The Monthly Sales Report: February
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), 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 February
Total transactions statistics:
- For the month of February, Queens came in first with a total of 33% of the total sales transactions. While that ranks Queens first of the boroughs in terms of the total share of sales transactions for the month, it is actually a decrease from January. For the month of January, Queens had a total of 37% of the total sales transaction, meaning they are down 4% this month.
- For the month of January, Brooklyn came in second on this list. However, for the month of February the borough of Manhattan beats Brooklyn by 1%, with 29% of the total number of sales transactions for the month. That is an increase, however, as for the month of January Manhattan ended up with 25%.
- Right after Manhattan we have the borough of Brooklyn, who last month ended up with 29% of the total sales transactions for the month. However, for the month of February, the borough is seeing a slight decrease of 1%, as they ended up 28%.
- Last but not least, we have the Bronx who ended up with a slight increase of total transactions for the month of February, with 10%.
Median closing price per borough:
- Manhattan actually saw a big jump in the median closing price for this month, by 15%, having the median closing price go from $1,005,000 in January to $1,152,500 in February.
- Brooklyn dropped just a little in their median closing price for February, by 1%. The median closing price for the borough ended up being $775,000 for February while it was $780,000 in January.
- Queens actually saw no difference in the median closing price when comparing the month of January and February. Just like last month, Queens ended up with a median closing price of $560,000.
- The Bronx also ended up seeing a slight decrease in the median closing price, but only by 1%, going from $490,000 in January to $485,750 in February.
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 February 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.