New findings show the housing market is rapidly diminishing in both size and availability.
typical starter home in Manhattan is roughly equivalent to 4 1/2 New York City parking spots, according to data from a new report by StreetEasy.
In Manhattan, starter houses are the smallest of all the boroughs at 686 square feet. However there are more options for buyers within the $400,000 to $800,000 price range as inventory is up 3% in Aug. 2022 compared to Aug. 2019, before the pandemic. At $942 per square foot, Manhattan is the most expensive in the city.
In Queens, starter-home buyers are getting the most for their money at $595 per square foot, but the inventory is down 11% making it hard for families to find anything. If they do find something, it is going to be smaller than what they could have gotten in 2019, as the Queens median has dropped by 156 square feet over three years.
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