The Monthly Sales Report: September
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 is again the borough with the most transactions, holding down 36% of the total amount of transactions for the month of September. That means Queens is up 2% prior to the month of August, where the borough had 34% of the total transactions.
- This time, second place is tied, between Manhattan and Brooklyn. There usually is a slightly higher percentage of transactions that go to Manhattan over Brooklyn when we look at the past transactions, but for September both Manhattan and Brooklyn ended up with 26% of the total number of transactions made. For both boroughs, that is a decrease (3% decrease for Manhattan, 2% decrease for Brooklyn).
- last but not last we have, the Bronx. For the month of September we saw a jump in the total number of transactions made, jumping from 9% for the month of August to 12% for the month of September!
Median closing price per borough:
- Not surprisingly, Manhattan again has the highest median closing price when looking back at the month of September. This time around the median closing price was $1,050,000. That is, however, a 8% decrease in closing price compared to the August.
- In second place we have Brooklyn, this time around with a median closing price of $768,000. That is only a slight decrease from the past month, with a 1% decrease in price.
- Coming in at third place we have the borough of Queens, with a median closing price of $585,000, making Queens the first borough with an increase so far. The borough ended up with a 5% increase!
- The Bronx also saw an increase in the median closing price this month, with a 3% increase! The median closing price for September was $465,000. While it’s not as big of an increase as Queens, it still an increase.
- Of the boroughs in the report, both Manhattan and Brooklyn saw a decrease in the median closing price in September compared to August, while Queens and Bronx saw an increase.
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.
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.