{"id":9018,"date":"2022-11-03T16:39:58","date_gmt":"2022-11-03T20:39:58","guid":{"rendered":"https:\/\/www.realtyhop.com\/blog\/?p=9018"},"modified":"2022-11-03T16:39:58","modified_gmt":"2022-11-03T20:39:58","slug":"realtyhop-price-drops-report-november-2022","status":"publish","type":"post","link":"https:\/\/www.realtyhop.com\/blog\/realtyhop-price-drops-report-november-2022\/","title":{"rendered":"RealtyHop Price Drops Report: November 2022"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/11\/nyc_price_drops_featured_image_november_2022.png\" \/><\/p>\n<div style=\"max-width: 900px; width: 100%; height: auto; margin-left: auto; margin-right: auto;\"><\/div>\n<p>The real estate market has its ups and downs. In this November installment of the NYC price drops report, RealtyHop analyzed available data for October 2022 across boroughs and neighborhoods in New York City to provide a useful resource for those looking to invest in real estate.<\/p>\n<p>We focused on neighborhoods with the greatest total number of price drops, specifically the highest price drops by median percentage, median dollar value, and street address.<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<h2><strong>A Closer Look at NYC&#8217;s Neighborhoods<\/strong><\/h2>\n<p>Our interactive map below depicts the neighborhoods we analyzed. All numbers are based on RealtyHop&#8217;s proprietary dataset.<\/p>\n<p><button onclick = \"embedPopup()\" button = \"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/11\/nyc_price_drops_map_november_2022.html\" class=\"button button1\" style=\"display: block; margin-left: auto; margin-right: 0px;\">Get the code to embed this map!<\/button><\/p>\n<div style=\"position: relative; overflow: hidden; width: 100%; max-width: 1000px; height: 680px; margin-left: auto; margin-right: auto; margin-bottom: 15px; border: 1px transparent #fffff; border-radius: 15px;\">\n<div style=\"padding-bottom: 68%; height: 0px; position: relative; width: 100%;\">\n<div style=\"position: absolute; height: 100%; width: 100%;\" align=\"center\"><iframe loading=\"lazy\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/11\/nyc_price_drops_map_november_2022.html\" width=\"100%\" height=\"100%\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><br \/>\n<\/iframe><\/div>\n<\/div>\n<\/div>\n<p><script>function embedPopup() {alert('<iframe loading=\"lazy\" src=\"CURRENT_MAP_URL\" width=\"100%\" height=\"600px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><\/iframe>');}<\/script><\/p>\n<h2><strong>Top 5 Neighborhoods With the Highest Number of Price Drops<\/strong><\/h2>\n<div style=\"width: 100%; max-width: 1068px; margin: 25px auto 25px auto; text-align: center;\">\n<table style=\"text-align: center; border-spacing: 0px; width: 100%;\">\n<tbody>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: normal; width: 5%; border: none; background-color: #51527c; border-left: 1px solid #51527c;\"><\/td>\n<td style=\"font-weight: bold; width: 45%; border: none; background-color: #51527c; color: #ffffff;\">Neighborhood<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff;\">Borough<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff; border-right: 1px solid #51527c;\">Number of Price Drops<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">1<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Upper East Side-Carnegie Hill&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Upper East Side-Carnegie Hill<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">191<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">2<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;East Midtown-Turtle Bay&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">East Midtown-Turtle Bay<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">155<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">3<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Upper West Side-Lincoln Square&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Upper West Side-Lincoln Square<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">138<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">4<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Upper West Side (Central)&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Upper West Side (Central)<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">136<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-bottom: 1px solid #51527c; border-left: 1px solid #51527c;\">5<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%; border-bottom: 1px solid #51527c;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Upper East Side-Lenox Hill-Roosevelt Island&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Upper East Side-Lenox Hill-Roosevelt Island<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c; border-right: 1px solid #51527c;\">127<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>For the second month in a row, the neighborhoods with the highest amount of price drops all reside in <a href=\"https:\/\/www.realtyhop.com\/for-sale\/manhattan-new-york-ny?center=11,40.79340,-73.96257\">Manhattan.