Market Snapshot: Ditmas Park

Our friends at PropertyShark once again complied neighborhood data to provide a market snapshot of Ditmas Park. The boundaries used were Church Avenue to Avenue H and Coney Island Avenue to Bedford Avenue. Needless to say, the numbers are all over the place, but there’s no denying a general appreciation of apartment prices in the neighborhood.
Condos and Co-ops: The median sales price in the first quarter of 2005 was $135,777. By the last quarter of 2005 it rose to $223,209. The market peaked in the later half of 2010, with prices hitting as high as $491,465. The second quarter of 2012 looks a lot like 2010: prices, on a steady increase, came in around $446,250.
Houses: It’s hard to track a trend concerning the median sales prices of one- to three-family homes in Ditmas Park because the volume is so low. Property Shark recorded the highest median price in the first quarter of 2012, hitting $1.1 million. The market was at its lowest in the third quarter of 2011, when the median price was $590,000. Since 2005, a total of 467 homes have closed at a median price of $835,000.
Most Expensive Streets and Sales: The most expensive street in the nabe is Buckingham Road. Since 2005, four sales were recorded at a median price of $1.4 million. Second in the running is Ditmas Avenue. Since 2005, six sales were recorded at a median price of $1.1 million. The most expensive sale in the neighborhood since 2005 goes to the single-family at 484 East 17th Street. It sold in June 2007 for $1.9 million.
Lowest/Highest on the Market: The cheapest property on the market is a co-op at 1170 Ocean Parkway, Unit #9A. Ask: $89,900. The most expensive property now on the market is a landmarked one-family home at 114 Westminster Road, asking $2,349,999.

3 Comment

  • Your data is really confusing when paired with the map – were the 467 homes just in Ditmas Park? If you are focused on Ditmas Park, the cheapest coop can’t be on Ocean Parkway, since that’s either in Kensington or Midwood.

    Similarly, if you have data for 4 neighborhoods why not tell us about the other 3?

    Lastly, I don’t like the boundaries – Prospect Park South should terminate at Beverly Road, not Caton Avenue, and Ditmas Park should end at Ocean Avenue, not Bedford.

    • Lalaland – we use rough, simple neighborhood boundaries just to get a general market snapshot. The data on the graphs only comes from those boundaries mentioned: Church, Ave H, Coney Island, and Bedford.

      You’re right, the co-op on Ocean Parkway is in Midwood, and I’m not sure how it ended up in Property Shark’s data. I will look into it.