West Village Had The 5th Most Home Price Drops In NYC Last Month

WEST VILLAGE, NY — The West Village saw the fifth most drops in home prices last month of any New York City neighborhood, according to a new report.

According to the study by RealtyHop, 106 homes within the West Village neighborhood saw their listed prices drop in November.

The more than 100 West Village homes saw their prices drop by an average of $60,500.

Here are the five neighborhoods in New York City that had the most price drops during the month:

1. Upper East Side (59th to 96th streets between Fifth and Third Avenues): 171 homes dropped in price
2. Upper East Side (Turtle Bay-Midtown East Area): 159 homes dropped in price
3. Upper East Side (Lenox Hill-Roosevelt Island): 133 homes dropped in price
4. Upper West Side (72nd to 106 streets between Riverside and Central Park West): 108 homes dropped in price
5. West Village: 106 homes dropped in price

While the Upper East Side saw the most price drops, it didn't have the steepest. That honor belongs to Brownsville, Brooklyn, where home prices dropped by a median of 8.4 percent, or about $101,000.

The highest median price drops by dollar amount, meanwhile, were in the SoHo-TriBeCa-Civic Center-Little Italy area, where home prices declined by a median of $222,500. In second place was the Upper East Side-Carnegie Hill area, which saw a median $120,000 decline.

You can check out the full RentHop study here.

Patch reporter Nick Garber contributed to this report.