By Emily Davenport
A new report looked into which areas of New York City saw price drops throughout the month of September.
According to RealtyHop, five Manhattan neighborhoods had the highest number of price drops last month. Manhattan’s Upper East Side-Carnegie Hill was the neighborhood with the most price drops in September with a total of 188 price drops, followed by Turtle Bay-East Midtown had a total of 180 price drops.
The Hudson Yards-Chelsea-Flatiron-Union Square area was third highest with a total of 157 price drops, followed by Lincoln Square with 151 drops. The Upper West Side followed closely behind at number five with 150 price drops.
Though Manhattan had the highest number of price drops last month, the Norwood area of the Bronx had the highest median percentage price drop with -39.6%, meaning the listing had a $78,800 price drop. Following not so closely behind was the Bronx’s Bedford Park-Fordham North with a -10.3% drop, meaning a drop of $33,433 on a listing, and the Steinway area of Queens with a -10.1% drop, a -101,000 decrease on the listing.
Two neighborhoods in the Bronx round out the top five with high median percentage price drops last month: the Melrose South-Mott Haven North with a 9.6% drop, meaning a $96,000 price drop in the area, and the Claremont-Bathgate area with an 8.4% drop, equaling a $200,000 price drop in the neighborhood.
Read the full report at realtyhop.com.