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Apartments in the Bronx
The Bronx Borough
includes affluent, upper-income, and middle-income Bronx apartments in neighborhoods such as Riverdale, Fieldston, Spuyten Duyvil, Schuylerville, Pelham Bay, Pelham Gardens, Morris Park, and Country Club.
Bronx apartments come in many forms, shapes, prices and sizes. If you are looking to buy, sell or rent Bronx apartments, you may want to start your search in the many open houses that take place on Sunday. Bronx apartments and homes are notorious for being featured in many Hollywood movies. The Godfather, A Bronx Tale and Fort Apache to name a few.
In the last few years Bronx prices have been rising steadily. Average sales price of a home in New York City during the fourth quarter of 2018 was $938,000, a two percent increase from the fourth quarter of 2017, according to the Real Estate Board of New York.
Believe it or not, the Bronx is becoming a hot area to live in. The borough has experienced a steady climb in housing costs and development. Realtors have recently nicknamed the Bronx "SoBro," because it's a great option for those who want to live in Manhattan and Brooklyn but can't afford their prices.
More and more people priced out of the other boroughs are moving to the Bronx and choosing neighborhoods along the Grand Concourse due to the convenient access it offers to Manhattan. lthough 10 years ago new residential development was pretty much flat, investment activity really picked up after 2015.
From 2014 to 2018, the median home sale price rose from $125,000 to $222,000, up 77.6%. Although seeing almost an 80% surge in 5 years, in 2016 and 2017 prices actually dipped, with a substantial 85% increase taking place in 2018.