New York, NY 10023 Real Estate Market Report

ZIP Code: 10023
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in New York, NY (ZIP: 10023) stands at $7,915,000, reflecting a stable market with slight appreciation trends. The neighborhood has increased up since 2023, indicating a positive trajectory in property values. With a median days on market of 693, the sales velocity appears slower, suggesting a potential mismatch between buyer expectations and current market conditions.

Inventory levels are characterized by elevated supply relative to sales activity, which may indicate a cooling in buyer urgency. The market temperature is currently classified as neutral, suggesting a balanced environment where neither buyers nor sellers hold a distinct advantage. The strong rental demand is further evidenced by a median market rent of $4,980, pushing rental prices to record highs despite elevated interest rate pressures averaging 6.38% for 30-year fixed mortgages.

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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

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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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 New York, NY 10023 are averaging 6.38%, which is 0.73% higher than the average rate of 5.65% seen in early 2026.

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 median sold price of $7,915,000 indicates a stable market with slight appreciation trends.

2. With 693 days on market, the sales velocity is slower, suggesting potential pricing friction.

3. Elevated inventory levels relative to sales activity may indicate a softening in buyer urgency.

4. The market temperature is neutral, reflecting a balanced environment for transactions.

5. Strong rental demand is evident with a median market rent of $4,980, contributing to record-high rental prices.

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Notable Properties

The following 7 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.