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Norwood and Bedford Park Home Prices
The data below shows median sales prices for Norwood and Bedford Park 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 Norwood and Bedford Park homes and apartments was $223,0801. 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 Norwood and Bedford Park
Compared to the 3 months ending December 2009, the combined median price for the 3 month period ending December 2010 is 19.84% lower.
The quarterly rolling median price for all homes and apartments in bronx reached its most recent peak of $415,000 in June 2007. At $223,080, the current quarterly rolling median price is now 46.25% lower. When the quarterly rolling median price hit its lowest point (to date) of $142,500 in January 2010 it was 65.66% off the most recent peak. It has since climbed 56.55% from that post peak low.
Quarterly Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined
History of Quarterly Rolling Median Sales Prices for the Last Year
| Month | Houses | CO-OPs | Condos | Combined |
|---|---|---|---|---|
| December 2010 | $400,000 § | $75,000 § | $295,328 § | $223,080 § |
| November 2010 | $400,000 § | $85,000 § | $295,328 § | $223,080 § |
| October 2010 | $398,708 § | $130,000 § | $365,040 § | $365,040 |
| September 2010 | $398,708 § | $111,500 § | $362,505 § | $362,505 |
| August 2010 | $398,708 § | $125,000 § | $362,505 § | $334,620 |
| July 2010 | $386,452 § | $77,500 § | $362,505 § | $235,000 |
| June 2010 | $417,000 § | $146,500 § | $362,505 § | $295,000 |
| May 2010 | $394,500 § | $79,000 § | $358,002 § | $339,250 |
| April 2010 | $390,000 § | $126,000 § | $358,002 § | $325,000 |
| March 2010 | $325,000 § | $120,000 § | $358,002 § | $210,000 |
| February 2010 | $305,000 § | $120,000 | — § | $181,014 |
| January 2010 | $251,250 § | $123,025 § | — § | $142,500 |
| December 2009 | $350,000 § | $130,525 § | $299,130 § | $278,280 |
12 Month Rolling Home Price History for Norwood and Bedford Park
The 12 month rolling median price for all homes and apartments in bronx reached its most recent peak of $346,870 in June 2006. At $255,000, the current 12 month rolling median price is now 26.49% lower. When the 12 month rolling median price hit its lowest point (to date) of $181,292 in September 2009 it was 47.73% off the most recent peak. It has since climbed 40.66% from that post peak low.
12 Month Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined
History of Rolling Median Sales Prices for the Last Year
| Month | Houses | CO-OPs | Condos | Combined |
|---|---|---|---|---|
| December 2010 | $397,415 | $120,000 | $362,505 § | $255,000 |
| November 2010 | — § | — § | — § | — § |
| October 2010 | $380,000 | $122,500 | $362,505 § | $233,375 |
| September 2010 | $390,000 | $125,000 | $353,500 § | $270,000 |
| August 2010 | $393,708 | $125,000 | $351,750 § | $250,000 |
| July 2010 | $393,750 | $120,000 | $350,000 § | $235,000 |
| June 2010 | $393,750 | $123,025 | $350,000 § | $231,750 |
| May 2010 | $400,000 | $120,000 | $324,565 § | $240,000 |
| April 2010 | $398,750 | $125,000 | $324,565 § | $210,000 |
| March 2010 | $397,500 | $122,500 | $324,565 § | $190,500 |
| February 2010 | $400,000 | $125,000 | $299,130 § | $189,172 |
| January 2010 | $400,000 | $125,000 | $299,130 § | $190,500 |
| December 2009 | $406,750 | $135,000 | $299,130 § | $228,714 |
Norwood and Bedford Park 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 Norwood and Bedford Park 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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