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 September, 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 September
Total transactions statistics:
- Queens leads the pack in regards to total transactions for the month of September. The borough ended up with an impressive 35% of the total transactions made in September. That is a 1% increase in the market share when compared to the month of August.
- Coming in at second place is the borough of Brooklyn, again, unchanged from the previous months. Brooklyn ended up with 29% of the total transactions from the month of September. That is a mere 1% decrease from total transactions compared to the month of August for the borough.
- In third place, we have Manhattan who ended up with 27% of the total share of transactions for the past month. Following Brooklyn’s trend, we see that the borough of Manhattan also saw a 1% decrease in market share this past month.
- The borough of Bronx, also saw a 1% decrease in the number of total transactions from the previous month, just like Brooklyn and Manhattan. In the end, Bronx ended up with a total transaction share of 8% in September.
Median closing price per borough:
- Listed at the top again, with the highest median closing price for the month of September, we have the borough of Manhattan. While Manhattan ended up with a median closing price of $1,050,000 this month, that is a 8.66% decrease in closing price compared to the month of August.
- Brooklyn had the second highest median closing price again, however the borough didn’t really see that big of a difference in the median closing price when comparing the months of August and September. In August, the borough ended up with a median closing price of $805,000. For the month of September, the borough had a closing price of $802,000, just a slight decrease.
- For the month of September, the borough of Queens saw an increase in their median closing price by 6.51%. The borough went from having a median closing price of $585,000 in August to having a median closing price of $623,066 in September.
- The Bronx wsa also one of the boroughs that saw an increase in the median closing price in the past month. For the Bronx, the closing price went up 5.76% and the borough ended up with a median closing price of $486,500
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An overview of the total transactions made in September
The table below shows the total transactions in September 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 September 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.
