Bronx Real Estate | 3 minute read
Bronx Luxury Market Is Picking Up, Median Home Price Sees Very Modest Increase in 2015
BY Andra Rus | Jan 19, 2016
Residential Market Highlights
- The median price reached $250,000, a modest 2% increase Y-o-Y.
- The total number of transactions closed was 1,938, far from the values seen before 2008.
- The luxury market is picking up and reached an all-time high with 37 sales recorded over $1M.
- Most expensive neighborhood: Morris Park, median home sale price hit $464,500.
- Most expensive home sold: 4680 Livingston Avenue in Fieldston for $2.9M
- Most expensive apartment sold: unit #16 C at Solaria Riverdale for $1.6M.
 Median Sale Price in the Bronx Fluctuates
For the past 10 years, our data shows that the median sale price in the borough has been fluctuating from its high point in 2010 ($280,000) to the low points in 2005 and 2008 ($240,000).
While before 2008 the number of total transactions exceeded 3,000 per year, it dropped to under 2,000 after 2009. This drop in sales volume was immediately followed by a rise in the median sale price.
 Neighborhoods in The Bronx
The most expensive neighborhood by median sale price was Washington Heights in Manhattan ($455,000) or Georgetown in Brooklyn ($450,000).
Here are the top 10 neighborhoods that saw the highest median sale price in 2015:
Luxury Market Is Picking Up
With 37 sales over $1M, the luxury segment in the Bronx reached an all-time high (up 42% Y-o-Y). Riverdale, in particular, leads the luxury market as new condo developments are selling units for high prices.
Most Expensive Properties
In terms of single-family sales, 6 properties sold for $2M and up in 2015, located in Fieldston, Riverdale and Bedford Park.
The large suburban residence at 4680 Livingston Avenue sold for $2.9M, making it the most expensive home sale in the Bronx. Sitting on a generous piece of land covering almost 40,000 square feet, it offers the new owners 5,200 square feet of living space.
The expensive end of the market in the Bronx comprises several sales in the Solaria Riverdale condominium. The most expensive unit sold in all of the Bronx was unit 16C in this building and 4 other units also made the top 10.
In fact, all but one of the most expensive units are located in Riverdale and apartments on Douglas Avenue also occupy 3 of the top 10 spots!
Here are the top 10 most expensive apartments sold in 2015:
Top 10 Most Expensive Apartment Sales in The Bronx
| # | Address | Sale Price | Sale Date | Neighborhood |
|---|---|---|---|---|
| 1 | 640 West 237 Street #16C | $1,677,594 | September 10, 2015 | Riverdale |
| 2 | 4471 Douglas Avenue #TH11 | $1,440,000 | March 10, 2015 | Riverdale |
| 3 | 4477 Douglas Avenue #TH14 | $1,440,000 | June 1, 2015 | Riverdale |
| 4 | 4437 Douglas Avenue #TH9 | $1,351,500 | June 2, 2015 | Riverdale |
| 5 | 640 West 237 Street #9C | $1,344,090 | October 7, 2015 | Riverdale |
| 6 | 640 West 237 Street #19A | $1,334,000 | July 14, 2015 | Riverdale |
| 7 | 640 West 237 Street #7C | $1,260,000 | September 22, 2015 | Riverdale |
| 8 | 640 West 237 Street #4C | $1,230,000 | July 29, 2015 | Riverdale |
| 9 | 2575 Palisade Avenue #1CDE | $1,175,000 | October 21, 2015 | Spuyten Duyvil |
| 10 | 628 West 238 Street #PHB | $1,150,000 | November 5, 2015 | Riverdale |
Here are the top 10 most expensive single-family homes sold in 2015:
Top 10 Most Expensive Single-Family Home Sales in The Bronx
| # | Address | Sale Price | Sale Date | Neighborhood |
|---|---|---|---|---|
| 1 | 4680 Livingston Avenue | $2,900,000 | January 23, 2015 | Fieldston |
| 2 | 1 Blackstone Place | $2,875,000 | July 1, 2015 | Riverdale |
| 3 | 5264 Independence Avenue | $2,800,000 | June 4, 2015 | Riverdale |
| 4 | 5000 Goodridge Avenue | $2,300,000 | March 13, 2015 | Fieldston |
| 5 | 9 Sigma Place | $2,000,000 | March 24, 2015 | North Riverdale |
| 6 | 10 Minerva Place | $2,000,000 | July 30, 2015 | Bedford Park |
| 7 | 680-6 Delafield Way | $1,836,000 | January 15, 2015 | Riverdale |
| 8 | 2880 Jerome Avenue | $1,800,000 | July 30, 2015 | Bedford Park |
| 9 | 5211 Arlington Avenue | $1,750,000 | October 28, 2015 | Riverdale |
| 10 | 4642 Waldo Avenue | $1,600,000 | June 24, 2015 | Fieldston |
Methodology:
* Data is based only on residential properties sold between January 1, 2005 and December 15, 2015.
* The building classes counted are single-family homes, condo and coop units.
* The final number of properties sold in 2015 was adjusted (not all 2015 sales are recorded.)
*Luxury market includes all sales over $1 million.
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POSTED IN: Bronx Real Estate
With 10+ years of experience at PropertyShark, Andra covers the latest product updates and market reports for our blog. Her work has been featured in The Real Deal, Curbed, TimeOut, The Daily Mail, Business Insider, Crain’s New York.
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