Wash Heights Home Sales Skyrocket Amid Manhattan Surge: Study

WASHINGTON HEIGHTS, NY — The seasons are changing in New York City, and it looks like the real estate market in Washington Heights is doing the same compared with the lows seen during the height of the pandemic, according to a new study.

In Washington Heights, the number of apartment sales nearly tripled during the third quarter of 2021 compared to the same time last year, according to a new market report by real estate firm Douglas Elliman.

A total of 25 condominiums and co-ops were sold in Washington Heights last quarter — up from just 11 last quarter, and 10 during the same period last year.

The average home sales price in Washington Heights also saw a major increase, going from $484,410 during the same period last year, to $566,200 in the second quarter of this year, to $640,780 in the most recent quarter.

"All the suburbs were booming while Manhattan was seeing sales at half the normal rate last year," the report's author, Jonathan J. Miller, told the New York Times. "Now we're seeing this massive surge."

Here is the Q3 market report breakdown for Washington Heights:

• Average Co-Op & Condo Sales Price: $640,780 (+25 percent from last year)
• Average Price per Sq Ft: $688 (+23 percent from last year)
• Median Sales Price: $550,000 (+24 percent from last year)
• Number of Sales (Closed): 25 (+150 percent from last year)

A similar trend in home sales was also seen in Harlem.

A total of 55 condominiums were sold in Harlem last quarter — up from just 35 last quarter, and 22 during the same period last year.

Across Northern Manhattan, meanwhile, the average home sale price set a new record in the third quarter, along with the total number of listings.

Read the full Northern Manhattan market report here, and the Manhattan-wide report here.

Patch reporter Nick Garber contributed to this report.