<\/a>\u00a0<a href=\"https:\/\/www.realtyhop.com\/for-sale\/upper-east-side-new-york-ny?areas=carnegie-hill-new-york-ny\">Upper East Side-Carnegie Hill<\/a> still had the highest number of price drops this month but dipped slightly from 201 price drops in October to 191 in November. Even the last neighborhood on the chart, <a href=\"https:\/\/www.realtyhop.com\/for-sale\/upper-east-side-new-york-ny?areas=roosevelt-island-new-york-ny,lenox-hill-new-york-ny\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Upper East Side-Lenox Hill-Roosevelt Island&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Upper East Side-Lenox Hill-Roosevelt Island<\/span><\/a>, had a large number of price drops this month, with 127.<\/p>\n<h2><strong>Top 5 Neighborhoods With the Highest Median Percentage Price Drops<\/strong><\/h2>\n<div style=\"width: 100%; max-width: 1068px; margin: 25px auto 25px auto; text-align: center;\">\n<table style=\"text-align: center; border-spacing: 0px; width: 100%;\">\n<tbody>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: normal; width: 5%; border: none; background-color: #51527c; border-left: 1px solid #51527c;\"><\/td>\n<td style=\"font-weight: bold; width: 45%; border: none; background-color: #51527c; color: #ffffff;\">Neighborhood<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff;\">Borough<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff; border-right: 1px solid #51527c;\">Median % Price Drops<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">1<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Bedford Park&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Bedford Park<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Bronx<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-10.0% (-<span data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-145000}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:4,&quot;2&quot;:&quot;\\&quot;$\\&quot;#,##0&quot;,&quot;3&quot;:1},&quot;12&quot;:0}\">$124,750<\/span>)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">2<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Prospect Lefferts Gardens-Wingate&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Prospect Lefferts Gardens-Wingate<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Brooklyn<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-6.3% (-<span data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-145000}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:4,&quot;2&quot;:&quot;\\&quot;$\\&quot;#,##0&quot;,&quot;3&quot;:1},&quot;12&quot;:0}\">$87,000<\/span>)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">3<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Astoria (North)-Ditmars-Steinway&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Astoria (North)-Ditmars-Steinway<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Queens<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-5.9% (<span data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-22500}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:4,&quot;2&quot;:&quot;\\&quot;$\\&quot;#,##0&quot;,&quot;3&quot;:1},&quot;12&quot;:0}\">-$50,000<\/span>)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">4<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Jamaica&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Jamaica<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Queens<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">\u00a0-5.9% (<span data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-73000}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:4,&quot;2&quot;:&quot;\\&quot;$\\&quot;#,##0&quot;,&quot;3&quot;:1},&quot;12&quot;:0}\">-$30,000<\/span>)<\/td>\n<\/tr>\n<tr style=\"height: 40px15; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-bottom: 1px solid #51527c; border-left: 1px solid #51527c;\">5<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%; border-bottom: 1px solid #51527c;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Bedford-Stuyvesant (East)&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Bedford-Stuyvesant (East)<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c;\">Brooklyn<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c; border-right: 1px solid #51527c;\">-5.9% (<span data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-20500}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:4,&quot;2&quot;:&quot;\\&quot;$\\&quot;#,##0&quot;,&quot;3&quot;:1},&quot;12&quot;:0}\">-$125,000<\/span>)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>The top five neighborhoods with the highest median percentage price drop spanned three neighborhoods: <a