NYC Home Prices Show 3.8 Percent Quarterly Growth Compared to Same Period Last Year

New York City median home prices hit 832000 dollars in the second quarter of 2026, a 3.8 percent rise from the same three months in 2025.

The increase matters now because mortgage rates have held near 6.5 percent since spring and inventory remains tight, pushing buyers toward outer boroughs where ADU zoning changes approved in 2025 have added legal accessory units in dozens of blocks.

Brooklyn neighborhoods such as Williamsburg along Bedford Avenue recorded average sale prices of 1.1 million dollars, up 5.2 percent year over year, while Astoria in Queens saw single-family homes trade at 925000 dollars, a 4.7 percent gain over the prior June quarter.

Brooklyn and Queens Drive the Gains

The New York City Department of City Planning expanded accessory dwelling unit rules last fall to cover more of Queens Community Board 1 and parts of Brooklyn Community Board 1, allowing owners to add rental units without full rezoning reviews.

High rental demand continues to support prices, with Manhattan co-op and condo sales averaging 1.32 million dollars, according to data compiled by the Real Estate Board of New York through June 30.

That figure sits 2.9 percent above the second-quarter 2025 level, though it trails the outer-borough pace.

Next Steps for Buyers and Sellers

Prospective buyers should review listings on streets near the 7 train in Long Island City, where new ADU permits have increased supply of smaller units priced under 700000 dollars.

Sellers listing before the end of September can expect stronger foot traffic than in the slower winter months, given current absorption rates above 80 percent in both boroughs.