New York, NY 10023 Real Estate Market Report
ZIP Code: 10023
Report Date: May 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.
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.
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.
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.
Property Taxes
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.
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 NY 10023 market average 6.46%, reflecting a period where typical loans in this area remain higher than the historical lows seen in recent years.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
-
The neighborhood's primary valuation indicator, the median sold price of $7,915,000, suggests high-end transaction activity; given the neutral market temperature, this level of closed pricing appears to reflect stable seller realization rather than speculative escalation.
-
Liquidity signals point to slower realized turnover: the median days on market of 664 implies extended marketing timelines and pricing friction, which may require sellers to set realistic expectations on time-to-close and consider targeted pricing or concessions to accelerate offers.
-
Price structure shows premium density at $1,252 per square foot (median price per square foot) while rental strength is notable with median market rent at $5,250; with price year-over-year trend up and rent year-over-year trend up, investors and owners should weigh continued rent growth against longer sale timelines when sizing hold vs. sell decisions.
-
Financing and broader pressure: interest rate pressure is elevated, and current 30-year fixed mortgage rates in the market average 6.46%, which may constrain some buyer qualification and support conservative pricing strategies despite the market temperature being labeled neutral.
Notable Properties
The following 6 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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
New York, NY 10023 Real Estate Market Report
ZIP Code: 10023
Report Date: May 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.
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.
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.
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.
Property Taxes
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.
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 NY 10023 market average 6.46%, reflecting a period where typical loans in this area remain higher than the historical lows seen in recent years.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
-
The most reliable market signal is the median sold price of $1,750,000, which anchors recent transaction-level value and, together with a median days on market of 246, suggests slower sales velocity and pricing friction in executed deals.
-
The median listing price sits at $2,072,500 versus the median sold price of $1,750,000, indicating seller asking expectations are above recent transaction prices and may be contributing to pricing negotiation pressure at closing.
-
The market shows a median price per square foot of $1,647 and a median market rent of $5,731, while rent year-over-year trend is up; these signals point to strengthening rental fundamentals even as transaction velocity remains moderate—rental demand appears supportive of investor and owner-occupier interest.
-
Interest rate pressure is elevated and current financing conditions are material: Current 30-year fixed mortgage rates in the New York NY 10023 market average 6.46%, which, combined with the observed pricing and liquidity profile, may temper buyer affordability and lengthen negotiation timelines; treat rate-driven demand softness as a key downside risk to near-term price momentum (elevated interest rate pressure).
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Sold above market average
Sold above market average
Sold at market average
Sold below market average
Sold at market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 1.1% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
Get personalized market intelligence
Analyze properties in New York, NY with valuations, rental estimates, highest-and-best-use signals, and operating costs.