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 December, showing the most expensive transactions (commercial transactions excluded) 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 December
Total transactions statistics:
- The borough of Queens noted a 3% decrease in the total sales transactions for the month of December, going from holding 36% of the sales transactions in November to holding 33% in December. However, Queens still remained in the top as the borough with the highest total of transactions.
- Brooklyn scored second place yet again, like last month. Compared to Queens, Brooklyn saw a 3% increase in total sales transactions in December compared to November. The borough ended up with a total of 31% of the total, only 2% behind Queens.
- Manhattan ends up in third place yet again this month. While Manhattan saw a slight increase in total transactions by 1%, the borough still didn’t manage to climb up to second place.
- The borough of Bronx had a slight decrease in the total sales transactions for December by 1%, placing the borough at fourth place with a total of 8%.
Median closing price per borough for December:
- Manhattan lands first place again, not surprisingly. However, the borough saw a big increase in their median closing price this past month, by 10%. In December, Manhattan tipped over $1M in median closing price. This might be due to the number of units sold at 220 Central Park South, Manhattan, NY, one of the more expensive luxury apartment buildings in New York.
- Second we have Brooklyn, who also saw a big increase in their median closing price in December, by 6%. Brooklyn went from having a median closing price of $784,052 in November to $835,000 in December.
- Coming in at third is the borough of Queens, with a median closing price of $610,000, $30,000 higher than in November. Queens had a 5% increase in their median closing price in December.
- Lastly we have the Bronx, who was the only borough in December with a decrease in their median closing price. The borough went from having a median closing price of $549,000 in November to $535,000 in December, which equals a 3% decrease.
An overview of the total transactions made in December
The table below shows the total transactions in December 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 December 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.
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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.
