Trendy Brooklyn’s High Prices Pushing Buyers Deeper Into Borough and Queens

July 24, 2024 | admin

(DNAINFO)  Amy Zimmer | January 14, 2016 — In the last quarter of 2015, high prices and limited inventory in many of Brooklyn’s trendiest neighborhoods resulted in a “spillover effect” into parts of Queens and areas deeper into Kings County, real estate experts said.

With the median sales price of $915,000 in uber-desirable Brownstone Brooklyn — which includes Brooklyn Heights, Carroll Gardens, Fort Greene and Park Slope — and the median price for Northwest Brooklyn’s hip neighborhoods of Williamsburg and Greenpoint at $909,000, according to fourth-quarter data from Douglas Elliman, many house hunters are looking for more affordable alternatives.

Brokers said their clients are increasingly turning their attention to South Brooklyn — which includes areas such as Sunset Park, Bay Ridge, Midwood and Kensington — where the median sales price was $570,000 in the fourth quarter.

Source: Trendy Brooklyn’s High Prices Pushing Buyers Deeper Into Borough and Queens – Bay Ridge – DNAinfo.com New York

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