Crain’s created an interactive Google Map of home sales prices across all five boroughs and came up with some slightly surprising results: Brownsville, Dyker Heights and Ocean Hill saw the largest increases in median sales prices. In the third quarter, homes were selling at more than twice the price than they did in the same period the year previously in all three neighborhoods, according to Crain’s. Above, a community garden at the corner of Decatur and Thomas Boyland in Ocean Hill.
Across all the boroughs, 14,073 homes sold in the three months ending September 30, an increase of 28 percent from a year ago and 33 percent from last quarter. But despite the big rise in sales volume, median sales prices stayed relatively stable throughout the city, increasing only 4 percent in the past year to $515,000. The data is based on a report from The Real Estate Board of New York that came out Tuesday.
In Brooklyn, Bed Stuy led with the most number of transactions, a total of 250 in the quarter. Park Slope was hot on its heels with 230 transactions. Next were East New York with 167, Gravesend with 165, Bay Ridge with 157, and Bushwick with 139. What do you make of the increase in median price and sales activity in these areas?
3Q Home Sales Volume Jump [Crain's]