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Mott Haven and Port Morris Home Prices

The data below shows median sales prices for Mott Haven and Port Morris Bronx homes, co-ops and condos as determined from New York City property records in December 2010. For the 3 months ending December 2010, the median sales price for all Mott Haven and Port Morris homes and apartments was $247,5001. A history of quarterly median sales prices is below. For a less volatile look at pricing, see the 12 month rolling median price data. Affordability based on income and recorded home sales is also calculated.

Quarterly Rolling Home Price History for Mott Haven and Port Morris

Compared to the 3 months ending December 2009, the combined median price for the 3 month period ending December 2010 is 29.29% lower.

The quarterly rolling median price for all homes and apartments in bronx reached its most recent peak of $687,860 in February 2009. At $247,500, the current quarterly rolling median price is now 64.02% lower. When the quarterly rolling median price hit its lowest point (to date) of $119,500 in October 2009 it was 82.63% off the most recent peak. It has since climbed 107.11% from that post peak low.

Quarterly Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined

quarterly median sales prices in Mott Haven and Port Morris for houses, co-ops, condos and combined properties

History of Quarterly Rolling Median Sales Prices for the Last Year

Month Houses CO-OPs Condos Combined
December 2010 $247,500 § — § — § $247,500 §
November 2010 $240,000 § — § — § $240,000 §
October 2010 $196,000 § — § — § $196,000 §
September 2010 $212,000 § — § — § $212,000 §
August 2010 $238,500 § — § — § $238,500 §
July 2010 $320,000 § — § — § $320,000 §
June 2010 $350,000 § — § — § $350,000 §
May 2010 $350,000 § — § — § $350,000 §
April 2010 $252,500 § — § — § $252,500 §
March 2010 $362,700 § — § — § $362,700 §
February 2010 $400,000 § — § — § $400,000 §
January 2010 $410,000 § — § — § $410,000 §
December 2009 $370,000 § $35,000 § — § $350,000 §

12 Month Rolling Home Price History for Mott Haven and Port Morris

The 12 month rolling median price for all homes and apartments in bronx reached its most recent peak of $480,000 in December 2007. At $240,000, the current 12 month rolling median price is now 50.00% lower. This is the lowest value for the 12 month rolling median price since the December 2007 peak.

12 Month Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined

12 month rolling median sales prices in Mott Haven and Port Morris for houses, co-ops, condos and combined properties

History of Rolling Median Sales Prices for the Last Year

Month Houses CO-OPs Condos Combined
December 2010 $240,000 § — § — § $240,000 §
November 2010 — § — § — § — §
October 2010 $300,000 § — § — § $300,000 §
September 2010 $300,000 § $35,000 § — § $270,000 §
August 2010 $350,000 § $35,000 § — § $295,000 §
July 2010 $350,000 § $40,000 § — § $350,000 §
June 2010 $360,000 § $40,000 § $545,374 § $355,000 §
May 2010 $355,000 § $40,000 § $545,374 § $350,000 §
April 2010 $350,000 § $45,000 § $545,374 § $350,000 §
March 2010 $360,000 § $45,000 § $545,374 § $350,000 §
February 2010 $360,000 § $45,000 § $497,034 § $355,000 §
January 2010 $361,000 § $45,000 § $497,034 § $360,000 §
December 2009 $361,000 § $45,000 § $497,034 § $360,000 §

Mott Haven and Port Morris Home Affordability

In 2007, the median household income in Bronx was $32,4092. Home affordability guidelines suggest that no more than 30% of household income be spent servicing a home loan. For the median Bronx household, this would have meant that a monthly mortgage payment should not have exceeded $810 using the 2007 average mortgage rate of 6.34%3. Combining this with 2007 property sales records, we can calculate that the median income household could have potentially afforded approximately 18.28% of the homes and apartments sold in Mott Haven and Port Morris in all of 2007.

1. All sales metrics are calculated from NYC Rolling and NYC Annual property sales. Metrics derived from rolling data are preliminary as some sales take months to report. ↩

2. Affordability data, including median income by borough, are calculated from metrics in the NYC Datamine Economic and Housing Profile datasets. ↩

3. Average mortgage rates are from Freddie Mac Primary Mortgage Market Survey Archives and do not include points. ↩

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