The New York-Newark market right now
Sales figures: Redfin Data Center, market tracker (Redfin, a national real estate brokerage), New York, NY metro area, May 2026, all residential property types. Redfin reports this metro in divisions. Figures shown are for the New York-Jersey City-White Plains, NY-NJ division, the largest. Typical value: Zillow Home Value Index (ZHVI), Zillow Research, August 2026, mid-tier homes, seasonally adjusted. These are area-wide figures, not a value for any one home.
With about 5.9 months of supply, this is a fairly balanced market by the usual rule of thumb, and homes sold at or above their list price on average.
Show the numbers
| Month | Median sale price |
|---|---|
| May 2026 | $814,250 |
| Apr 2026 | $790,000 |
| Mar 2026 | $790,000 |
| Feb 2026 | $790,000 |
| Jan 2026 | $780,000 |
| Dec 2025 | $780,000 |
| Nov 2025 | $775,000 |
| Oct 2025 | $765,000 |
| Sep 2025 | $780,000 |
| Aug 2025 | $801,000 |
| Jul 2025 | $811,000 |
| Jun 2025 | $820,000 |
| May 2025 | $795,000 |
| Apr 2025 | $771,000 |
| Mar 2025 | $752,500 |
| Feb 2025 | $765,000 |
| Jan 2025 | $775,000 |
| Dec 2024 | $740,000 |
| Nov 2024 | $740,000 |
| Oct 2024 | $735,000 |
| Sep 2024 | $748,000 |
| Aug 2024 | $750,000 |
| Jul 2024 | $780,000 |
| Jun 2024 | $765,000 |
| May 2024 | $750,000 |
Source: Redfin Data Center, New York, NY metro area. Monthly figures, not seasonally adjusted, so some ups and downs are just the time of year.
What the metro area covers
The Census Bureau counts about 19,940,274 people in the New York-Newark-Jersey City, NY-NJ metro area, across 22 counties. Property taxes, recording fees and some transfer taxes are set county by county, so check the county your home is in.
| County | Population (2024 estimate) |
|---|---|
| Kings County, NY, NY | 2,617,631 |
| Queens County, NY, NY | 2,316,841 |
| New York County, NY, NY | 1,660,664 |
| Suffolk County, NY, NY | 1,535,909 |
| Nassau County, NY, NY | 1,392,438 |
| Bronx County, NY, NY | 1,384,724 |
| Westchester County, NY, NY | 1,006,447 |
| Bergen County, NJ, NJ | 978,641 |
| Middlesex County, NJ, NJ | 890,119 |
| Essex County, NJ, NJ | 881,527 |
| Hudson County, NJ, NJ | 736,185 |
| Ocean County, NJ, NJ | 666,434 |
Plus 10 smaller counties.
Towns with the most ZIP codes in the area: New York (NY), Brooklyn (NY), Bronx (NY), Newark (NJ), Paterson (NJ), Jamaica (NY), Staten Island (NY), Jersey City (NJ), Flushing (NY), Great Neck (NY), White Plains (NY), Port Washington (NY).
Population and counties: U.S. Census Bureau, Vintage 2024 population estimates and 2023 metro delineations.
New York rules that affect sellers
Transfer tax
New York State's real estate transfer tax is $2 for each $500 of the sale price, and it is paid by the seller (the buyer must pay if the seller does not). Buyers of residences selling for $1 million or more pay an additional 1% mansion tax, and New York City adds its own Real Property Transfer Tax of 1% to 1.425% for homes on top of the state tax.
Local add-ons: New York City adds its Real Property Transfer Tax (1% up to $500,000, 1.425% above for 1 to 3 family homes and condos), plus a state additional base tax on NYC residential sales of $3 million or more. Check with your attorney whether your locality adds another tax.
Source: New York State Department of Taxation and Finance, Real Estate Transfer Tax
Seller disclosure
Yes. Under the Property Condition Disclosure Act (Real Property Law section 462), the seller of a one to four family home must complete, sign and deliver a Property Condition Disclosure Statement to the buyer before the buyer signs a binding contract. Condominiums, co-ops and vacant land are not covered.
Who handles the closing
New York closings are customarily handled by attorneys, and buyer and seller each usually have their own lawyer, who prepares or reviews the contract and attends the closing. This is based on a title insurer's industry summary, not an official state page.
Also worth knowing
In New York City, the seller also pays the city's Real Property Transfer Tax: 1% of the price for 1 to 3 family homes and condo units up to $500,000, and 1.425% above that. Buyer and seller can both be held liable if it goes unpaid.
Source: NYC Department of Finance, Real Property Transfer Tax
Also worth knowing
A seller who willfully fails to deliver the Property Condition Disclosure Statement is liable for the buyer's actual damages, in addition to any other remedies the buyer has.
Also worth knowing
The 1% mansion tax on residences of $1 million or more, and the New York City supplemental tax on residences of $2 million or more, are paid by the buyer, not the seller.
Source: New York State Department of Taxation and Finance, Real Estate Transfer Tax
Checking an agent's license
Real estate agents in New York are licensed by the New York Department of State, Division of Licensing Services. You can look up any agent before you work with them.
New York Department of State, Division of Licensing Services license lookup
Rules checked 2026-09-30. They change, and local practice varies: confirm with your title company, closing attorney or agent before relying on them. This is general information, not legal or tax advice.
This metro area crosses state lines. If your home is in New Jersey, that state's rules apply instead.