Top 50 Most Expensive NYC Neighborhoods in 2021: NYC Sales & Median Price Hit Highest Figures in 10 Years - PropertyShark Real Estate Blog

Abstract

Median Sale Prices Rise in 77% of NYC's Most Expensive Neighborhoods Of the 56 neighborhoods that posted the 50 highest median sale prices, 43 neighborhoods recorded price gains. What's more, not only did 77% of the city's most exclusive neighborhoods experience price increases, but two neighborhoods - Brooklyn's Manhattan Beach and Jamaica Estates in Queens - actually recorded price surges of more than 100%. Additionally, the number of neighborhoods with medians of $1 million or more also rose from 31 in Q2 2021 to 38 in Q2 2022- an increase of 23% Y-o-Y. Of these, 19 were located in Manhattan, 16 in Brooklyn and three in Queens. While NYC's median sale price ticked down, the city's priciest neighborhoods overwhelmingly experienced increases, as evidenced by the #50 most expensive neighborhood's median: Manhattan's Sutton Place claimed the last spot in our ranking with an $883,000 median. InsertBefore(scriptElement, vizElement); Meanwhile, most of the city's priciest neighborhoods saw sales activity further accelerate, as 32 neighborhoods closed more residential sales in Q2 2022 than during the same period last year. Although the number of sales in the city's newest neighborhood shot up 150% - the second-sharpest increase in sales activity among the city's top neighborhoods - in terms of actual deals, that represented an increase from just six sales in Q2 2021 to 15 in Q2 2022. Despite the borough's median trending downward, Brooklyn was actually the scene for seven of the 10 most significant increases in neighborhood median sale prices, in addition to three of the 10 highest gains in sales activity. Year-over-year changes in median sale prices or the number of sales were only calculated for neighborhoods that also recorded a minimum of five sales between April 1 and June 30, 2021.