New York, NY 10028 Real Estate Market Report
ZIP Code: 10028
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 New York are approximately 6.46%, reflecting a stable market environment for property owners in this area compared to earlier 2026 trends.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The primary market indicator, the median sold price, stands at 6,800,000, which establishes a high-value baseline for recent transactions and suggests premium pricing for SFR and condominium assets in 10028; representative recent sale pricing should guide underwriting and comps.
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Sales velocity is slow: the median days on market is 419, which suggests extended marketing periods and pricing friction that may indicate a neutral to slightly deliberate buyer response rather than rapid turnover.
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Price density supports the high-dollar market: the median price per square foot is 2,548, reinforcing that per-unit area valuation remains strong even as transaction pacing slows; pair this with targeted pricing strategies to reduce time on market.
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Rental markets are strengthening while financing pressure is elevated: the median market rent is 4,600 and rent is trending up, offering income-side support, but interest rate pressure is elevated with current 30-year fixed mortgage rates near 6.46%, which may constrain buyer purchasing power and lengthen deal cycles.
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.
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.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
New York, NY 10028 Real Estate Market Report
ZIP Code: 10028
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 New York are approximately 6.46%, reflecting a stable market environment for property owners in this area compared to earlier 2026 trends.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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median sold price: $3,168,500 — This figure represents the representative recent sale level in 10028 and, together with a notably long median days on market of 388, suggests slower sales velocity and possible pricing friction; balanced market dynamics appear to be in effect between buyers and sellers.
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median listing price: $3,600,000 exceeds the median sold price of $3,168,500, which may indicate persistent seller price expectations above realized transaction prices and potential negotiation leverage for informed buyers; pricing gap may require sellers to adjust expectations to match buyer willingness to pay.
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median price per square foot: $1,791 combined with the observed price trends shows prices are trending up year-over-year, supporting measured appreciation while maintaining a neutral market temperature; this suggests cautious confidence for long-term holders.
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median market rent: $5,195 and a rent year-over-year trend that is up point to continued strength in the rental market, while elevated interest rate pressure (current 30-year fixed mortgage rates ~6.46%) elevates financing costs and may temper transaction volume despite the rental upside.
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 above market average
Sold at market average
Sold below 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, 1.2% 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
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