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Here’s a look at which New York City neighborhoods are the best for buyers

The Empire State
Photo via Getty Images

While real estate inventory is growing in New York City, some neighborhoods are better than others if you want to negotiate a price as a buyer.

A new report from StreetEasy sought to find out which neighborhoods in New York City were the best based on your budget and where you had a better shot at negotiating the price. The report broke down the neighborhoods into three price points: under $700K, between $700K and $1M, and above $1M, and also took a look at the sales-to-list ratios, which tracks how much negotiating power a buyer has in that market.

According to their findings, in the under $700K bracket Queens’ Rego Park was one of the top buyers market for the price point with a median sales price of $429,999. With a sales-to-list ratio of 95%, this gives buyers more room to negotiate the price. Similarly, Brooklyn’s Brighton Beach and Sheepshead Bay have sales-to-list ratio of 94% and 93%, respectively — however, the median prices are higher with $619,500 in Brighton Beach and $699,000 in Sheepshead Bay.

Under $700K category, Brooklyn’s East Flatbush and Queens’ Jackson Heights both have a 97% sales-to-list ratio. However, Jackson Heights has a lower median price — $459,000 compared to East Flatbush’s $649,000.

In the between $700K and $1M section, Manhattan’s Midtown East neighborhood had the highest median price at $899,000. The neighborhood has a 94% sales-to-list ratio, so prices can be more negotiable. Brooklyn’s Bay Ridge also had a 94% sales-to-list ratio, but a lower median price at $739,000.

Two Queens neighborhoods, Bayside and Flushing, plus Brooklyn’s Gravesend, each have a 93% sales-to-ratio. They each had a median price in the 700K-800K range: Bayside had $717,000, Flushing had $786,668  and Gravesend had $799,000.

One of the top buyers markets in the over $1M price bracket was the Financial District in Manhattan. The neighborhood had a median price of $1,335,000 and a 93% sales-to-list ratio. Two other Manhattan neighborhoods, Tribeca and the Upper East Side, had 93% sales-to-list ratios, but drastically different median prices: Tribeca’s was $3,995,000, which is more than double than the Upper East Side, which was $1,535,000.

Two other Manhattan neighborhoods were among the top buyers market neighborhoods prices at $1M or more — Battery Park City and Midtown, with median sales prices of $1,197,000 and $1,850,000, respectively. Prices in Midtown were more negotiable; the sales-to-list ratio in Midtown measured at 90% compared to Battery Park City’s 92%.

Read the full report at streeteasy.com.

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Brownstoner is hosting a panel for prospective buyers called “What First Time Home Buyers Need to Know: Brooklyn” at the Brooklyn Historical Society, located at 128 Pierrepont Street, from 6 to 8 p.m. on March 12. Beer, wine and light bites will be served. Tickets are $10. Click here to RSVP.