After a sales market slowdown that predated the pandemic, stretching all the way back to 2018, the New York City sales market is showing signs of a comeback. The Neighborhood Scout Price Index demonstrates this NYC real estate rebound, rising quarter-over-quarter in Manhattan, Brooklyn, and Queens.
Appreciation rates for homes in New York have been tracking above average for the last
ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the
ten years has been 72.84%, which ranks in the top 40% nationwide. This equates to an
annual average New York house appreciation rate of 5.62%.