East Harlem 1 Of 2 Manhattan Nabes To See Home Sales Increase: Study

EAST HARLEM, NY — East Harlem was one of just two neighborhoods in Manhattan to see home sales increase in the first quarter of 2023 when compared to same period the previous year.

A new study by PropertyShark found that a staggering 193 of 215 neighborhoods across the city saw its number of home sales drop in 2023 when compared to 2022.

Even more extreme was the situation in Manhattan, where 35 of the 37 neighborhoods saw home sales decrease in the first quarter of 2023 vs. 2022, according to the study.

One of the two neighborhoods that saw home sales increase in the first quarter of 2023? East Harlem.

Here are the numbers, according to PropertyShark.

East Harlem

• # Of Sales Q1 2022: 30
• # Of Sales Q1 2023: 33
• YoY Change: +10 percent
• Median Sale Price Q1 2022: $772,794
• Median Sale Price Q1 2023: $672,000
• YoY Change: -13 percent

A total of three more East Harlem homes were sold in the first quarter of this year than the same period in 2022.

The price of those homes also went down in 2023, with the median cost in East Harlem dropping by $100,000.

How Does That Compare To The Rest Of Harlem?

The rest of Harlem saw a significant decrease in home sales during the first quarter of 2023, according to the PropertyShark study.

There were double the amount of home sales in Harlem during the first three months of 2022 than during the same period in 2023.

• # Of Sales Q1 2022: 242
• # Of Sales Q1 2023: 109

It is an eye-catching 55 percent decrease in the amount of Harlem home sales for the period this year.

With that being said, the price of those sales that did take place in 2023 are also significantly cheaper than those in 2022.

• Median Sale Price Q1 2022: $779,326
• Median Sale Price Q1 2023: $650,00

That's a difference of roughly $130,000.

You can check out the full PropertyShark study for yourself — HERE.