The average price for residential real estate in Manhattan, New York increased for luxury, new developments, and condos. Conversely, prices for re-sale and co-op properties declined slightly. In the third quarter of 2024, the average square footage price for a re-sale property was ***** U.S. dollars per square foot.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in New York (MEDLISPRIPERSQUFEENY) from Jul 2016 to Jul 2025 about square feet, NY, listing, median, price, and USA.

In 2024, the average square footage price of condos and new development condos in Brooklyn, NY declined slightly. Prices of one-to-three family homes, on the other hand, increased from *** U.S. dollars per square foot in the third quarter of 2023 to *** U.S. dollars in the third quarter of 2024.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in New York-Newark-Jersey City, NY-NJ-PA (CBSA) (MEDLISPRIPERSQUFEE35620) from Jul 2016 to Jul 2025 about square feet, New York, NJ, PA, NY, listing, median, price, and USA.

Between 2020 and 2022, the average square footage price of one-to-three family homes in Queens, New York increased. Existing condo prices, on the other hand, fell from ***** U.S. dollars per square foot in the ********************* to *** U.S. dollars per square foot in the *********************.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in New York County, NY (MEDLISPRIPERSQUFEE36061) from Jul 2016 to Jul 2025 about New York County, NY; square feet; New York; NY; listing; median; price; and USA.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Orange County, NY (MEDLISPRIPERSQUFEE36071) from Jul 2016 to Jul 2025 about Orange County, NY; Poughkeepsie; square feet; NY; listing; median; price; and USA.

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting ****** U.S. dollars per square foot in 2024. In 2024, the average sales price of a new home exceeded ******* U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly ** percent year-on-year, and in 2022, the increase was even higher, at close to ** percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under ***** percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

The average asking rent for Class A office space in Midtown Manhattan was ***** U.S. dollars per square foot in the second quarter of 2025. It was above the Manhattan average of ***** U.S. dollars but below that of Midtown South, which was the most expensive district at ***** U.S. dollars per square foot. What is Class A real estate?Class A real estate refers to the best properties in terms of appearance, age, quality of infrastructure and location. These properties usually command the highest rental rates, due to their high quality. In the U.S., Manhattan has the most expensive rents for Class A offices.Midtown vs Midtown SouthMidtown Manhattan contains the Empire State Building, MoMA, Grand Central Station, and the United Nations Headquarters. The most expensive submarket there was Plaza District in 2025. Meanwhile, Midtown South is home to Madison Square Garden, Pennsylvania Station, Hudson Yards, and Koreatown. In 2025, the most expensive submarket there was Hudson Yards, followed by Chelsea and Hudson Square.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Nassau County, NY (MEDLISPRIPERSQUFEE36059) from Jul 2016 to Jul 2025 about Nassau County, NY; New York; square feet; NY; listing; median; price; and USA.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Erie County, NY (MEDLISPRIPERSQUFEE36029) from Jul 2016 to Jul 2025 about Erie County, NY; Buffalo; square feet; NY; listing; median; price; and USA.

After peaking in 2023, the average rent for industrial real estate for warehouse distribution use in New York City Metro declined. In the first quarter of 2024, the average rent was ***** U.S. dollars per square foot. Despite the decrease, this was notably higher than 2017, when it amounted to **** U.S. dollars. New York City Metro is one of the leading markets in the U.S. in terms of industrial and logistic state inventory.

