Fewer buyers are coming from New Jersey and more are coming from California, according to a study that tracked sales during the first half of the year.
Buying a home in New York City is expensive, but out-of-state buyers are still moving to the city, just in smaller numbers than they were 10 years ago.
A recent study by PropertyShark compared where the city’s buyers came from in the first halves of 2014 and 2024, analyzing sales of single-family and two-family homes, condos and co-ops with a sale price of at least $100,000. All 50 states and Washington, D.C. were included, as were foreign countries, which were lumped together as a group. The data was extracted from public records, and the origins of buyers who purchased through an L.L.C. were manually confirmed.
New Jersey residents remain the most active out-of-state buyers in New York City, but their numbers have sagged. In the first half of 2024, Garden State residents closed on 345 homes, down from 487 during the first half of 2014. Connecticut also produced fewer sales in the city this year (118) than it did a decade ago (129). And the number of international sales declined drastically, from 178 in 2014 to just 41 in 2024.
Meanwhile, Californians have overtaken Floridians to become the second most active out-of-state buyers, purchasing 244 homes in 2024, up from 175 in 2014. Florida accounted for 219 sales, up from 189. And Texans bought 92 N.Y.C. homes this year, up from 86 a decade ago. Also, there was one Alaskan (down from two).
But of course, it was in-state buyers who accounted for the majority of home purchases in the first half this year, closing on 11,579 homes — down from 15,781 in 2014. Inside the city, Queens residents bought the most homes in 2024 — 3,247, a decrease from 4,329 in 2014. Brooklyn, Manhattan and Staten Island buyers were also less active than they were 10 years ago. Only the Bronx saw more activity than it did in 2014 — 653 deals in the first half of 2024, up from 545 in 2014.
Outside the city, buyers from Nassau County topped the list, followed by Westchester and Suffolk counties.
Where Are N.Y.C. Buyers From?
The 20 places from which the most New York City home buyers originated in the first half of 2024, and how that compared to a decade earlier.
2014
BUYERS
2024
BUYERS
ORIGIN
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
New York
New Jersey
California
Florida
Connecticut
Texas
Pennsylvania
Massachusetts
International
North Carolina
Maryland
Virginia
Ohio
Illinois
Utah
Minnesota
Washington
Colorado
Washington, D.C.
Tennessee
15,781
487
175
189
129
86
76
62
178
10
33
34
22
25
17
15
14
22
20
11
11,579
345
244
219
118
92
84
82
41
40
40
33
31
29
29
29
24
24
22
21
2014
BUYERS
2024
BUYERS
2014
BUYERS
2024
BUYERS
ORIGIN
ORIGIN
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
New York
New Jersey
California
Florida
Connecticut
Texas
Pennsylvania
Massachusetts
International
North Carolina
15,781
487
175
189
129
86
76
62
178
10
11,579
345
244
219
118
92
84
82
41
40
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
Maryland
Virginia
Ohio
Illinois
Utah
Minnesota
Washington
Colorado
Washington, D.C.
Tennessee
33
34
22
25
17
15
14
22
20
11
40
33
31
29
29
29
24
24
22
21
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