NYC's median home sale price soared to a record high - with 1 borough driving the surge: Study

"Overall, New York City's median home price soared to a record $800,000 in the third quarter - up 4% from last year - as Brooklyn stole the spotlight from Manhattan, according to PropertyShark's latest ranking of the city's 50 most expensive neighborhoods. While Manhattan held firm at a $1.15 million median sale price, sales activity jumped 15% year-over-year. But it was Brooklyn that drove the citywide surge, with median sale values climbing 11% to an all-time high of $916,000."

"The borough also edged out Manhattan in the luxury leaderboard, claiming 26 of the top 50 slots, compared with the island's 19. Still, Hudson Yards, on Manhattan's far West Side, kept its crown as the city's priciest pocket at $4.99 million, fueled by big-ticket trades at 35 and 15 Hudson Yards. Tribeca followed close behind at $3.77 million, and Soho slipped to No. 3 after a 21% price dip to $3.36 million, dragged down by a slowdown in condo deals."

"Rounding out the top five, Hudson Square - a subset of Soho - shot up 43% to $2.65 million, while Cobble Hill held the highest Brooklyn spot at $2.28 million, marking a 24% jump from last year. Other borough-level standouts included Dumbo ($1.93 million), Fort Greene ($1.9 million), and Boerum Hill, which notched a staggering 304% surge in sales thanks to a new condo project on Bergen Street. Queens quietly posted a record, too - its median sale price hit $600,000, up 4% year-over-year."

New York City's median home price reached $800,000 in the third quarter, a 4% year-over-year increase. Manhattan's median remained $1.15 million while sales activity rose 15%. Brooklyn led the citywide gain, with its median climbing 11% to $916,000 and capturing 26 of the top 50 luxury neighborhood slots. Hudson Yards remained the priciest at $4.99 million; Tribeca followed at $3.77 million and Soho fell to $3.36 million amid weaker condo sales. Several Brooklyn enclaves posted strong gains, Queens hit a $600,000 median (up 4%), and overall transactions exceeded 8,500, up 8%.

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