What's hot and what's, well, not so hot in New York City always seems to be changing. One way of following what neighborhoods are on the up and which are falling on the 'cool' scale is to see where home prices are rising the most in the city.
The New York Times analyzed the median sales prices of homes in various neighborhoods between March and August and put together a list of the top five neighborhoods with the biggest percentage increases, and the bottom five neighborhoods with the biggest decreases.
The Rockaways stole the show with a 38% increase in median sales price over six months, with prices rising from $387,206 to $535,000. Murray Hil, Brooklyn Heights, and Forest Hills all posted increases above 20%.
On the other end, Howard Beach and Harlem saw the biggest declines at 18% and 17%, respectively. Midtown East, Wakefield, and Bay Ridge also saw significant declines in just six months.