The Monthly Sales Report: October 2019
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 October, 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 October
Total transactions statistics:
- Queens, again, lead the pack in regards to total transactions for the month of October like they did for the month of September. The percentage share of total transactions didn’t change either for the borough, still clocking in 35% of the total transactions this month like last month.
- This month, we see that Manahttan came in on second place, in terms of the total amount of transactions by each borough, outpacing Brooklyn by 2 percent. Manhattan had an impressive 29% of the total amount of transactions in October, which is a 2 percent increase from last month.
- Right after Manhattan we have the borough of Brooklyn. Brooklyn was the only borough that saw a decrease in total share of transactions this month, by 2 percent, clocking in at 27% of the total transactions for October.
- The Bronx saw a slight increase for the month of October, with a total transaction share of 9%, up 1 percent from last month.
Median closing price per borough:
- Manhattan, of course, had the highest median closing price for the month of October but the borough did see a significant drop in the median closing price this month by 7%. While Manhattan clocked in a median closing price of $1,050,000 in September, the borough ended up with a median closing price of $980,000 in October.
- Brooklyn ended up second again this month, however with a slight decrease in the median closing price. This month, the borough saw a 3% decrease in the closing price, which resulted in a median closing price of $780,000.
- Queens saw the same percentage of decrease in median closing price as the borough of Brooklyn for the month of October, by 3%. Queens went from a median closing price of $623,066 in September to $606,393 in October.
- Bronx was the only borough that saw a increase in the median closing price this month, by 3%. While the borough saw a median closing price of $486,500 in September, Bronx now tipped the half million mark with a median closing price of $503,200 in October.
An overview of the total transactions made in October
The table below shows the total transactions in October 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.
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.