Instant Access to Brooklyn Neighborhood Real Estate Data

Sponsored By Compass Markets

Compass Markets is the first real-time real estate data app, providing customizable market insights anytime, anywhere.

Created By BlankSlate

When it comes to real estate, knowledge is power. But it can be pretty hard to keep up with Brooklyn real estate trends. How much are people paying for two-bedroom condos in Brooklyn Heights? Three-bedroom co-ops in Gowanus? Most real estate professionals refer to quarterly reports, but who’s going to carry those around with them when they’re house-hunting?

The Compass Markets app for the iPhone gives industry professionals and consumers portable, easy access to all these numbers. In a couple of clicks, users can pull up insights from the real estate industry’s quarterly market reports from their phones, allowing them to compare prospective sales with current trends.

And by current, we mean up to the minute. Compass Markets data is updated not every three months, but constantly. You can instantly compare real-time data with sales histories from the past five years, allowing you to see where a neighborhood has been, where it is now, and where it’s headed. (Spoiler alert: the answer is probably up.)

We took some time to put the app through its paces, and so far we like what we see.

The various filters and a simple, intuitive design make the app shockingly easy to use. The app is free, first of all, and the sign-up is quick and painless. Right away you’re given a menu of neighborhoods in Brooklyn, Manhattan, and Queens (just Astoria and Long Island City). Once you choose a neighborhood, you’re given a top-line report for the latest quarter.

I chose my neighborhood, Windsor Terrace. The median sale price for Q3 2015 was $1,050,000, up 51.1% over the same time last year. The median price per square foot is $744, and there were 60 total listings. By clicking on median price, I’m instantly taken to the breakdown by category, with a bar chart showing prices since 2010.

By clicking on any of the sub-categories — co-op or condo, number of bedrooms, price ranges — the bar chart instantly adjusts and I’m given the new figures. For a two-bedroom apartment in my neighborhood, the median price is $809,000, up 20.3% from last year. In 2010, it was $569,000. (Why didn’t I buy back then again?)

And if you’re wondering how much wiggle room you might have on the prices, you can even check neighborhood trends on median negotiability. For Windsor Terrace 2-bedrooms, the median negotiability is 9.4%, much better than last year. I can now give this information to my wife, because I am the world’s worst haggler.

Bottom line: you don’t need to be an expert to have all this information at your fingertips. Whether you’re a real estate professional, an active home shopper, or just someone curious about Brooklyn real estate trends, the free Compass Markets app is easy and even fun to use. It’s the latest in a line of technologies that Compass has developed to make the process of buying and selling a home intelligent and seamless. You can learn more about Compass at their website.