Brooklyn Is the Capital of New York’s Sellers’ Market

Brooklyn Is the Capital of New York’s Sellers’ Market

The seller's market in New York City continues to roll, with the brisk home sales in the third quarter of the year only being an indication of this: Houses sold according to a. a week faster than in the third quarter of 2019 (before the pandemic). current study by StreetEasy. The average sale-to-list ratio, which shows how close asking prices are to closing prices, found that homes across town sold at a median of 96 percent of their asking price, up from 92 percent a year ago.

StreetEasy researchers also dug through every listing and sale from January through September 2021 to find the 10 New York neighborhoods where sellers had the greatest advantage. They added 20 neighborhoods to the list for the New York Times, as shown in this week's graphic.

Brooklyn dominated the list with nine-quarters in the top 10 and 18 in the top 20. (The Rockaways and Ridgewood, both in Queens, were the only outliers.) Average retail prices ranged from 96 to 100 percent of asking prices, little scope for buyers.

The vendors in Cobble Hill were particularly happy. Among the top 20 neighborhoods, prices were the least likely and the quickest to sell (at the same time as Downtown Brooklyn). Only Dumbo and Carroll Gardens had higher average sales prices.

To achieve the ranking, StreetEasy analysts examined four data points: the average number of days on the market; the proportion of price cuts; the change in the number of inquiries about real estate compared to the previous year; and the above median sales to list price. Neighborhoods with fewer than 100 entries were not taken into account. This week's chart shows New York City's top 20 vendors' market districts, the average days in the market, and the average selling price for each.


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