Getting a deal when buying or selling a home in New York City can be daunting, but there are some neighborhoods were you’ll have a leg up.
StreetEasy released a study Thursday that pinpointed the neighborhoods where buyers may have more negotiating power and sellers will have more leeway to get more money out of their property.
The buyer-friendly neighborhoods were spread throughout the city with communities like Sheepshead Bay, SoHo, and Kew Gardens Hills topping the list.
“Buyers here will have a great opportunity to negotiate, and will likely feel less rushed as they weigh their options,” Krishna Rao, StreetEasy economist said in a statement.
Brooklyn appeared to be the prime borough for sellers as homes in neighborhoods like Kensington, Prospect Heights and Fort Greene yielded a high return.
StreetEasy came up with the list using a metric that analyzed the time homes in a neighborhood spent on the market, the final sales price and price cuts.
“Buyers can arm themselves with this knowledge by getting their finances in order and coming to the table ready to make an aggressive offer,” Rao said in a statement.
Here are the neighborhoods that are advantageous for buyers along with their median sales price as of the third quarter of 2016, according to StreetEasy’s report.
Kew Gardens Hills – $248,000
Canarsie – $380,000
Sheepshead Bay – $390,250
Midtown – $1.45 million
SoHo – $3.29 million
Here are the neighborhoods that are great for sellers along with their median sales price as of the third quarter of 2016, according to StreetEasy’s report.
Kensington – $515,000
Fort Greene – $682,720
Prospect Heights – $735,000
Lower East Side – $775,000
Cobble Hill – $1.33 million
