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Last month, the median sale price of a home in West Village was $1.6 million, reflecting a 3.9% decline year over year. Meanwhile, the median price per square foot dropped to $1,760, marking a significant 37.7% decrease compared to the previous year.
Median Sale Price
Median Sale Price per Sq. Ft.
Total Homes Sold
Median Days on Market
In December 2024, the median home price in West Village declined by 3.9% year over year, settling at $1.6 million. Despite this price dip, homes in the area are selling significantly faster, averaging just 56 days on the market compared to 120 days last year. Additionally, transaction volume has increased, with 75 homes sold in December 2024, up from 68 in the previous year. This trend suggests that while prices have softened slightly, buyer demand has remained strong, leading to quicker sales and a higher number of closed transactions. The shorter time on market could indicate motivated buyers taking advantage of adjusted prices or a shift in market conditions favoring well-priced listings.
In December 2024, homes in West Village sold for an average of 1.43% below the asking price, indicating a relatively balanced market where buyers have some room for negotiation, but sellers are still achieving prices close to their expectations. On average, homes spent 56 days on the market, reflecting a slight decrease in time on market compared to last year, but an increase from the previous month. This trend suggests that while properties are moving faster year-over-year, seasonal or market shifts may have caused a temporary slowdown in recent months. Buyers still have opportunities for negotiation, but well-priced properties are selling at a steady pace.
As of December 2024, West Village remains a buyer’s market, meaning there are more homes available than there are buyers actively looking to purchase. This surplus of inventory gives buyers greater negotiating power, leading to price adjustments and homes selling slightly below asking price. While demand has increased compared to last year—evidenced by more transactions and faster sales—supply still outweighs demand, creating opportunities for buyers to secure favorable deals. If this trend continues, sellers may need to adjust pricing strategies or offer incentives to attract buyers in the competitive market.
Thinking about buying a home in West Village? Carol is here to help! Whether you have questions about market trends, available properties, or the buying process, she’s ready to provide expert guidance. Don’t miss out on the best opportunities in this vibrant neighborhood—reach out today to start your journey toward finding the perfect home or investment!
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Neighborhood Guide
From charming tree-lined streets to historic brownstones and vibrant local spots, West Village offers a unique blend of charm and sophistication. Whether you're considering a move or just exploring what makes this neighborhood special, our in-depth guide has everything you need. Start browsing now to discover the best of West Village!
Learn more about what makes West Village special with our latest updates about the area.
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