href=\"https:\/\/www.realtyhop.com\/for-sale\/bronx-new-york-ny\">Bronx<\/a>, <a href=\"https:\/\/www.realtyhop.com\/for-sale\/brooklyn-new-york-ny?center=11,40.65182,-73.94420\">Brooklyn<\/a>, <a href=\"https:\/\/www.realtyhop.com\/for-sale\/queens-new-york-ny?center=10,40.69667,-73.78587\">Queens<\/a>. <a href=\"https:\/\/www.realtyhop.com\/for-sale\/bedford-park-new-york-ny?center=15,40.87167,-73.88571\">Bedford Park<\/a>, Bronx, saw the biggest median percentage price drop in October of 2022, where properties dropped a median of 10.0%, equating to a $124,750 difference from the initial list price. This percentage is 2.5% larger than the neighborhood with the highest percentage of price drops in last month&#8217;s report, <a href=\"https:\/\/www.realtyhop.com\/for-sale\/cypress-hills-new-york-ny\">Cypress Hills<\/a>. All five neighborhoods had a median price change of at least 5.9%.<\/p>\n<h2><strong>Top 5 Neighborhoods With the Highest Median Dollar Price Drops<\/strong><\/h2>\n<div style=\"width: 100%; max-width: 1068px; margin: 25px auto 25px auto; text-align: center;\">\n<table style=\"text-align: center; border-spacing: 0px; width: 100%;\">\n<tbody>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: normal; width: 5%; border: none; background-color: #51527c; border-left: 1px solid #51527c;\"><\/td>\n<td style=\"font-weight: bold; width: 45%; border: none; background-color: #51527c; color: #ffffff;\">Neighborhood<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff;\">Borough<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff; border-right: 1px solid #51527c;\">Median $ Price Drops<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">1<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;SoHo-Little Italy-Hudson Square&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">SoHo-Little Italy-Hudson Square<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$150,000 (-4.1%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">2<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Tribeca-Civic Center&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Tribeca-Civic Center<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$135,000 (-4.9%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">3<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Chelsea-Hudson Yards&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Bedford-Stuyvesant (East)<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Brooklyn<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$125,000 (-5.9%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">4<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Greenwich Village&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Greenwich Village<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$125,000 (-5.8%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-bottom: 1px solid #51527c; border-left: 1px solid #51527c;\">5<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%; border-bottom: 1px solid #51527c;\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Bedford Park&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}\">Bedford Park<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c;\">Bronx<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c; border-right: 1px solid #51527c;\">-$124,750 (-10.0%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>This month, the neighborhoods with the highest median dollar price drops spanned three boroughs: Bronx, Brooklyn, and Manhattan. <a href=\"https:\/\/www.realtyhop.com\/for-sale\/little-italy-new-york-ny?areas=soho-new-york-ny,hudson-square-new-york-ny\">SoHo-Little Italy-Hudson Square<\/a> ranks the #1 neighborhood with the highest price drop in dollar terms for the second month in a row, coming in with the median price drop amount of $150,000, $1,000 less than last month. The lowest-ranked neighborhood on this list, Bedford Park, is also the neighborhood with the highest percentage price drop, with a median dollar value of $124,750, or 10.0%.<\/p>\n<h2><strong>Top 5 Residential Properties (Still on the Market) with the Highest Percentage Price Drop in October<\/strong><\/h2>\n<div style=\"width: 100%; max-width: 1068px; margin: 25px auto 25px auto; text-align: center;\">\n<table style=\"text-align: center; border-spacing: 0px; width: 100%;\">\n<tbody>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: normal; width: 5%; border: none; background-color: #51527c; border-left: 1px solid #51527c;\"><\/td>\n<td style=\"font-weight: bold; width: 45%; border: none; background-color: #51527c; color: #ffffff;\">Address<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff;\">Current Price<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff; border-right: 1px solid #51527c;\">Recent % Price Drops<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">1<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/3176-decatur-ave-10467\/6j\/19368233\">3176 