West Harlem is StreetEasy’s No. 1 neighborhood to watch in 2018
This marks the first time a Manhattan neighborhood has ranked first in the real estate marketplace’s prediction history.
West Harlem, all eyes will be on you in 2018.
The neighborhood made up of Morningside Heights, Manhattanville and Hamilton Heights has claimed the top spot in StreetEasy’s newly released “Neighborhoods to Watch in 2018” list.
West Harlem, which saw “tremendous” growth in sales prices this year and boasts easy access to several subway lines and other transportation options, also holds the distinction of being the first Manhattan neighborhood to rank first in the real estate marketplace’s prediction history.
The Top 10 is rounded out by Fort Greene, Flushing, Elmhurst, East New York, Norwood, Prospect Park South, Chinatown, Brighton Beach and Woodside.
“Neighborhoods like West Harlem, Woodside and Prospect Park South, which have long been outshined by their popular neighbors, are finally taking the spotlight in 2018,” said Grant Long, senior economist for StreetEasy. “As New Yorkers seek to balance affordability with convenience, these nearby neighborhoods are seeing a surge of interest, growing prices and an influx of new development.”
StreetEasy releases this annual list every December to predict the areas of New York City that renters, buyers and sellers should keep a close eye on for an uptick in interest and prices.
The company uses four key components to compile “Neighborhoods to Watch:” the yearly change in both median sales and rent prices, listing views on its website and new certificates of occupancy that were filed with the city, which indicates the completion of a new construction.
Both West Harlem and Chinatown have seen steep increases in home prices, but modest upticks in rental prices which could indicate that, amid frequent subway issues and the L train shutdown coming in 2019, New Yorkers are looking for more centrally located areas in Manhattan, StreeEasy predicted.
1. West Harlem
2. Fort Greene
5. East New York
7. Prospect Park South
9. Brighton Beach