By: Eloise Heimowitz

New York City’s spring housing market shattered records once again this year, but the results haven’t exactly surprised experts or buyers, the New York Post reported.

Topping the list for the sixth consecutive year is Manhattan’s ultra-luxury enclave, Hudson Yards. With a jaw-dropping median sale price of $5.95 million, the far west side neighborhood continues to dominate New York’s real estate rankings. The limited number of sales–just seven this spring–did little to diminish its standing, as each property commanded staggering price tags, pushing Hudson Yards well ahead of its closest competitors, the New York Post reported.

Following closely behind Hudson Yards are two other Manhattan heavyweights: Tribeca and Soho. Tribeca reclaimed its spot as the city’s second most expensive neighborhood after an impressive sales season. The median sale price in Tribeca surged 43% from the previous year to $4.15 million, buoyed by 105 sales–an increase of over 50% compared to last spring. This strong performance helped Tribeca regain ground after earlier in the year being briefly edged out by the burgeoning Little Italy market, the New York Post reported.

Soho secured third place with a median price of $3.68 million, achieved through 32 property sales during the spring quarter, according to the quarterly report by data firm PropertyShark.

While Manhattan neighborhoods continue to hold sway in terms of price, several Brooklyn communities are beginning to close the gap, showcasing shifting dynamics in the city’s real estate landscape. Notably, Brooklyn claimed as many neighborhoods in the top 50 priciest list as Manhattan did, signaling the borough’s growing appeal among buyers with deeper pockets.

Brooklyn’s Columbia Street Waterfront District emerged as a newcomer in the rankings, taking the sixth spot citywide. The neighborhood posted a median sale price of $1.92 million from 12 sales during the spring period–a clear sign that some Brooklyn areas are moving up the ladder in terms of desirability and value, the New York Post reported.

Elsewhere in Brooklyn, Carroll Gardens presented a more nuanced picture. The neighborhood experienced a 32% drop in median sales price, down to $1.33 million, yet it boasted the highest increase in sales volume across the city–a striking 129% jump. This combination suggests that Carroll Gardens may be finding a better balance between pricing and what buyers are willing to pay, potentially attracting more entry-level buyers or those priced out of Manhattan markets, the New York Post reported.

Meanwhile, Manhattan Beach witnessed the sharpest price growth in the city with an astonishing 197% increase in median sale price to $1.47 million. Most homes in this coastal Brooklyn neighborhood recently sold for over $1 million, further underscoring the borough’s rising stature.

Queens, which accounted for roughly one-third of all New York City home sales in the second quarter, saw mostly flat prices compared to last year. Fresh Meadows, known for its family-friendly vibe, returned to the spotlight as Queens’ priciest neighborhood with a median sale price of $1.15 million, driven largely by single-family home transactions, according to Property Shark’s data.

Citywide, real estate sales increased by 4% year-over-year in the spring, pushing the median sale price to an all-time high of $799,000, demonstrating the resilience of New York’s housing market despite lingering economic uncertainties and shifting buyer preferences,

The spring sales surge highlights the continued demand for luxury and high-end housing in Manhattan, even as other boroughs make strides toward greater market parity.