Decatur Ave, Bronx, NY 10467<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$90,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\"><span data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-0.3}\" data-sheets-userformat=\"{&quot;2&quot;:1,&quot;3&quot;:{&quot;1&quot;:3,&quot;2&quot;:&quot;0.00%&quot;,&quot;3&quot;:1}}\">-28%<\/span> (-<span data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:1500000}\" data-sheets-formula=\"=R[0]C[-3]-R[0]C[-2]\">$35,000<\/span>)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">2<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">\u00a0<a href=\"https:\/\/www.realtyhop.com\/building\/61-09-39th-ave-queens-ny-11377\/f5\/19638667\">61-09 39th Ave, Queens, NY 11377<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$450,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">24.9% (-$149,000)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">3<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/66-madison-ave-manhattan-ny-10016\/11k\/18276933\">66 Madison Ave, Manhattan, NY 10016<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$450,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-23.7%(-$140,000)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">4<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/107-06-queens-blvd-queens-ny-11375\/4a\/16104756\">107-06 Queens Blvd, Queens, NY 13175<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$1,299,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-23.4%(-$396,000)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-bottom: 1px solid #51527c; border-left: 1px solid #51527c;\">5<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%; border-bottom: 1px solid #51527c;\"><a href=\"https:\/\/www.realtyhop.com\/building\/211-40-18th-avenue-11360\/6f\/19296612\">211-40 18th Ave, Staten Island, NY 11360<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c;\">$299,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c; border-right: 1px solid #51527c;\">-22.9%($89,000)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>The table above highlights the properties with the highest percentage price drop in October that are still on the market. Properties in this month&#8217;s roundup span across four different boroughs, including <a href=\"https:\/\/www.realtyhop.com\/for-sale\/staten-island-new-york-ny\">Staten Island<\/a>. Unit 6J at <a href=\"https:\/\/www.realtyhop.com\/building\/3176-decatur-avenue-bronx-ny-10467\">3176 Decatur Avenue<\/a> in the <a href=\"https:\/\/www.realtyhop.com\/for-sale\/bay-terrace-new-york-ny\">Bay Terrace<\/a> dropped 28% this month, decreasing from $125,000 to $90,000. The property at the bottom of the list, unit 6F at <a href=\"https:\/\/www.realtyhop.com\/building\/211-40-18th-avenue-bayside-ny-11360\">211-40 18th Avenue<\/a> in <a href=\"https:\/\/www.realtyhop.com\/for-sale\/bay-terrace-new-york-ny\">Bay Terrace<\/a> is a two-bedroom and two-bathroom co-op unit that dropped 22.9% down to $299,000 in October. This month, all five units dropped at least 20%.<\/p>\n<h2><strong>Top 5 Residential Properties (Still on the Market) with the Highest Dollar Price Drop in October\u00a0<\/strong><\/h2>\n<div style=\"width: 100%; max-width: 1068px; margin: 25px auto 25px auto; text-align: center;\">\n<table style=\"text-align: center; border-spacing: 0px; width: 100%;\">\n<tbody>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: normal; width: 5%; border: none; background-color: #51527c; border-left: 1px solid #51527c;\"><\/td>\n<td style=\"font-weight: bold; width: 45%; border: none; background-color: #51527c; color: #ffffff;\">Address<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff;\">Current Price<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff; border-right: 1px solid #51527c;\">Recent $ Price Drops<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">1<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/4-e-62nd-st-manhattan-ny-10065\/6\/18395974\">4 E 62nd St, Manhattan, NY 10065<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$7,800,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">&#8211;<span data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:3505000}\" data-sheets-userformat=\"{&quot;2&quot;:1,&quot;3&quot;:{&quot;1&quot;:4,&quot;2&quot;:&quot;\\&quot;$\\&quot;#,##0&quot;,&quot;3&quot;:1}}\">$2,000,000<\/span>(-20.4%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">2<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/200-central-park-s-manhattan-ny-10019\/15d\/19526686\">200 Central Park S, Manhattan, NY 10019<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\"><span data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:1390000}\" data-sheets-userformat=\"{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:4,&quot;2&quot;:&quot;\\&quot;$\\&quot;#,##0&quot;,&quot;3&quot;:1},&quot;12&quot;:0}\">$3,000,000<\/span><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">&#8211;<span