Out-of-staters are buying more NYC real estate than in years past: Report

According to new data from real estate website PropertyShark, the rate of non-New Yorkers purchasing property in the Big Apple is on the rise.

In a report released this month and titled “Buying NYC Then & Now: Tracking Out-of-State & Local Buyers in 2024 vs. 2014,” the company found, among other key findings, that NYC residents bought only 77% of homes sold in the first half of 2024 — down from 81% a decade ago.

In fact, today more than one in 10 homes in the boroughs are sold to buyers who hail from beyond the Empire State. Of the out-of-state buyers, nearly half are residents of three states: New Jersey, California or Florida.

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New Yorkers from upstate and Long Island also composed a significant portion of buyers. “Nearly 1 in 10 NYC homes were purchased by in-state buyers from outside NYC,” Property Shark noted.

At the same time as NYC residents’ portion of home purchases diminished, so did the number of buyers from New Jersey.

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North Carolinians, meanwhile, have increased the amount of borough real estate they’re buying elevenfold, and Nevadans tenfold. And Alaskans purchased the least property in NYC, with a wee 0.05% of out-of-state buyers hailing from the Last Frontier.

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Interestingly, the amount of foreign buyers was also notably teensy and even smaller than it was previously found to be. While one in 10 out-of-state sales in 2014 were to international entities, just one in 50 were found to be in 2024.

“Their spot has been taken over by investors [and] home buyers from other states,” PropertyShark senior writer and report author Eliza Theis told Gothamist .

As for the most active in-state buyers from beyond the boroughs, that award goes to Nassau County residents, with Westchester homeowners taking the silver and Suffolk county denizens the bronze.

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