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Real estate is local. Hard to conclude much from a single (desirable) area. Scroll down to the two tables at the bottom in this link to compare metro areas: h
by GlibMonkeyDeath 1y ago
Real estate is local. Hard to conclude much from a single (desirable) area.
Scroll down to the two tables at the bottom in this link to compare metro areas:
https://www.realtor.com/research/march-2025-data/ https://www.realtor.com/research/march-2025-data/
Sure, NYC metro is up 10%, but the median price ($780k) is still far from LA/Orange County (an eye-watering $1.2 M median) and San Jose/Sunnyvale at $1.4 M.
Cleveland and Buffalo are at ~$250k median though...and they are technically "coastal" cities :)
- acchow 1y agoWhat about $/sqft? Or $/acre of actual land?
- dylan604 1y agoHow does $/acre apply to NYC?
- nine_k 1y agoCould apply to some areas of Brooklyn and Queens.
- dylan604 1y agoAcreage in NYC isn't free, but in multistory condos where everyone is using the same acreage seems like that's not a fee that should even move the needle in prices. It's not like there's any acreage available for sale to even get a comp, so does $/acre even get discussed in NYC real estate?
- nine_k 1y agoIn this regard, acre/$ only makes sense in countryside and suburbia, or maybe in suburbia that pretends to be a city, like much of Houston. It should not apply to cities with their apartment buildings.
- acchow 1y agoEach unit effectively owns a percentage of the overall land under the building
- deleted 1y ago[deleted]