As home-shopping season approaches, New York City is experiencing some decreases in prices. The 2020 market is expected to favor the buyer, but sellers have a chance to get close to what their home is worth should they decide to sell.
StreetEasy released a report that explored which neighborhoods in New York City where sellers have the upper hand. In these neighborhoods, sellers are more likely to see their home sell quickly and closer to their asking price.
According to StreetEasy’s findings, seven of the top ten neighborhoods were in Brooklyn. Crown Heights topped the list with a median price of $1,095,000. StreetEasy found that Crown Heights sellers got 97% of their initial asking price and only 2% of sellers cut their price last year.
The other six Brooklyn neighborhoods with the highest median prices were Clinton Hill ($977,500), Williamsburg ($1,300,000), Park Slope ($1,395,000), Downtown Brooklyn ($1,069,000), Brooklyn Heights ($1,549,500), and Prospect Heights ($1,246,500).
If you venture out side of Brooklyn, Gramercy Park in Manhattan saw a median price of $1,325,000. Two neighborhoods in Queens also made the top ten list — Forest Hills, which had a median price of $459,000, and Astoria, with a median price of $840,000. Median days on market dropped in each neighborhood, falling by 22 days in Forest Hills and 8 days in Astoria.
To read the full report, visit streeteasy.com.
