Q1 2022 Bronx Real Estate Market Report
As the spring market heats up, the Bronx continues to appreciate in value despite a slowdown in the market. Our Q1 2022 Market Report for the Bronx is full of data that will help you make decisions in this market.
Hope you’re enjoying the warmer weather in the city! As the spring market heats up, the Bronx continues to appreciate in value despite a slowdown in the market. Our Q1 2022 Market Report for the Bronx is full of data that will help you make decisions in this market.
Let’s look at how the Bronx market fared in the first quarter of 2022 and how it compares historically. In the first quarter of 2022:
– The Bronx residential real estate market continued to outpace its 2020 and Q3 2021 performance, although at a slower pace, with sales up 5% year-over-year versus 37% in Q4 2021. Despite this growth, the Bronx still remains the city’s most affordable borough.
– –16% decrease in sales from the previous quarter. 905 units sold in Q1 2022 vs 1,072 units sold in Q4 2021.
– The average days on market increased to 89 days last quarter, compared to 75 days in Q4 2021. However, the median days on market is at about 54 days, signaling that listings are often selling faster.
As always, if you have any questions or want to work with us on your real estate search, drop us a line anytime.
