New York, NY 10031 Real Estate Market Report

ZIP Code: 10031
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The current market conditions in New York, NY (ZIP: 10031) reveal a median listing price of $2,595,000, indicating a competitive pricing environment. However, the neighborhood has shown mixed signals, with a median days on market of 110, suggesting slower sales velocity and potential pricing friction. The median market rent stands at $3,316, reflecting strong rental demand that continues to push rents higher, which may indicate a robust rental market despite the overall sales dynamics.

In terms of inventory, there appears to be elevated inventory levels relative to sales activity, which may suggest a more balanced market environment compared to the broader Manhattan area. The price year-over-year trend is reported as up, while the market temperature remains neutral, indicating a stable yet cautious market. Elevated interest rate pressure may also be influencing buyer behavior, contributing to the current market dynamics.

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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 the New York market average around 6.25% APR, which is slightly higher than some rates seen earlier in 2026, suggesting property owners who locked in lower rates are currently holding a favorable position.

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 $2,595,000 suggests competitive pricing, yet reflects moderate sales activity in the area.

2. With a median days on market of 110, the market is experiencing slower sales velocity, which may indicate pricing friction for sellers.

3. The median market rent of $3,316 highlights strong rental demand, pushing rents higher despite the sales dynamics.

4. The price year-over-year trend is reported as up, suggesting a positive shift in market sentiment.

5. The market temperature is neutral, indicating a balanced environment where supply and demand are relatively aligned.

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Notable Properties

The following 3 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.