Washington Heights, Inwood Home Prices On The Rebound: Report

WASHINGTON HEIGHTS — New York City's home sales market is on the rebound — and Washington Heights and Inwood are keeping pace.

The citywide market rebound is due to a surge in demand for the second quarter, and near record low mortgage rates, according to a new report from StreetEasy. In addition, the city is one of the few places in the country that are still experiencing a surplus of for-sale inventory.

Here's what the housing market looks like in Washington Heights:

The average asking price for homes in Washington Heights was $529,000, up more than three percent compared to the previous quarter.

The average rent in Washington Heights was $2,100, down nearly 6 percent.

The average recorded sales price for homes in Washington Heights was $526,227, down up more than 12 percent.

According to Street Easy, total sales inventory in Washington Heights was 180 in June of this year, compared to 134 in June 2020.

Here's what the housing market looks like in Inwood:

The average asking price for homes in Inwood was $409,000, down more than one percent compared to the previous quarter.

The average rent in Inwood was $1,850, down more than 7 percent.

The average recorded sales price for homes in Inwood was $437,750, up more than 9 percent.

According to Street Easy, total sales inventory in Inwood was 50 in June of this year, compared to 33 in June 2020.