and co-op appreciation.

• Queens homeowners can capitalize on a historic jump into the $1M+ average for single-family homes.

• Westchester sellers are seeing some of the fastest appreciation in the region.

What’s Next for the Market

As 2026 progresses, buyers may gain more flexibility due to rising inventory, but prices are expected to remain strong. Sellers should still see solid returns, especially in popular neighborhoods and well-maintained homes.