The Monthly Sales Report: February 2020

Posted March 20th, 2020
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 February, 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 February

 

Total transactions statistics:

februarytransactions

  • The number one borough with the highest number of total transactions for the month of Febrary is, not surprisingly, Queens. The borough ended up with a total of 35% of the total transactions for the past month. That is a 1% decrease from the past month.
  • In second place we have Manhattan, who secured second by having just 1% more transactions than the borough of Brooklyn. Manhattan ended up with a total of 28% of the total transactions in February.
  • Coming in third is the borough of Brooklyn, who were right behind Manhattan with a total of 27% of the total transactions for the past month.
  • The borough of Bronx didn’t see any changes in the percentage of total transactions for the month of February versus January, having secure both 10% in both months.

 

Median closing price per borough for February:

closingpriceseptember

  • For the median closing price per borough, three boroughs saw a decrease in the median closing price in February. These boroughs were Brooklyn, Bronx, and Queens. At the top of our list, we have Manhattan, who was the only borough who saw an increase in the median closing price in Febrary. The median closing price was $1,190,000
  • Then there is Brooklyn, who saw a slight decrease in the median closing price in February compared to January. The closing price was listed at $772,500 in February.
  • Coming in third is Queens again, who for the month of February had a median closing price of $507,000. In January, the borough had a closing price of $605,000.
  • Last but not least, we have the borough of Bronx, who in February had a median closing price of $454,000. In January, the borough had a closing price of $505,000.

 

An overview of the total transactions made in February

 
The table below shows the total transactions in February 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 January and ranks the transactions by the most expensive. 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.