New York City is one of the most expensive cities in the U.S. to rent in so one can only imagine the price tags of the units actually for sale. Investing in real estate in New York City can be expensive, but nevertheless, an investment if NYC is the city where you see yourself living for the rest of your life. With more than 8.5 million people residing, across the five boroughs, there are plentiful of housing and investment opportunities for those looking to purchase real estate. This monthly report has its focus on the previous transactions made in August, showing the most expensive transactions (commercial transactions excluded), celebrity transactions, and some statistics to go along with it. The data for the report is provided by ACRIS.
Some information about ACRIS
With data publicly available by ACRIS (ACRIS being the Automated City Register Information System) the public can search property records and view documents for Manhattan, Queens, Bronx, and Brooklyn from 1966 to the present. While RealtyHop has incorporated a feature that allows users of the site to conduct their own searches for buy/sell events by individuals, organizations, or property addresses, a report showing the number of transactions made in the past month as well as some insight to what properties go for, in which borough, has been provided in the report.
A brief look at the month of August
Total transactions statistics:
- Again, Queens is the borough with the most transactions, holding 34% of the total transactions made in August. That is the same percentage as for the month of July.
- Second on the list is again Manhattan. For the month of July, the borough of Manhattan had around 30% of the total number of transactions for that month. This time around, Manhattan is hovering around 29% of the total number of transactions.
- Ranking shortly after Manhattan, with just 1% difference, is Brooklyn. Brooklyn secured around 28% of the total transactions for the month of August. That’s 1% up from the month of July.
- Coming in on last place, again, is the borough of Bronx. For the month of August, there wasn’t much change in the number of transactions made in the Bronx, keeping the percentage the same at 9%.
Median closing price per borough:
- Compared to the month of July, Manhattan has a slightly lower median closing price for August, with a median closing price of $1,140,000. That’s a 5% decrease in median closing price this time around.
- To no one’s surprise, Brooklyn ranks second as the borough with the highest median closing price. For the month of August, Brooklyn had a median closing price of $778,000. That’s a 6% decrease in median closing price compared to the month of July.
- On third place is Queens with a median closing price of $557,500, which is only a 2% decrease in median closing price from last time.
- Last but not least, there is the Bronx, which usually ranks last on the median closing price list. With a median closing price of $452,500, the Bronx saw a decrease of closing price of 2%, which is not a significant difference.
- All boroughs saw a decrease in the median closing price for the month of August compared to July. Manhattan had the highest change in median closing price, with a decrease of 6%.
An overview of the total transactions made in August
The table below shows the total transactions in August for the boroughs Manhattan, Brooklyn, Queens, and The Bronx. Obvious commercial transactions have been removed from the table (as well as any transactions that didn’t clearly show if it was a commercial transaction or not). The data in the table is provided by ACRIS for the month of August and ranks the transactions by the most expensive. We limited the transactions listed below to those of the cost of $100,000 and above. To search for transactions by borough, please refer to using the search field.
With data from ACRIS, RealtyHop is able to disclose the total number of transactions as well as the boroughs with the most transactions in the past month. We here at RealtyHop look for insight into the real estate market to provide buyers with as much information as possible so they can make an informed buying decision.