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 July, 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 July
Total transactions statistics:
- Queens again comes out at the top with the most transactions per borough. For the month of July, the borough secured approximately 34% of the total numbers of transactions for the past month. Queens had the same percentage of transactions as for the month of June.
- Manhattan is coming in at second place again with approximately 30% of the total transactions for the month of July, the same percentage as for the past month.
- After Manhattan comes the borough of Brooklyn with 27% of the total transactions for the past month.
- Last but not least we have the borough of Bronx with 9% of the transactions for July.
Median closing price per borough:
- Manhattan this time around had a higher median closing price than the past month. For the month of July, the borough of Manhattan ended up with a median closing price of $1,200,000, which is 21% higher than for the month of June.
- Brooklyn is again the borough with the second highest median closing price. This time around, the borough came in with a median closing price of $828,000. Brooklyn follows in Manhattan’s footsteps by having an increased median closing price this time around. Brooklyn ended up with a 7% increase in the median closing price.
- Queens’ median closing price for the month of July ended up being $570,000. Compared to the month of June, that is a decrease of 1% in closing price, from $575,000 to $570,000.
- Bronx also saw an increase in the median closing price this month, with a median closing price of $462,500. That’s a 7% increase in closing price compared to the month of June.
- All boroughs, except Queens, saw an increase in the median closing price for the month of July compared to June. Manhattan had the change in median closing price, with an increase of 21%.
An overview of the total transactions made in July
The table below shows the total transactions in July for the boroughs Manhattan, Queens, Brooklyn, 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 July 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.