Cobble Hill Real Estate: 'A Very Hot Market'

The Journal did a neighborhood spotlight on Cobble Hill, calling it “one of the most competitive neighborhoods in Brooklyn to buy residential property. When the rare townhome hits the market, it tends to get bought up quickly. Large three-bedroom condos are also quick sellers.” Brokers are talking bidding wars, and Meryl Blackman of Halstead calls Cobble “a very hot market.” The neighborhood’s many strengths mentioned in the article are not exactly a secret: Beautiful housing stock, good schools, decent retail and restaurants, leafy streets, proximity to good transit, etc. And, finally, here are the stats regarding current prices: “The current median asking price for Cobble Hill homes is $875,000 according to real-estate site StreetEasy. In Boerum Hill to the east it is $968,000 million, and in Brooklyn Heights to the north, it is $825,000 according to StreetEasy. Asking prices for townhomes in Cobble Hill can range from $1.5 million up to $4 million, brokers say. But prospective buyers often can expect to pay above the asking price as closing prices for brownstones are approaching prerecession levels.”
Cobble Hill Enclave Is Fast-Moving Market [Wall Street Journal]