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Home Prices in the 10024 zip code of Manhattan

The data below shows median sales prices for Manhattan homes, co-ops and condos in the 10024 zip code as determined from New York City property records in December 2010. For the 3 months ending December 2010, the median sales price for all homes and apartments in the 10024 zip code was $1,336,5001. 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 the 10024 zip code

Compared to the 3 months ending December 2009, the combined median price for the 3 month period ending December 2010 is 52.74% higher.

At $1,336,500, the current combined median price is now at a new all time high for the series.

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

quarterly median sales prices in 10024 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 $4,177,500 § $955,000 $1,675,000 $1,336,500
November 2010 $4,177,500 § $826,000 $1,800,400 $1,262,500
October 2010 $3,775,000 § $830,000 $1,612,500 $1,100,000
September 2010 $3,587,500 § $1,010,000 $1,680,110 $1,185,000
August 2010 $3,310,000 § $960,000 $1,527,500 $1,032,500
July 2010 $5,175,000 § $945,500 $1,431,590 $999,000
June 2010 $4,100,000 § $775,000 $1,110,000 $855,000
May 2010 $4,100,000 § $760,000 $992,000 $880,000
April 2010 $4,000,000 § $850,000 $860,000 $900,000
March 2010 $4,541,300 § $906,500 $1,102,500 $947,500
February 2010 $5,182,600 § $935,000 $1,100,000 $940,000
January 2010 — § $865,000 $1,075,000 $887,500
December 2009 — § $860,000 $1,020,000 $875,000

12 Month Rolling Home Price History for the 10024 zip code

The 12 month rolling median price for all homes and apartments in 10024 reached its most recent peak of $1,030,000 in June 2008. At $1,015,000, the current 12 month rolling median price is now 1.46% lower. When the 12 month rolling median price hit its lowest point (to date) of $875,000 in April 2010 it was 15.05% off the most recent peak. It has since climbed 16.00% from that post peak low.

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

12 month rolling median sales prices in 10024 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 $3,900,000 § $888,500 $1,408,180 $1,015,000
November 2010 — § — § — § — §
October 2010 $4,000,000 § $860,000 $1,235,000 $965,000
September 2010 $3,900,000 § $860,000 $1,177,500 $952,500
August 2010 $3,785,000 § $875,000 $1,100,000 $945,000
July 2010 $4,100,000 § $850,000 $1,020,000 $910,000
June 2010 $4,100,000 § $825,000 $995,000 $875,000
May 2010 $4,637,500 § $841,250 $940,000 $880,000
April 2010 $4,000,000 § $842,500 $900,500 $875,000
March 2010 $4,541,300 § $850,000 $940,000 $890,000
February 2010 $5,182,600 § $870,000 $940,000 $895,500
January 2010 $4,808,000 § $850,000 $945,000 $890,000
December 2009 $4,808,000 § $865,000 $925,000 $890,000

Home Affordability in the 10024 zip code

In 2007, the median household income in Manhattan was $62,2682. Home affordability guidelines suggest that no more than 30% of household income be spent servicing a home loan. For the median Manhattan household, this would have meant that a monthly mortgage payment should not have exceeded $1,557 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 4.46% of the homes and apartments sold in 10024 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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