These were the Most Expensive NYC Neighborhoods in 2023

StreetEasy released its annual year in real estate review for 2023, with the total money spent on properties in New York City reaching $40,232,297,797.

This review is put together by a yearly study conducted that takes a look at the most-saved rentals, most-searched amenities, and the most expensive neighborhoods across the city.

In terms of the highest asking prices for homes in each neighborhood, SoHo came out as number 1 with the overall most expensive listing values and the average home price being $4,250,000. This is also the second year in a row that the Lower Manhattan area has been deemed the most expensive neighborhood according to sales. 

However, the ranking for priciest rentals has a different leading area. Tribeca was named the most expensive NYC neighborhood for rentals in 2023, with the average monthly rent price being $8,090. 

The highest ranked listing of all, however, was on Park Avenue, and was sold for a total of $65.6 million. Whereas the neighborhood with the largest increase in inventory was Flushing, Queens(19.7%). 

Here are some of the rankings published by StreetEasy: 

Busiest day of the year on StreetEasy:

January 29, 2023 (sales)

July 10, 2023 (rentals)

Day with most open houses:

May 21, 2023 (sales)
5,249 open houses

August 6, 2023 (rentals)
2,839 open houses

Sales: 2023

1. SoHo, Manhattan: $4,250,000

2. Tribeca, Manhattan: $3,950,000 
3. Nolita, Manhattan: $2,822,500
 
4. Flatiron District, Manhattan: $2,553,000
 
5. Carroll Gardens, Brooklyn: $2,395,000
 
6. Midtown, Manhattan: $2,300,000 (+4) 
7. Boerum Hill, Brooklyn: $2,295,000 (+5)
 
8. Little Italy, Manhattan: $2,272,500 (-1)
 
9. Red Hook, Brooklyn: $2,270,000 (-1)
10. Chelsea, Manhattan: $2,195,000 (-1)

Rentals: 2023

1. Tribeca, Manhattan: $8,090
 
2. DUMBO, Brooklyn: $5,695 (+1)
 
3. Flatiron District, Manhattan: $5,650 (-1)
 
4. SoHo, Manhattan: $5,350
 
5. Battery Park City, Manhattan: $5,240
 
6. Chelsea, Manhattan: $5,000
 
7. West Village, Manhattan: $4,900
 
8. Midtown, Manhattan: $4,800 (+1)
 
9. Midtown South, Manhattan: $4,700 (-1)
10. Greenwich Village, Manhattan: $4,695 (+1)

Inventory Trends

    1. Flushing, Queens: 19.7%


    2. Bensonhurst, Brooklyn: 16.8%

    
3. Tribeca, Manhattan: 14.1%

    
4. Morningside Heights, Manhattan: 9.1%

    
5. Woodside, Queens: 6.6%