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 January, 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 January
Total transactions statistics:
- Queens saw a solid 3% increase in the total transactions per borough for January. That is also the biggest increase by boroughs for the past month. In total, the borough secured a total of 36% of the share in January, making it the number one borough this past month as usual.
- In second place we have, like in December, Brooklyn. Brooklyn secured a total of 29% of the total transactions for January, 7% behind Queens. The borough also saw a 2% decrease in total share compared to December.
- 4% behind Brooklyn we have the borough of Manhattan, with a total of 25% of the total transactions in January. Manhattan also saw a decrease in the total share compared to December, by 3%.
- The Bronx was the only other borough, other than Queens, that saw an increase in their total transactions for January. The borough ended up with 10%, which is a 2% increase from the previous month.
Median closing price per borough for January:
- For the median closing price per borough, all four boroughs saw a decrease in the median closing price in January. At the top of our list, we have Manhattan, with a median closing price of $1,055,000. That is a 2% decrease in median closing price compared to December, which isn’t that big of a decrease.
- Then we have Brooklyn, who in January had a median closing price of $829,500, which is just a 1% decrease in closing price. In December, Brooklyn had a median closing price of $835,000, to compare.
- Coming in third is Queens, with a median closing price of $605,000. Just like Brooklyn, the borough saw a slight decrease in price by only 1%, from $610,000 to $605,000.
- Then we have the Bronx, who saw the biggest decrease in median closing price in January. The borough saw a big decrease by 6%, having a median closing price of $535,000 in December to $505,000 in January.
An overview of the total transactions made in January
The table below shows the total transactions in January 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. 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.
