PropertyShark’s latest report investigates where NYC buyers are coming from and how the city’s buyer mix has evolved over the past decade. NYC residents bought 77% of homes in 2024, down slightly from 81% in 2014, while the share of out-of-state buyers has increased, led by New Jersey, California, Florida and Connecticut residents. In contrast, the number of international buyers fell sharply, accounting for only one in 50 out-of-state buyers, a significant decline from 1 in 10 a decade ago.
Other key findings:
- Fewer New Jersey buyers came to NYC in 2024, making up just 19% of out-of-state buyers compared to 28% a decade ago.
- California residents gained ground to now represent 13.4% of out-of-state buyers, and increased their spending by $107M.
- More out-of-state buyers entered the city’s luxury market, picking up 17% of residences of $3M+ in the first half of the year.
- Floridians were the top out-of-state luxury buyers, but Massachusetts residents nearly tripled their luxury spending over the past decade.
can find more on where NYC buyers are coming from, including which states saw residents spend 10 times more on NYC real estate and how Long Island residents’ appetite for NYC real estate has changed over the past decade, in our full report here.
