Property Class Analysis in NYC (2003-2023)

Each bar’s height corresponds to the relative average sale price within a property class, and the color intensity emphasizes the higher-priced classes. The chart highlights the hierarchy of property types based on their average sale price. For instance, "Office Buildings" and "Condominiums" are among the highest-priced categories, while property types like "Two-Family Dwellings" or "Vacant Land" rank lower. This ranking offers insight into the premium property types in NYC’s real estate market. Moreover, the visualization illustrates the diversity of property classes, emphasizing how certain categories dominate the market in terms of value. For example, the high average prices of office buildings reflect NYC’s status as a global business hub. Lower-priced property classes, such as "Vacant Land" and "Industrial Buildings," could indicate opportunities for developers or stakeholders seeking affordable investment options.