It's no secret that real estate prices in New York City have gone from "expensive" to "maddeningly over-the-top pricey" in the past decade—heck, in the past few years, in certain neighborhoods—but sometimes, it takes seeing the data mapped out in front of you to really drive home precisely how gaga home prices have gotten. To that end, PropertyShark recently released a new mapping tool, using its sales data from the past decade, to calculate how the median home price for neighborhoods in four of the five boroughs (sorry, Staten Island) has changed from 2004 to 2014. The difference, as you can probably imagine, is staggering in many places.
Some interesting points to glean from this:
· The biggest price increases were in Brooklyn: They've gone up a whopping 320 percent in East New York, with other big jumps in Williamsburg (260 percent), Fort Greene (126 percent), Boerum Hill/Carroll Gardens/Gowanus (92 percent), and Bushwick (85 percent).
· But on the flip side, prices in Red Hook dropped by 22 percent, perhaps thanks to the post-Sandy hesitancy over living close to floodlines.
· Similarly, home prices in Howard Beach and the Rockaways also, for the most part, dropped.
· Harlem and East Harlem saw big jumps, of 102 percent and 80 percent, respectively.
· Long Island City and "Hunter's Point" (still LIC, but whatever) also increased substantially: 110 and 132 percent, respectively.