StreetEasy recently analyzed search trends on its platform to identify the New York City neighborhoods gaining popularity among buyers and renters. With rising prices in Manhattan pushing some people out, many are exploring more affordable options across the city. In fact, Brooklyn and Queens are expected to dominate the market in 2025. Of the Top 10 “neighborhoods to watch” identified by StreetEasy, six are in Brooklyn, three are in Queens, and only one is in Manhattan.
According to StreetEasy economist Kenny Lee, “Both buyers and renters are prioritizing home amenities more and more, suggesting demand is likely to rise in neighborhoods where new developments are abundant but offered at lower price points than in Manhattan.” Leading the list is Ridgewood (Queens), which saw a 13.2% increase in searches over the past year. Greenwood (Brooklyn) and Long Island City (Queens) ranked second and third with search spikes of 9.0% and 8.5%, respectively.
Rounding out the Top 10 are Sunnyside, Queens (ranked #4), followed by a strong Brooklyn presence with Windsor Terrace, Fort Greene, Prospect Heights, Crown Heights, and Prospect Lefferts Gardens taking spots five through nine. Manhattan’s sole entry, Morningside Heights, on the far Upper West Side placed tenth with a 5.8% rise in StreetEasy searches.
The median asking prices in these neighborhoods range from $429,000 in Sunnyside to $1,622,000 in Fort Greene. Meanwhile, PropertyShark has released its annual (separate from the quarterly reports I typically cover) ranking of the 2024 Top 50 Most Expensive Neighborhoods in NYC.
Hudson Yards retained the #1 spot for the sixth consecutive year, setting a new record with a $7.13M median annual sale price. Tribeca and Soho followed in second and third place. The top 10 list included six Manhattan neighborhoods and two in Brooklyn.
Interestingly, despite a 22% year-over-year price increase, Hudson Yards experienced nearly a 50% drop in sales volume. Tribeca also saw a 17% decline in sales despite a 12% jump in median price. The steepest decline in median sales price occurred in Central Park South, which fell 25% to $2.61M—though it still remained in the Top 5.
Overall, Manhattan continues to dominate the top 50 most expensive neighborhoods, with Brooklyn following closely behind and Queens claiming 10 spots. Notably, PropertyShark’s 2024 list includes 58 locations due to multiple price ties.
If there’s a neighborhood you’ve been eyeing—or if you’d like insight into the value of your current home—let’s connect. I’d be happy to share information tailored to your buying or selling goals.