New York, NY 10016 Real Estate Market Report

ZIP Code: 10016
Report Date: June 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Liquidity metrics unavailable due to insufficient data quality.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the New York 10016 area average 6.63%, reflecting a market where property owners with older loans below this threshold currently hold a significant interest rate advantage.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. median sold price (unavailable in provided metrics) — the dataset does not include a median sold price, which may indicate limited recent transaction reporting or a small analyzed transaction sample; use caution when relying on listing prices as a proxy for realized market value and prioritize verified closed-sale data where available.

2. median market rent 5,315 — rental rates are a clear strength in the ZIP code with up rent year-over-year trend, suggesting landlords and investors can expect continued rent resilience in smaller units and rental-focused strategies.

3. price year-over-year trend: down — sales pricing pressure is down, while the overall market temperature reads as neutral; this combination suggests modest softening in sold prices but balanced buyer-seller interaction, implying price-sensitive negotiation for active listings.

4. current 30-year fixed mortgage rates 6.63% and interest rate pressure: moderate — elevated borrowing costs relative to historical lows create a wedge that may constrain buying power, supporting slower transaction velocity and favoring buyers who are rate-sensitive; paired with a relatively constrained active supply in the analyzed sample, expect selective pricing friction rather than broad market collapse.

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Notable Properties

The following 1 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

New York, NY 10016 Real Estate Market Report

ZIP Code: 10016
Report Date: June 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the New York 10016 area average 6.63%, reflecting a market where property owners with older loans below this threshold currently hold a significant interest rate advantage.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood's primary market value indicator is the median sold price: $1,419,000, which serves as the most reliable recent transaction signal and suggests that closing prices are tracking above the median listing price; this gap may indicate pricing resilience or reporting lag between asking and closing levels.

2. The price year-over-year trend is down, indicating recent softening in sale prices; given the market temperature is neutral, this down trend may reflect modest cooling rather than a pronounced market shift.

3. The median days on market is 403 days, consistent with slower sales velocity and greater pricing friction; this pace suggests declining transaction speed and that sellers may need longer exposure or pricing adjustment to convert listings into closed sales.

4. Rental fundamentals are strengthening while financing pressure is moderate: the median market rent is $5,405 and the rent year-over-year trend is up; at the same time interest rate pressure is moderate with local 30-year fixed mortgage rates averaging 6.63%, which may support continued rental demand even as purchase affordability is constrained.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.