LES Home Prices Doubled In Past 4 Years, Data Shows

LOWER EAST SIDE, NY — Homes are getting more expensive on the Lower East Side.

The median sales price since 2015 on the Lower East Side has risen above Battery Park City, Chelsea and the West Village, new data shows.

The neighborhood's median sales price of a home was $655,000 in 2015.

That has doubled to a whopping $1.31 million, according to a new report from StreetEasy released Thursday.

Lower East Side saw one of the steepest jumps compared to other neighborhoods in New York City — rising from 57th to 14th place for the cost of a home in just four years.

The real estate listings website attributed the price increases to a high volume of new buildings. Many of the new developments are expensive condos, shows an October 2018 map of developments in the works or already on the market from Curbed.

StreetEasy ranked New York City's neighborhoods based on median recorded sales prices from 2015 to 2019.

StreetEasy found the steepest price spike in Gramercy Park, Ditmas Park in Brooklyn, Roosevelt Island and the Lower East Side. The report also found some of the priciest neighborhoods saw prices decline — like Battery Park City, the West Village, and the Financial District.

But some neighborhoods haven't changed much.

Tribeca, Nolita and SoHo made the top three — with median sales prices at $4.1 million, $3.01 million, and $2.7 million in 2019, the report shows.

In Tribeca specifically, median sales prices rose by 29 percent, which StreetEasy attributed to 30 Park Place and 56 Leonard going online in recent years.

See where your neighborhood stands on the StreetEasy analysis here.