Inventory in The Bronx has been relatively steady, with about 1,500 active listings in July and only a slight dip compared with last year. Homes sold edged down nearly 10 percent year over year, and pending sales were essentially flat. New listings, however, rose sharply from a year ago, up more than 15 percent, which is giving buyers more options.
With more homes available and slower sales, supply has grown to 7.4 months, up almost 58 percent from last year and firmly signaling a buyer’s market. Properties are taking longer to sell, with the median days on market jumping to 83 days and increasing significantly from a year ago, so sellers may need to plan for a longer listing period.
Pricing has been resilient despite the looser conditions. The typical home value in The Bronx is around $698,000, up about 7 percent year over year, and it climbed nearly 12 percent just since June. List prices have softened compared with last year, and a smaller share of homes is selling above asking, while the average sale-to-list ratio is just under 99 percent, indicating buyers have a bit more room to negotiate. In this shifting environment, both buyers looking to capitalize on increased supply and sellers aiming to price strategically can benefit from Agent Pronto’s help in finding a skilled local agent.
