The main driver behind the rising and falling home prices throughout New York City is the influx of luxury developments hitting the market over the past few years. Sales in an amenity-rich, high-end building can drastically alter a neighborhood's median prices.
Little Italy in Manhattan had the highest median price increase at 147.1 percent, to $3,212,127. Meanwhile, Manhattan's Greenwich Village had one of the biggest decreases, 38.6 percent, to $1,975,000. Real estate appraiser Jonathan Miller teamed with Realtor.com to rank the neighborhoods, using data including all co-ops, condos, and one- to three-family homes that closed in the third quarters.
You've got Manhattan and its high-rises, always hogging the spotlight; uber-trendy Brooklyn with its craft brews, hipsters, and working-class communities; predominantly middle-class, suburban Queens and its immigrant enclaves; the gritty Bronx, perennially touted as "the next big thing"; and oft-forgotten (and oft-maligned) Staten Island.