data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:960000}\" data-sheets-formula=\"=R[0]C[-3]-R[0]C[-2]\">$650,000<\/span>(-17.8%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">3<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/21-16-45th-rd-queens-ny-11101\/building\/21126517\">21-16 45th Rd, Queens, NY 11101<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$2,198,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">&#8211;<span data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:680000}\" data-sheets-userformat=\"{&quot;2&quot;:1,&quot;3&quot;:{&quot;1&quot;:4,&quot;2&quot;:&quot;\\&quot;$\\&quot;#,##0&quot;,&quot;3&quot;:1}}\">$600,000<\/span>(-21.4%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">4<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/416-w-52nd-st-manhattan-ny-10019\/th323\/15906221\">416 W 52nd St, Manhattan, NY 10019<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$1,950,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$495,000(-20.7%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-bottom: 1px solid #51527c; border-left: 1px solid #51527c;\">5<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%; border-bottom: 1px solid #51527c;\"><a href=\"https:\/\/www.realtyhop.com\/building\/781-5th-ave-manhattan-ny-10022\/2804\/13622735\">781 5th Ave, Manhattan, NY 10022<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c;\">$1,900,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c; border-right: 1px solid #51527c;\">-$495,000(-20.7%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>The table above highlights properties that saw the most drastic price cuts in dollar terms this past month. In November, four of the listings in the above chart reside in Manhattan, with one listing from <a href=\"https:\/\/www.realtyhop.com\/for-sale\/queens-new-york-ny?center=12,40.67344,-73.82674\">Queens<\/a>. Many multi-million dollar properties dropped their prices by at least $495,000. The largest price drop by dollar value this month was at Unit 6 in <a href=\"https:\/\/www.realtyhop.com\/building\/4-east-62nd-street-new-york-ny-10065\">4 East 62nd Street<\/a>, where the unit dropped $2,000,000 from $9,800,000 to $7,800,000.\u00a0 The last property on the list, unit #2804 at <a href=\"https:\/\/www.realtyhop.com\/building\/781-5th-avenue-new-york-ny-10022\">781 5th Avenue<\/a> in <a href=\"https:\/\/www.realtyhop.com\/for-sale\/lenox-hill-new-york-ny\">Lenox Hill<\/a>, dropped $495,000 from $2,395,000 to $1,900,000.<\/p>\n<h2><strong>Standout Homes with Price Drops Greater than 16.7%<\/strong><\/h2>\n<div style=\"width: 100%; max-width: 900px; margin: 0px auto 20px auto;\"><img decoding=\"async\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/11\/891-PARK-AVE-14FL.jpg\" \/><\/div>\n<h3 class=\"my-0\" title=\"Unit #14FL, 891 Park Ave, New York, NY 10075\"><a href=\"https:\/\/www.realtyhop.com\/building\/891-park-ave-manhattan-ny-10075\/14fl\/17307639\">891 Park Ave #14FL<\/a><\/h3>\n<p>This two-bedroom and two-bathroom co-op on the <a href=\"https:\/\/www.realtyhop.com\/for-sale\/upper-east-side-new-york-ny\">Upper East Side<\/a> features gracious pre-war details like a wood-burning fireplace, oak herringbone floors, nad beamed nine-foot tlal ceillings. Homeowners can display their gallery of collectibles amongst the built-in shelves and ample amounts of open wall sapce between the oversized windows. The primary bedroom in the eastern wing includes two closets and an en-suite bathroom with a soaking tub and separate shower. The second bedroom makes the ideal living siutaiton for an additional resident, or a work-from home office. This property came onto the market in February of 2022, and has since undergone two price drops, this time dropping 17.5% from $1,695,000 to $1,399,000. This unit also has a low <a href=\"https:\/\/www.realtyhop.com\/blog\/what-is-cap-rate\/\">cap rate<\/a> of 0.48%.<\/p>\n<div style=\"width: 100%; max-width: 900px; margin: 0px auto 20px auto;\"><img decoding=\"async\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/11\/334-Putnam-Ave-Building.jpg\" width=\"900px\" height=\"auto\" \/><\/div>\n<h3><a href=\"https:\/\/www.realtyhop.com\/building\/334-putnam-ave-brooklyn-ny-11216\/building\/1220080\">334 Putnam Ave #Building<\/a><\/h3>\n<p>Owners get the best of both worlds with this opportunity, where they can own a Brooklyn brownstone and an income-generating property. This three-floor building in <a href=\"https:\/\/www.realtyhop.com\/for-sale\/bedford-stuyvesant-new-york-ny\">Bedford-Stuyvesant<\/a> is an SRO status brownstone that owners can use to create several floor-through family apartment untis. The unit also encompasses a garden rental that owners can decide to rent out to add a fourth income stream to the property. With details like brick fireplaces, hardwood floors, and decorative molding, this unit makes an appealing addition to an investment portfolio. The building came onto the market in April 2022 and dropped in price for the second time in October, coming down 20.6% from $1,195,000 to $949,000.