The YOY demand is on the rise in both Manhattan and Brooklyn
Market volume shows lower amount of transactions
Manhattan Median Sale Price increased 9.8% in 10 years
Hudson Yards is the most expensive neighbourhood in NYC with $7.13M annual median sale pricePropertyShark's recent report on the Top 50 Priciest Neighborhoods of 2024 reveals an interesting trend: while transaction volume has declined in many areas YoY, median sale prices have risen. This is likely driven by strong activity in the luxury and new development markets, where fewer but high-value sales have pushed prices upward.
Understanding these dynamics is invaluable for investors, as it highlights neighborhoods with emerging opportunities and those that consistently retain or grow in value. Whether you're seeking growth or stability, this data helps refine your market insights. Manhattan Rents Hold Steady as Listings Drop 31%
If you have any questions or looking to price an apartment, please reach out directly.
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