Bronx and Staten Island home sales surging, says REBNY

Home sales increased 35 percent in both boroughs in the first quarter
  • Bronx and Staten Island homes sales volume were largely spurred by one-to-three family dwellings in co-ops and condominiums
  • Staten Island and the Bronx pulled substantial weight in the absence of Brooklyn, where sales volume decreased by 4 percent, bringing home sales in the first quarter to 2,806 in total.
  • Across NYC, 11,827 homes were sold in the first quarter — a 5 percent increase from the prior quarter.
  • Overall, the average sales price of all NYC homes increased 1 percent, from $898,000 in the first quarter of 2015 to $911,000 in the first quarter this year.

Booming Bronx and Staten Island home sales activity helped fortify the New York City real estate market pre-Spring, says the Real Estate Board of New York’s (REBNY) First Quarter 2016 Residential Sales Report.