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Wakefield Home Prices

The data below shows median sales prices for Wakefield Bronx homes, co-ops and condos as determined from New York City property records in December 2010. For the 3 months ending December 2010, the median sales price for all Wakefield homes and apartments was $447,3061. A history of quarterly median sales prices is below. For a less volatile look at pricing, see the 12 month rolling median price data. Affordability based on income and recorded home sales is also calculated.

Quarterly Rolling Home Price History for Wakefield

Compared to the 3 months ending December 2009, the combined median price for the 3 month period ending December 2010 is 15.94% higher.

The quarterly rolling median price for all homes and apartments in bronx reached its most recent peak of $560,000 in November 2007. At $447,306, the current quarterly rolling median price is now 20.12% lower. When the quarterly rolling median price hit its lowest point (to date) of $287,810 in November 2010 it was 48.61% off the most recent peak. It has since climbed 55.42% from that post peak low.

Quarterly Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined

quarterly median sales prices in Wakefield for houses, co-ops, condos and combined properties

History of Quarterly Rolling Median Sales Prices for the Last Year

Month Houses CO-OPs Condos Combined
December 2010 $447,306 § — § — § $447,306 §
November 2010 $287,810 § — § — § $287,810 §
October 2010 $329,856 — § — § $329,856
September 2010 $350,000 — § — § $350,000
August 2010 $352,000 — § — § $352,000
July 2010 $350,000 — § — § $350,000
June 2010 $345,000 — § — § $345,000
May 2010 $345,000 — § — § $345,000
April 2010 $345,000 — § — § $345,000
March 2010 $343,750 — § — § $343,750
February 2010 $355,000 — § — § $355,000
January 2010 $372,500 — § — § $372,500
December 2009 $385,800 — § — § $385,800

12 Month Rolling Home Price History for Wakefield

The 12 month rolling median price for all homes and apartments in bronx reached its most recent peak of $484,500 in February 2008. At $345,000, the current 12 month rolling median price is now 28.79% lower. This is the lowest value for the 12 month rolling median price since the February 2008 peak.

12 Month Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined

12 month rolling median sales prices in Wakefield for houses, co-ops, condos and combined properties

History of Rolling Median Sales Prices for the Last Year

Month Houses CO-OPs Condos Combined
December 2010 $345,000 — § — § $345,000
November 2010 — § — § — § — §
October 2010 $350,000 — § — § $350,000
September 2010 $355,000 — § — § $355,000
August 2010 $355,700 — § — § $355,700
July 2010 $355,700 — § — § $355,700
June 2010 $350,000 — § — § $350,000
May 2010 $359,725 — § — § $359,725
April 2010 $360,000 — § — § $360,000
March 2010 $360,400 — § — § $360,400
February 2010 $365,650 — § — § $365,650
January 2010 $369,500 — § — § $369,500
December 2009 $367,000 — § — § $367,000

Wakefield Home Affordability

In 2007, the median household income in Bronx was $32,4092. Home affordability guidelines suggest that no more than 30% of household income be spent servicing a home loan. For the median Bronx household, this would have meant that a monthly mortgage payment should not have exceeded $810 using the 2007 average mortgage rate of 6.34%3. Combining this with 2007 property sales records, we can calculate that the median income household could have potentially afforded approximately 18.28% of the homes and apartments sold in Wakefield in all of 2007.

1. All sales metrics are calculated from NYC Rolling and NYC Annual property sales. Metrics derived from rolling data are preliminary as some sales take months to report. ↩

2. Affordability data, including median income by borough, are calculated from metrics in the NYC Datamine Economic and Housing Profile datasets. ↩

3. Average mortgage rates are from Freddie Mac Primary Mortgage Market Survey Archives and do not include points. ↩

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