The North American industrial real estate market, encompassing the United States, Canada, and Mexico, is experiencing robust growth, driven by e-commerce expansion, nearshoring initiatives, and a strengthening manufacturing sector. The market's Compound Annual Growth Rate (CAGR) exceeding 4.50% signifies a consistently expanding market value, projected to reach significant figures by 2033. Key sectors fueling this growth include Information Technology (IT and ITES), Manufacturing, and BFSI (Banking, Financial Services, and Insurance), with consulting and other sectors also contributing. The demand for warehouse and logistics space is particularly high, driven by the increasing need for efficient supply chain management and last-mile delivery solutions. Significant players like Hines, Turner Construction Company, and Prologis (a major player implicitly suggested by the listed companies) are shaping the market landscape through large-scale developments and strategic acquisitions. While potential restraints could include rising interest rates and construction material costs, the underlying demand continues to outweigh these challenges, ensuring sustained growth for the foreseeable future. The geographical distribution of growth varies across North America, with the United States likely holding the largest market share due to its economic size and established logistics networks. Canada and Mexico are also experiencing growth, particularly Mexico benefiting from nearshoring trends. Segmentation within the sectors reveals a dynamic market. The IT and ITES sector's demand for data centers and office space drives growth in specific regions. Manufacturing's expansion necessitates larger industrial spaces, while BFSI focuses on secure and well-located facilities. This diverse demand profile contributes to the overall market resilience and growth trajectory. The forecast period (2025-2033) promises continued expansion, making the North American industrial real estate market an attractive investment opportunity for both developers and investors. Continued monitoring of macroeconomic factors and evolving industry trends will be key to navigating this dynamic environment. Recent developments include: December 2021: Boston Properties Inc. (the largest publicly traded developer, owner, and manager of Class A office properties) announced that it completed the acquisition of 360 Park Avenue South, a 450,000 square-foot, 20-story office property located in the Midtown South submarket of Manhattan, New York, from Enterprise Asset Management Inc. (an investment management firm). Furthermore, the gross purchase value accounted for approximately USD 300 million., December 2021: Boston Properties Inc. announced a joint venture in which the company has a 49% ownership and executed a 229,000 square foot lease with a leading biotech company at the venture's 751 Gateway project in South San Francisco, California. The lease covers the entire building, which is currently under construction, with initial occupancy expected in early 2024.. Notable trends are: Increasing Rental Prices of Office Spaces.

Mechanical, plumbing, fire protection was the most expensive cost category in a complete office fit-out in New York City in 2023. The square foot cost of an office fit-out was approximately *** U.S. dollars, with the mechanical, plumbing, and fire protection works comprising about one-fifth of the total cost. In the U.S., New York City was the market with the third-highest fit out cost for offices, after San Jose and San Francisco.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Westchester County, NY (MEDLISPRIPERSQUFEE36119) from Jul 2016 to Jul 2025 about Westchester County, NY; square feet; New York; NY; listing; median; price; and USA.

The US commercial real estate (CRE) market, valued at $1.66 trillion in 2025, is projected to experience steady growth, driven by robust economic activity and increasing demand across various sectors. A compound annual growth rate (CAGR) of 2.61% from 2025 to 2033 indicates a positive outlook, although this growth is expected to be moderated by factors like rising interest rates and potential economic slowdowns. Strong performance is anticipated in key sectors such as office, retail, and industrial spaces, particularly in major metropolitan areas like New York, Los Angeles, and Chicago. The multi-family sector, fueled by population growth and urbanization, is also poised for significant expansion. However, challenges remain, including supply chain disruptions impacting construction costs and the evolving nature of work impacting office demand. The logistics sector continues to be a significant driver of growth, fueled by e-commerce expansion and the need for efficient supply chains. Competition among established players like CBRE, Cushman & Wakefield, JLL, and numerous regional firms will likely remain fierce, necessitating strategic acquisitions, technological advancements, and innovative service offerings to secure market share. The regional distribution of the US CRE market reflects the concentration of economic activity and population density. The Northeast and West Coast regions are expected to continue to dominate, with New York, Los Angeles, and San Francisco being key contributors to overall market value. However, growth is also anticipated in secondary markets such as Denver, Austin, and Nashville, driven by factors like lower operating costs and population migration. The ongoing shift towards sustainable and technologically advanced buildings will likely influence investment decisions, as investors prioritize energy efficiency and environmental responsibility. The forecast period (2025-2033) will likely witness increased adoption of PropTech solutions aimed at improving efficiency and transparency within the industry, furthering shaping the competitive landscape and overall market dynamics. Recent developments include: In March 2022, Progressive Real Estate Partners, the leading retail real estate brokerage firm in the Inland Empire, announced the USD 8 million-worth sale of The Grove. This property is a Circle K anchored neighborhood center located in Orange St. in Redlands, CA. The 39,339-square-foot property is situated at the signalized intersection of Orange Street and San Bernardino Avenue, just minutes from the I-10 and I-210 freeways and the University of Redlands., In February 2022, Shannon Waltchack (SW) acquired a 23,150 sq. ft shopping center Gateway Plaza in Bloomingdale, IL - the sixth acquisition in SW's latest fund. The center is 100% occupied by a mix of medical, service, and food tenants, including Aspen Dental, LensCrafters, and McAlister's Deli.. Notable trends are: Industrial Sector Expected to Record High Demand.

