New York, NY 10031 Real Estate Market Report

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

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Executive Overview

The neighborhood of New York, NY (ZIP: 10031) exhibits a stable market environment, with the median sold price currently at $2,995,000. This reflects a market that has remained relatively flat, suggesting a balance between buyer and seller expectations. The overall market sentiment is building confidence for an active spring season, despite some affordability challenges. The median days on market stands at 140 days, indicating a slower sales velocity, which may point to elevated inventory levels relative to sales activity.

Additionally, the rental market is experiencing exceptionally high demand, with the median market rent reaching $3,316. This surge in rental prices is attributed to low turnover rates, further emphasizing the strength of the rental segment in the area. As we move forward, the market temperature is currently neutral, indicating a balanced environment where both buyers and sellers may find opportunities, albeit with some caution due to elevated interest rate pressure.

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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 5.63% compared to the 2026 origination average of 6.17%, indicating a potential cost advantage for refinancing.

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 $2,995,000 reflects a stable market condition, with no significant price fluctuations noted recently.

2. With 140 days on market, the sales velocity appears slower, suggesting elevated inventory levels relative to sales activity.

3. The median market rent has increased to $3,316, driven by strong demand and low turnover, indicating a robust rental market.

4. Market temperature is currently neutral, suggesting a balanced environment for both buyers and sellers.

5. Interest rate pressure remains elevated, which may impact buyer affordability moving forward.

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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.