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:
- Taking first place with 36% of the total sales transactions for November is, never surprisingly, Queens. The percentage of total sales transactions saw no change from the previous month, where it also was at 36%.
- Coming in second is, again, Brooklyn! Last month, Brooklyn also managed to come in at second for the total of sales transactions made. This time around, Brooklyn also manages to beat Manhattan for a higher ranking. For the month of November, Brooklyn ended up with 29% of the total sales transactions made, the same percentage as last month.
- In third place, we have Manhattan with 25% of the total sales transactions made, still a strong market share.
- And finally, there is the Bronx, which this time around ended up with 9% of the total transactions for November.
Median closing price per borough:
- Do to its many high priced transactions, as usual, Manhattan is the borough with the highest median closing price. From October to November, we see that the median closing price has gone up a smidge, from $1,030,000 to $1,082,500.
- Brooklyn also saw a slight increase in the median closing price for the month of November compared to the month of October. This time around Brooklyn ended up with a median closing price of $810,000. For October, the borough had a median closing price of $781,985.
- While technically, it is a decrease in the closing price, it isn’t by that much. Queens only experienced a very slight decrease in its median closing price in November, with the price being $569,000 compared to last months closing price of $570,000.
- Last but not least, there is the Bronx, which actually ended up with the exact same closing price as the month of October, $485,000.
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 November 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.