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/photos.realtyhop.com\/p\/s\/990x990\/19540527_8b3754894dd3667fb37e4f11182f001f4881680c2c0ed395fd1e38aaf7d89bc1.webp\" \/><\/p>\n<div style=\"width: 100%; max-width: 900px; margin: 0px auto 20px auto;\"><\/div>\n<h3 class=\"my-0\" title=\"Unit #41034104, 246 Spring Street, New York, NY 10013\"><a href=\"https:\/\/www.realtyhop.com\/building\/246-spring-st-manhattan-ny-10013\/41034104\/19540527\">246 Spring St\u00a0#41034104<\/a><\/h3>\n<p>For part-time NYC residents who are looking for a passive source of income, this listing may be for you. Located in <a href=\"https:\/\/www.citysignal.com\/history-of-the-dominick-hotel\/\">The Dominick Hotel<\/a> in SoHo, these units are offered as a package deal with a $100,000 discount for the two luxury units. Both 41st-floor units are fully furnished studios that are managed by the hotel, but owners have the option to reside in the unit for up to 120 nights a year. For the other nights not spent in the space, the hotel will provide quarterly detailed summaries with how many nights your unit was rented, including fees and rates. The current price for these two units is $2,500,000, a $600,000 (19.4%) price drop from the listing date in July 2022.<\/p>\n<div style=\"width: 100%; max-width: 900px; margin: 0px auto 20px auto;\"><img decoding=\"async\" src=\"https:\/\/photos.realtyhop.com\/p\/s\/990x990\/1274000_976b5847e5733791a46b30cc4ec2b26ccc2a32af2c6676cb3778a5b3a11679d4.webp\" \/><\/div>\n<h3 class=\"my-0\" title=\"Unit #1D, 4 West 109th Street, New York, NY 10025\"><a href=\"https:\/\/www.realtyhop.com\/building\/4-w-109th-st-manhattan-ny-10025\/1d\/1274000\">4 W 109th St\u00a0#1D<\/a><\/h3>\n<p>On a Central Park Block in Manhattan Valley, this 3-bed, 2-bath coop is sweetly nestled. Gorgeous wood detailing throughout the residence and an open kitchen plan add to the charm of this home. Large windows, a dining alcove, custom LED lighting, ample storage space, and updated appliances check off many desired boxes when NYC home-hunting. Included with the building is a part-time doorman, a resident manager, a stunning, furnished roof deck, a gym, a children&#8217;s playroom, laundry, and storage. This unit is perfect for a growing family or a jack-of-all-trades who needs ample space to work. A recent 16.7% price drop puts the unit at $995,000 with a hearty cap rate of 5.79%<\/p>\n<h2><strong>Methodology<\/strong><\/h2>\n<p>The New York City Price Drop report is a monthly report that analyzes proprietary data from RealtyHop to map price drops for listings in New York City. It includes listings that experienced price changes the month prior to publications in all five boroughs of New York City.<\/p>\n<p>To fairly analyze each neighborhood and eliminate outliers, only neighborhoods with over 10 price drops will be included in the rankings for the highest median percentage price drops and highest median dollar price drops sections.<\/p>\n<p>Want to know who owns these listings? Check it out by using our <a href=\"https:\/\/www.realtyhop.com\/property-records\/search\">New York Property Records Search<\/a>.<\/p>\n<style>\n.button1 {box-shadow: 0 0 0 0 rgba(0,0,0,0.2), 0 0 0 0 rgba(0,0,0,0.19);}.button { background-color: #51527c; border: none; color: #ffffff; padding: 5px 15px; border-radius: 4px; text-align: center; text-decoration: none; display: inline-block; font-size: 15px; font-weight: bold; margin:4px 2px; cursor: pointer; -webkit-transition-duration: 0.4s; transition-duration: 0.4s;}<br \/><\/style>\n","protected":false},"excerpt":{"rendered":"<p>The real estate market has its ups and downs. In this November installment of the NYC price drops report, RealtyHop analyzed available data for October 2022 across boroughs and neighborhoods in New York City to provide a useful resource for those looking to invest in real estate. We focused on neighborhoods with the greatest total [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":9028,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[2239,3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v22.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RealtyHop Price Drops Report: November 2022 - RealtyHop Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realtyhop.com\/blog\/realtyhop-price-drops-report-november-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RealtyHop Price Drops Report: November 2022\" \/>\n<meta property=\"og:description\" content=\"The real estate market has its ups and downs. 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