AgentMarkets & Economy

Bronx home sales outpace strong state-wide growth, report says

NYSAR report shows New York home sales had best first quarter since 2007
  • State-wide sales grew almost 17 percent between the first quarter of 2015 and the first quarter of 2016, the report says.
  • Kings County (Brooklyn), did not fare as well on a quarterly scale, with a 13.3 percent drop in closed sales, down to 405 from 467 in 2015.
  • However, Queens had a 2.4 percent jump, up to 1,974 sales last quarter from 1,927 in the first quarter of 2015.
  • As NYSAR notes, growing pending sales and low inventory represents an opportune moment for sellers who can capitalize on rising values.

In the first quarter of this year, Bronx home sales grew 19.3 percent, from 228 to 272 sales year-over-year. Bronx’s sales growth outpaces the impressive state-wide progress that marks the strongest start to the housing market in a decade, according to the New York State Association of Realtors. State-wide sales grew almost 17 percent between the first quarter of 2015 and the first quarter of 2016, the report says, with first quarter growth being the highest since 2007, at 23,932 closed sales across the state of New York. [graphiq id="9bcQMMSrZrv" title="Bronx borough, NY Profile" width="600" height="603" url="https://w.graphiq.com/w/9bcQMMSrZrv" link="http://places.findthehome.com/l/310043/Bronx-borough-NY" link_text="Bronx borough, NY Profile | FindTheHome"] “Building on the momentum of the 2015 market, home sales continued to grow at a robust pace in the first quarter of 2016,” said Duncan R. MacKenzie, CEO of the New York State Association of Realtors. “We anticipa...