We can all agree the past year has been a tough one. It’s pretty much safe to say – nothing is the same as before. Well, that was one of the great quotes about life even before the pandemic – but you surely get it. As we’re nearing the end of the pandemic we are able to see what are and what will be the consequences of it. It has affected every single little particle of society. That being said – the housing market changed also. Of course, it all depends on which housing market are we talking about. Some markets rose and some collapsed. Since you’re reading this article you’re probably interested in Bronx real estate trends. You’ve come to the right place. In the text below find out what are the five things you (probably) didn’t know about Bronx real estate trends. Stay tuned for more info.
Median home price is climbing
After a little stop during the initial months of the pandemic, the median price for a home in the Bronx began climbing again. Since April 2020. the median sale price has surpassed $500k in five monthly statistics. It’s safe to say that the real estate market in the Bronx is on its feet once again. The Bronx had the sharpest market climb out of all NYC boroughs. Needless to mention it still remains the lowest-priced borough of New York City. So, things are going well for home-sellers in the Bronx. This borough of NYC has still yet to grow so there’s a good chance the prices will proceed to climb.
Rental prices (nearly) haven’t changed since last year
Looking through the data you’d notice something pretty interesting. It’s not a big discovery or something but it surely makes you ponder some of life’s most daring questions. We’re just kidding. Here’s the big info: Median rental prices in the Bronx changed less than a measly 1% when compared to last year’s pricing statistics. It’s great news for families renting out flats or the NYC student population. The Bronx is a very popular destination among folks on the lookout for affordable housing deals. It’s no wonder they’ll appreciate this status quo. We’ll see how will rental prices react to the end of the pandemic, which is getting near. There are also other things that haven’t changed during the last year. More about the subject in the next paragraph.
Moving around or to the Bronx is still a stress-free scenario
We’re not saying there’s a single reason behind the decision of many Newyorkers to move to the Bronx, but quality moving service providers in the neighborhood are certainly a big plus. Moving is a pretty stressful process. Maybe the lucky ones that still haven’t experienced frequent moving don’t know it yet, but it can cost you a couple of grey ones. The best way to make sure your stuff gets safely to the location of your new home is to hire professionals. Local moving teams in the Bronx are top-notch, there’s no doubt about it. If you’re thinking about moving to the Bronx at some point, don’t worry – experienced teams can help you with everything you desire. You’ll be all settled and ready to wander your new neighborhood in the blink of an eye.
Riverdale is blooming
More and more people are choosing this quasi-suburban neighborhood in the Bronx as the location of their new home. It should come as no surprise. Search it up on Google Images and you’ll easily see why. The neighborhood has everything an individual needs: the quietness of suburban areas and the closeness of the big city melting pot. In recent years Riverdale has exploded on the NYC housing market. By checking out the lists of the most beautiful NYC neighborhoods, you can clearly see Riverdale is in most of them. If you’re a suburbia lover but also a big city crowd bee – you’ll definitely enjoy Riverdale. Feel free to check out the guys at tiktokmoving.com and get a moving estimate on the house.
Fordham Landing – a major investment
You may have heard of this one. A large private investment by Connecticut-based Dynamic Star. Fordham Landing is one of the largest waterfront assemblages in New York City. If we’re to believe the investors – this is the first time Bronx residents will have access to Harlem River banks in their area. The project consists of both commercial and residential buildings, three acres of public open space, a half-mile waterfront walkway (from which people will access Harlem River), and affordable housing units. There are 3.5 billion dollars in the game, so it’s not child’s play. Hopefully, the Bronx residents will benefit greatly from this project. It surely deserves a spot on this list of five
A quick walkthrough at the end
We’ve come to the end of this article. So, that was that – five things you (probably) didn’t know about Bronx real estate trends. We’ve seen the median home prices in the Bronx are going up and there’s nothing stopping ’em from going higher. Good news for people looking for lower-priced rental units – rental prices haven’t changed during the last year, although there’s nothing guaranteeing it will stay like that in the period ahead of us. Let’s not forget quality movers in the area, making sure the flow of new residents runs steadily and without much stress. If you’re one of the potential Bronx residents – you’re in luck. You won’t lose a couple of grey ones over the moving process. There was Riverdale, a Bronx neighborhood with quite of a suburban vibe. It has become a hotspot for newcomers. Last but not least – there’s Fordham Landing, a project worth 3.5 billion dollars that will give Bronx residents a chance to walk alongside Harlem River right in their borough.