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 June, 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 June
Total transactions statistics:
- For the month of June, Manhattan still remained at the top in terms of the total number of transactions for the past month. However, Manhattan also saw a big increase in sales transactions compared to May. In June, the borough of Manhattan saw a 6% increase in a total of transactions.
- Second on the list of total transactions for the month of June is the borough of Queens, who usually ends up taking second place. The borough ended up with 29% of the total transactions, however, that is a a 3% decrease in total transactions compared to May.
- Again, coming in third, is Brooklyn. For the month of June, the borough had 25% of the total transactions, which is a 3% decrease compared to the month of May.
- Last but not least is the Bronx, coming in at fourth place. The borough ended up with 8% of the transactions for June, which is a 1 percent decrease from last month.
Median closing price per borough:
- Again, the borough with the highest median closing price for the past month was the borough of Manhattan, with the median closing price being $1,278,950 this past month. That is a 2% decrease in price from May.
- Second, we have Brooklyn, with a median closing price of $833,500. For Brooklyn, that was a 3% increase in price compared to the month of May.
- Coming in at third place was Queens who, similar to Brooklyn, had an increase in the median closing price in June compared to May. For June, the median closing price clicked in at $560,244.
- In fourth place, we have the Bronx with a decrease in median closing price, from $461,000 in May to $455,000 in June.
An overview of the total transactions made in June
The table below shows the total transactions in June 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 June 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.
