Have you been to any open houses lately? I have—I try to hit a few each weekend—and the ones I’ve been to have all been packed. There appears to be pent-up demand in brownstone Brooklyn, especially for larger homes with three and four bedrooms. Even in neighborhoods experiencing generational transition like Gowanus, buyers are out there looking—and they’re motivated.
Just look at these three Gowanus properties that we profiled in recent “My 2 Cents” columns. They’re now all under contract—and they took an average of only 36 days to get there:
Address List price Days on the market
476 DeGraw St. $1,595,000 50
452 Sackett St. $1,295,000 30
70 Second St. $1,645,000 27
This is a small snapshot, of course, but contrast this with last quarter’s average of 119 days on the market!*
What are you seeing out there? Let us know on our Facebook page—and watch for further market snapshots.
3 Comments
350 Baltic Street -asking $1.275m- 45 days on market.
John – Thanks for the data point. I omitted this one as I didn’t get a chance to tour the property. Properly priced homes are moving quickly. We will have to wait and see if this puts upward pressure on asking prices.
Here’s another anecdote about Brooklyn’s recovery– from yesterday’s email from “The Apple, Peeled” –
It has been a busy first few months of the year so far and, as we’re always looking to give our readers a sense of trends and what’s happening on the ground, it dawned on us: we’re seeing a whole lot of Manhattanites looking to Brooklyn for their next home. Some are families, others span the gamut of couples and singles, alike … but what’s certain is that Brooklyn has gained a whole new level of attractiveness, both in terms of value and lifestyle. True, most of these clients are looking to Williamsburg, Brooklyn Heights and Park Slope, some of the more developed neighborhoods across the pond. Price-points that are representative of this interest span from $800k to $2 million, not too shabby for the borough. We see this as showcasing an upscaling of demand versus even a year or two ago. As proof, a recent $1.5 million search for a 2-bed, 2-bath apartment yielded all of 3 availabilities. That’s right: count them – three!
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[...] Donald Brennan has a post up on his firm’s website about how a few houses in Gowanus that he’s been tracking have [...]