How Do I Determine the Market Value of My NYC Property?
Determining the true market value of your home in New York City requires more than just looking at comparable listings — it demands insight, nuance, and real-time data. “Pricing in NYC isn’t a formula, it’s an art backed by analytics,” says Randy Baruh of The Randy Baruh Team at Compass, one of Manhattan and Brooklyn’s most trusted brokers.
Randy and his team start every evaluation by studying recent closed sales, current active listings, and absorption rates in micro-markets like Tribeca, Brooklyn Heights, Chelsea, and the West Village. “No two blocks are the same,” he explains. “A loft on Leonard Street performs differently than a brownstone on Hicks Street, even at similar prices per square foot.”
Beyond comps, Randy analyzes buyer behavior: time on market, showing activity, and engagement data. “We interpret trends, not just track them,” he adds. “If buyers in your segment are prioritizing outdoor space or turnkey finishes, we adjust accordingly.”
The Compass valuation platform combines advanced pricing models with human expertise. “AI can spot patterns; we translate them into strategy,” says Baruh. The goal isn’t just to list — it’s to position your home at the exact point where maximum exposure meets maximum value.
Ultimately, Randy believes the right price creates momentum. “Overpricing stalls traffic and helps your competition. Smart pricing generates offers and leverage,” he explains. “In NYC’s luxury market, strategy sells.”