HOUSING BLOCK

Closings, home prices up a bit in the Bronx

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It‘s a good time to sell a home in the Bronx.

Closed sales skyrocketed more than 47 percent in October compared to last year, with more than 150 pieces of residential property switching hands. That pushed median sales prices up 3 percent, according to the New York State Association of Realtors, to $455,000.

While that’s higher than most other parts of the state, it’s not so high when you stay within the New York City metropolitan area. Queens, for example, boasted a median price of $685,000 — up 5 percent — while Staten Island homes grew 11 percent to $639,000.

The median price in Brooklyn kicked up nearly 7 percent to $662,000, and there was nothing to compare from Manhattan since, as usual, the association didn’t share any details of transactions there.

Some smaller counties like Hamilton and Herkimer experienced median home price jumps of up to 60 percent, but was based on only a few dozen sales — which declined in both counties year-over-year in October.

Of the larger more metropolitan areas, Niagara County has the biggest boost to median sales prices, jumping nearly 21 percent to $193,000. That’s despite closings dropping 11 percent, while new listings climbed 24 percent.

Statewide, median prices rose 10 percent year-over-year to $370,000. Closings fell for the second straight month — after more than a year of gains — to just under 14,000, while new listings also were down statewide by 16 percent.

Median sales prices for the year have jumped 23 percent compared to 2020, starting January at $300,000.

 

NYCHA’s heating season has begun

As temperatures begin to cool and summer has long sailed away, the New York City Housing Authority has turned on the heat. It’s an annual process that typically starts Oct. 1 and continues through the end of May.

NYCHA officials say unlike years past, this year they’ve been working throughout the summer to try and ensure all of its public housing heating systems are in good working order.

“NYCHA fully understands the impact that heating outages have on residents, which is why we work throughout the year to prepare for the cold weather,” said Vito Mustaciuolo, NYCHA’s chief operating officer, in a release.

All New York City-owned buildings are required to maintain an indoor temperature of at least 68 degrees between the hours of 6 a.m. and 10 p.m., on days when the temperature outside hits below 55 degrees. During those same hours on any given day, NYCHA said the indoor temperature of all of its buildings should never be less than 62 degrees, regardless of the temperature outside.

In addition, hot water must remain at 120 degrees — minimum — throughout the year.

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