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The Bronx saw decreases in number of sales, new listings and overall inventory across the board in March, according to a report by the Hudson Gateway Association of Realtors (HGAR).
The number of single-family home sales in the Bronx dropped by 29.3% as the median sales price rose to $625,000 — a 6.8% uptick from 2023.
Co-op and condo sales also dropped by 28.6% and 11.1%, respectively.
Although sales for these homes have dropped, co-ops and condos have also gotten cheaper since this time last year. The median sales price for a Bronx co-op is now $205,000, marking a 2.4% decline; a Bronx condo now sits at a median sales price of $247,500, marking a significant 27% decline since 2023.
Single-family homes, condos and co-ops have all seen a fall in the number of new listings,a ccording to the HGAR report. Single-family home listings dropped by 31.5%, condos by 39% and co-ops by a smaller 11%.
Total Bronx inventory for all three home types also dropped significantly, with condos faring the worst at a 45.1% decline, according to the report. HGAR says there were almost 44% fewer single-family homes on the market and nearly 22% less co-ops.
Though sales, listings and inventory are all down in the Bronx this month, pending sales for all three property types are up by 30.3%, according to HGAR.
“The spring market is typically a more active time for both sellers and buyers, so we expect to see more sales activity in the coming months,” HGAR President Carmen Bauman said.
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