The Best Time to Buy a House in New York

Clever Real Estate


Clever Real Estate

June 16th, 2022
Updated June 16th, 2022


New York offers home buyers numerous options to call home. To get the best deal in New York, you should keep an eye on the market and enlist the help of a knowledgeable real estate expert. Before rushing to make offers, you should understand how timing can save you big bucks on a purchase.

best time to buy new york

Buying a house is a stressful and emotional process. You'll likely have to spend weeks touring properties, fill out hundreds of forms, and invest a large chunk of your savings to secure the right house.

One way to make buying a house easier is starting the process at the right time. In New York, housing inventory, mortgage rates, and market trends vary from month to month.

For example, this year listing prices for homes in New York were lowest in June. On average, homes were $62,564 less expensive. While in October — the month with the highest prices — the listing prices were $99,832 more than the annual average.

In truth, the best time to buy a house really depends on your priorities and situation. Read on to find out which time of year will give you the most options and the biggest savings when buying a house in New York.

Best Month For

Listing price
5.5% lower than average
Housing inventory
11.0% more homes to choose from
Mortgage rates
2.96% interest for 30-year mortgage data (10/1/2020)
Bankrate data (12/1/2020)

If you're interested in buying a home, the first step in the home buying journey is to find an experienced realtor who's an expert in your local market. The right agent can help you find the best house for your budget and priorities - and negotiate a winning offer so you don't miss out on your dream home.

The easiest way to find a great local realtor is to use a free service like Clever Real Estate. Clever matches home buyers like you with top agents in your area so you can compare your options and choose a realtor who's the right fit for you.

You can interview multiple agents until you find the perfect fit, or walk away at any time - Clever's service is 100% free with no obligation. Fill out the form below to instantly request hand-picked agent matches now!

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Best Time of Year to Buy in New York

The housing market in New York showed optimistic improvements to kick off in 2019. Recent data from the New York States Association of Realtors, Inc. shows, new listings in January rose 8.2 percent over last year while pending sales increased 3.9 percent. The uptick in the Big Apple’s market is good news for house hunters as extensive options are available. Unfortunately, for buyers, the influx of properties can create a challenge when scoring the best deal.

Understanding the seasonality of your local market provides a great advantage for buyers. In New York, the spring season sees a boom in listings and hopeful house hunters who are in a hurry to make a deal. Between the months of March and May, data shows nearly 20% of homes are sold above list.

In northeastern territories, price reductions become prominent before brutal winter conditions enter. While it may not be ideal to move during frigid temperatures, the best time to get a great deal in New York begins in September where 12.5% of active listings receive a price reduction and sellers are more flexible and hurried when negotiating deals.

The Best Places to Buy a Home in New York

With a state as vast as New York, narrowing down an area to buy a home in can be overwhelming. Check out five of the highest-rated cities, according to data from the U.S. Census, CDC, and other sources.


If you’re searching for a family-friendly area, this quaint town is located less than 40 miles from the heart of New York City. It offers a variety of structures varying from condominiums to townhomes, highly ranked school systems, and a tight-knit community.


Ranked #52 on the U.S. News & World Report’s Best Places to Live in the US, Buffalo is known for its developing waterfront and excellent medical programs. With a median home price of $132,333, the location offers manageable traffic, professional sports teams, and access to an international airport.

Country Knolls

A part of Saratoga County, the economy of Country Knolls thrives on high-paying careers in the Professional, Scientific, and Tech Services fields. Residents are nearby several four-year universities and a prominent Nursing Program and earn a median household income of $107,024.

Cayuga Heights

This upstate village is just north of Ithaca and the prestigious Cornell University. Its close proximity to the school encourages economic growth, meaning it should continue to be a safe area to invest in real estate property. Cayuga Heights is also home to above-average highs schools and has an outstanding reputation for safety.

Bay Ridge

For those with bigger budgets, Bay Ridge, Brooklyn, offers incredible amenities and favorable living conditions. In addition to top-rated schools, low crime rates, and a family-friendly environment, the area also features a quality public-transportation system to navigate the area. The average home lists for north of $670,000.

4 Ways to Get a Great Deal on a Home in New York

Find a Great New York Real Estate Agent

For most buyers, a home purchase will be the largest investment they ever make. Why would you decide to travel the path without a guiding hand from a qualified agent? Their knowledge of the local market can navigate you through the process before landing the ultimate deal.

A professional, local real estate agent is familiar with what similar homes in the area are selling for and can help create an offer a seller can’t refuse.

If expensive commission costs are holding you back from hiring an expert, consider partnering with a pro from our Partner Agent Network to help close on your dream home without expensive fees.

Assess Your Needs and Lay Out Your Goals

When viewing homes, it’s easy to be swept away by amazing amenities, sprawling acres, and additional space. However, when house hunting, it’s crucial to stick to your budget and needs. Meet with an expert and discuss exactly what you require from a property.

It’s also important to have a conversation about what you can reasonably afford. Your monthly obligations can be reduced with a sufficient down payment or manageable property taxes and insurance. These details should be nailed down before the house hunt begins.

Find a Lender and Secure Financing

Unless you plan to buy your home with cash, you'll need to apply for a mortgage. For most home buyers in New York, interest rates are among the biggest factors when choosing a lender. Doing a little upfront research and comparing options to find the best rates could save you tens of thousands of dollars over the life of your loan.

For example, in New York a typical house is worth $350,000. Assuming a 20% down payment, if you took out a 30-year mortgage for 3.5%, your monthly payment would be $1,249. But if you shopped around and found a 3% mortgage, your monthly payment would drop to about $1,180.

Getting a mortgage is a big decision – and it pays to shop around! Keep shopping until you find a lender with competitive rates who also understands your goals. Don’t get pressured into taking on a bigger loan than you’re comfortable with – work with a lender who explains what you’re really signing up for.

» Get instantly matched with a lender who works in your area.

Negotiate for the Best Possible Price

The importance of seasonality timing in the New York market will really shine when the negotiation process begins. An efficient agent will determine a strategy by determining the answers to these questions:

  • When was the listing originally placed on the market;
  • What kind of offers have already been made;
  • What are similar homes being sold for; and
  • How much interest has been shown in the property?

Access to insider information gives buyer’s a huge advantage when scoring a great deal on a home.

If you’re prepared to enter the house hunting journey, fill out this online form to connect with a Clever Partner Agent for a no-obligation consultation. Your dream home is waiting.

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