The average Class B asking rent for office real estate in Manhattan in the fourth quarter of 2023 was ***** U.S. dollars per square foot. The district that reported the highest average Class B rent was Midtown South, where a square foot of space cost ***** U.S. dollars. Between the fourth quarter of 2022 and the fourth quarter of 2023, rents in Midtown South increased, while in Midtown and Downtown, they declined.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Rockland County, NY (MEDLISPRIPERSQUFEEYY36087) from Jul 2017 to Jul 2025 about Rockland County, NY; square feet; New York; NY; listing; median; price; and USA.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Ithaca, NY (CBSA) (MEDLISPRIPERSQUFEE27060) from Jul 2016 to Jul 2025 about Ithaca, square feet, NY, listing, median, price, and USA.

The United States home construction market, valued at approximately $700 billion in 2025, is experiencing robust growth, projected to maintain a compound annual growth rate (CAGR) exceeding 3% through 2033. This expansion is fueled by several key factors. Firstly, a persistent housing shortage, particularly in desirable urban areas like New York City, Los Angeles, and San Francisco, continues to drive demand. Secondly, favorable demographic trends, including millennial household formation and an increasing preference for homeownership, are bolstering the sector. Furthermore, low interest rates (though this is subject to change depending on economic conditions) have historically made mortgages more accessible, stimulating construction activity. However, the market isn't without its challenges. Rising material costs, labor shortages, and supply chain disruptions continue to exert upward pressure on construction prices, potentially impacting affordability and slowing growth in certain segments. The market is segmented by dwelling type (apartments & condominiums, villas, other), construction type (new construction, renovation), and geographic location, with significant activity concentrated in major metropolitan areas. The dominance of large national builders like D.R. Horton, Lennar Corp, and PulteGroup highlights the industry's consolidation trend, while the growth of multi-family construction reflects shifting urban preferences. Looking ahead, the market's trajectory will depend on macroeconomic factors, interest rate fluctuations, government policies impacting housing affordability, and the ability of the industry to address supply-chain and labor challenges. Innovation in construction technologies, sustainable building practices, and prefabricated homes are also emerging trends expected to significantly influence market dynamics over the forecast period. The competitive landscape is characterized by a mix of large publicly traded companies and smaller regional builders. While established players dominate the market share, opportunities exist for smaller firms specializing in niche markets, such as sustainable or luxury home construction, or those focused on specific geographic areas. The ongoing expansion of the market signifies significant potential for investment and growth, despite the hurdles currently impacting the sector. Addressing supply chain disruptions and labor shortages will be crucial for sustained growth. Continued demand in key urban centers and evolving consumer preferences toward specific dwelling types will be critical factors determining the market's future trajectory. Recent developments include: June 2022 - Pulte Homes - a national brand of PulteGroup, Inc. - announced the opening of its newest Boston-area community, Woodland Hill. Offering 46 new construction single-family homes in the charming town of Grafton, the community is conveniently located near schools, dining, and entertainment, with the Massachusetts Bay Transportation Authority commuter rail less than a mile away. The collection of home designs at Woodland Hill includes three two-story floor plans, ranging in size from 3,013 to 4,019 sq. ft. with four to six bedrooms, 2.5-3.5 baths, and 2-3 car garages. These spacious home designs feature flexible living spaces, plenty of natural light, gas fireplaces, and the signature Pulte Planning Center®, a unique multi-use workstation perfect for homework or a family office., December 2022 - D.R. Horton, Inc. announced the acquisition of Riggins Custom Homes, one of the largest builders in Northwest Arkansas. The homebuilding assets of Riggins Custom Homes and related entities (Riggins) acquired include approximately 3,000 lots, 170 homes in inventory, and 173 homes in the sales order backlog. For the trailing twelve months ended November 30, 2022, Riggins closed 153 homes (USD 48 million in revenue) with an average home size of approximately 1,925 square feet and an average sales price of USD 313,600. D.R. Horton expects to pay approximately USD 107 million in cash for the purchase, and the Company plans to combine the Riggins operations with the current D.R. Horton platform in Northwest Arkansas.. Notable trends are: High-interest Rates are Negatively Impacting the Market.