The old adage, “What goes up, must come down,” most definitely applies to the New York City housing market today.

Take a look at what’s been happening to prices in targeted neighborhoods in both Manhattan and Brooklyn during the last year between Q3 2018 and Q3 2019:

Manhattan:

– Garment District              -36%

– Soho                               -35%

– TriBeCa                            -30%

– Chelsea                            -24%

– Upper West Side                -18%

– Central Midtown                 -11%

– Times Square                     -9%

– Hell’s Kitchen                     -9%

– East Village                       -9%

– Financial District                -9%

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Brooklyn:

– Dumbo                            -27%

– Prospect Heights              -27%

– Fort Greene                      -21%

– Borough Park                   -18%

– Greenwood Heights            -17%

– Brooklyn Heights                -14%

– Boerum Hill                         -13%

– Windsor Terrace                  -11%

– Crown Heights                     -8%

– Manhattan Beach                  -7%

Source data from Miller Samuels Appraisers.

Also read: Median Home Prices Jump +8% in Q3 2019, Top 10 Metros with Highest Home Seller Gains, Housing Affordability Hits African Americans Hardest