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 November, 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 November
Total transactions statistics:
- Again, we see that Queens is the borough with the most total transactions per borough for the month of November, but not by much. Last month, Queens had a total of 35% of the total transactions for the month. This time around, Queens increased that stat by only 0.5% but that was enough to keep the borough in the top.
- Brooklyn took second place this time around, beating Manhattan. The borough ended up with 28% of the total transactions for November, that is a 1 percent increase from the previous month.
- Manhattan comes in at third place, with a total of 26.5% of the total transactions for the month of November. The percentage of total transactions Manhattan ended up having only dipped by a small percent.
- Last but not least, we have the Bronx. The borough ended up with a total of 10% of the total transactions for November. That is a 1% increase in total transactions compared to the numbers the borough had in October.
Median closing price per borough:
- At the top, we again have Manhattan as the borough with the highest median closing price for the month of November. It is hard for the other boroughs to beat Manhattan in terms of the highest median closing price as the borough has some of the most expensive units up for sales every month and the borough has several luxury high rise apartment buildings. However, Manhattan did see a decrease in their median closing price this month, but only by 1%.
- Again, we have the borough of Brooklyn in second place. Brooklyn went from having a median closing price of $780,000 in October to a median closing price of $784,052 in November, just a 1% increase.
- Queens saw the biggest decrease in median closing price in November, with a 4% decrease. The borough went from a median closing price of $606,393 in October to a median closing price of $580,000 in November.
- Bronx ended up with a 9% increase in their median closing price in November compared to October. The borough went from a median closing price of $503,200 in October to a median closing price of $549,000 in November.
An overview of the total transactions made in November
The table below shows the total transactions in November 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 October 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.
