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The New York City real estate market showcased remarkable resilience in 2024, with many neighborhoods seeing record-setting prices despite a relatively stable number of sales. Below is a detailed breakdown of the top 50 priciest neighborhoods in NYC, along with key trends that shaped the market this year.
Key Takeaways from 2024
•Hudson Yards’ Dominance: For the sixth consecutive year, Hudson Yards claimed the top spot with a record-breaking $7.13 million median sale price.
•Chelsea & NoLiTa Soar: Median sale prices in these neighborhoods surged by 50% year-over-year (Y-o-Y).
•Brooklyn Makes Its Mark: Red Hook and Carroll Gardens were the only Brooklyn neighborhoods in the top 10.
•Queens Rises: Queens placed 10 neighborhoods on the list, though only Hunters Point surpassed a $1 million median price.
•Citywide Gains: The NYC median sale price increased 3% Y-o-Y, closing at $748,000, nearly recovering from the 2023 dip.
photo credit: Property Shark
Top 10 Priciest NYC Neighborhoods in 2024
1.Hudson Yards: $7.13M (+22% Y-o-Y)
2.TriBeCa: $3.3M (+12% Y-o-Y)
3.SoHo: $3.1M (-15% Y-o-Y)
4.NoHo: $2.96M (-7% Y-o-Y)
5.Central Park South: $2.61M (-25% Y-o-Y)
6.NoLiTa: $2.4M (+50% Y-o-Y)
7.Hudson Square: $2.11M (-8% Y-o-Y)
8.Carnegie Hill: $2M (+1% Y-o-Y)
9.Red Hook (Brooklyn): $1.98M (+11% Y-o-Y)
10.Carroll Gardens (Brooklyn) & NoMad: $1.95M
Manhattan Continues to Lead
Manhattan dominated the list with 27 of the top 50 neighborhoods. Despite some price fluctuations, the borough remains the epicenter of luxury living. Notable trends included:
•TriBeCa’s Strength: Its $3.3M median was boosted by high-value single-family homes.
•Central Park South Declines: A sharp 25% drop still placed it in the top five.
Brooklyn’s Expanding Presence
Brooklyn neighborhoods accounted for 21 of the 50 most expensive areas, further cementing the borough’s growing luxury market:
•Greenpoint Growth: Sales in Greenpoint surged 150% Y-o-Y, pushing its median price higher.
•Carroll Gardens Soars: A 38% Y-o-Y increase secured its top-10 spot.
Queens Enters the Luxury Market
Queens saw significant progress, with 10 neighborhoods making the list, up from 7 last year. Hunters Point led the way, surpassing the $1M median mark.
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