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By: Hadassa Kalatizadeh
With 2024 behind us, we now have the hind sight to take a deeper look at the year’s real estate trends in New York City. As per a recent article in the NY Times, here is a peek at 2024’s priciest and most-sought-after residential neighborhoods and amenities in NYC.
StreetEasy compiled lists naming the top 10 most popular neighborhoods in New York City, for buyers and for renters, based on the popularity of searches made in 2024. Many of the expected posh Manhattan neighborhoods topped both lists, including Chelsea; Greenwich Village; the West Village; SoHo; TriBeCa; and Midtown East. For those looking to rent, Midtown East was the No. 1 most popular search, while The Upper East Side was the most popular search for New Yorkers looking to buy. Brooklyn neighborhoods also made it to both lists, with Williamsburg being among the most popular searches by both renters and buyers. Other sought-after Brooklyn neighborhoods included Park Slope and Brooklyn Heights.
Per the Times article, Street Easy also compiled a list of the NYC neighborhoods with the highest median asking rent. Most of these neighborhoods are in Manhattan, with TriBeCa posting the highest median asking rent in the five boroughs, at a whopping $8,295 a month. Next was SoHo, with an average asking rent of $6,100, showing a 14 percent increase compared to 2023. The Flatiron district followed, with an average asking rent of $5,900 per month.
For buyers, the most expensive neighborhood was SoHo, with an average asking price of $4,200,000 per home. TriBeCa was next, with an average ask of $3,995,000. The Brooklyn brownstone neighborhood of Carroll Gardens was next on this list, with an average asking price of $2,650,000. Other Brooklyn neighborhoods with inflated price tags for 2024 included Cobble Hill, Boerum Hill, Dumbo and Park Slope, with the average asking prices ranging respectively from $2,499,500 to $1,750,000.
Amenity searches made in 2024 were also studied by Street Easy. Based on the reports, which utilized listing data and search trends, one of the most coveted amenities was an in-unit laundry machine. In 2024, for the second year in a row, renters and buyers in NYC wanted this amenity above all others, based on the searches. Previous research by Zillow, had similarly shown that rentals with in-unit laundry had about 76 percent more shares and 91 percent more saves, compared to units without them, based on analyzing listing searches between June 2023 and May 2024. Per the Street Easy data, other top amenities for 2o24, based on popular searches, were an elevator and a pet-friendly home. These amenities beat out even parking or central air conditioning. Based on StreetEasy’s
year end review, pet-friendly rentals saw a 200 percent increase in search volume from 2023 to 2024, probably due to the increase in pet ownership which began during the pandemic. Renters also were looking to have a dishwasher, while for buyers the other top sought-after amenities included a doorman and private outdoor space. Though this was a popular search among buyers, this amenity usually leads the home’s price tag to surge. Big Apple apartments with private outdoor space can sell for thousands of dollars more, as per Brick Underground.
Street Easy’s NYC Year in Review also studied the neighborhoods with the largest growth in rental and sales inventory for 2024. The greatest Year-Over-Year Inventory Growth for sales was in Astoria, Queens with 26% more listings, while the most growth in inventory for rentals was seen in DUMBO, Brooklyn, with 82% more home inventory year over year.
