Market Snapshot: Ditmas Park

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    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.


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