Manhattan & Brooklyn
Real Estate Hot Spots

by Oshrat CarmielOshrat Carmiel
March 20, 2017

A few blocks may make all the difference in the price you pay for a home in Manhattan and Brooklyn. Our map, which updates quarterly, shows how values vary by neighborhood, what kinds of deals buyers are negotiating or even whether it makes more sense to rent. On Manhattan’s West Side, the median resale price slipped in almost all areas in the last three months of 2016, but the East Side fared better. Brooklyn buyers didn’t have much bargaining power if they were looking in areas close to Manhattan, while those willing to venture farther out got bigger discounts.

Interested in property hot spots across the pond? Visit our London real estate graphic →

Manhattan and Brooklyn real estate at a glance for the quarter ended December 31, 2016:

Highest priced sale

Median home price

Change in price from last year

Click or tap on any neighborhood in the map to add it to the comparison charts below. Click or tap on any neighborhood name above to remove it.

Definition of Terms and Methodology

The sales data are based on condo, co-op, townhouse and single-family home transactions during the last three months of 2016, according to StreetEasy’s analysis of records from the New York City Department of Finance. Due to a delay between the closing date and when a sale is recorded by the Department of Finance, the data may not include all closings during the quarter.

Highest sale price
The highest sale price for all closed transactions in the quarter.

Median resale price
The middle price for homes with sales that closed in the quarter and had a prior recorded sale since 1995.

Median sale price, all homes
The middle price for all sales that closed in the quarter, including deals in new developments.

Price change
The percentage change in median price from the identical period in the previous year.

Median days on market
The middle value for the number of days from when a home was originally listed on StreetEasy to when it went under contract.

Sales count, all homes
The number of home sales that closed during the quarter.

Sales count, resales
The number of homes that sold in the quarter with a prior recorded sale since 1995.

Median asking rent
The middle advertised monthly price for rental homes listed on StreetEasy during the quarter.

Rental count
The number of properties listed for rent on StreetEasy during the quarter.

Tipping point
The time it would take for the accumulated costs of renting a home to equal or exceed the cost of buying and owning a comparably size home in the same area. The calculation takes into account such homeownership costs as principal and interest payments on a 30-year fixed-rate mortgage, New York City taxes and the tax implications of selling a home, and such rental costs as renter’s insurance and the broker’s fee.

Listing discount
The median percentage change between the initial asking price listed on StreetEasy and the recorded sale price.

Share of sales listings with price cuts
The percentage of homes for which the list price was reduced while advertised on StreetEasy.

NAs
Metrics with fewer than 10 examples in a neighborhood aren’t reported because more data are needed for an accurate representation. These are indicated as “NA”.