A new report released by StreetEasy takes a look at the best neighborhoods in NYC to be a seller in the current market.
According to their report, this home shopping season in New York hit a record on sales in property compared to 2019, property sells faster in more than a week and closer to the asking price. As stated in the report, 92% was a number of how sellers were getting close to their asking price. And now In Q3 2021, it was at 96%.
StreetEasy specialists used four factors to find the best selling neighborhoods of New York: Median days on market, the share of price cuts in the neighborhood, median sale to list price ratio and annual change in the number of inquiries from home shoppers on StreetEasy listings.
The top markets appeared to be in Brooklyn. Cobble Hill took first place on that list where 99% of sellers got their initial asking price. Despite that this neighborhood is considered as one of the most expensive neighborhoods, the median price for the apartment there is $1,765,000. It still has the best rate on being on the selling market. The median home spends 72 days on the market when Cobble Hill spends 35, the report says.
The neighborhoods which made the top list are Park Slope, Prospect Heights, Clinton Hill whose median sale to list ratio is 100%. At 99% are Downtown Brooklyn, Prospect Lefferts Gardens, Carol Gardens and Bedford- Stuyvesant. And at not a big percentage difference, Crown Heights appeared to be at 98%.
The only neighborhood which appeared not to be in Brooklyn is the Rockaways, whose median sale to list ratio is 100%. A place where you can go to the beach every day during summer and still be able to get to the city got in the top 10. Lots of people were able to start from home, which could lead people not to worry about being an hour commute from their offices in Manhattan. On top the median prices in that neighborhood appeared to be the least in the top list, $695,000.
As a result, New Yorkers who were looking to buy their home should move quickly and be ready to pay very close or even more than the listed prices in these 10 neighborhoods. But experts still say that “there is still a selection of affordable homes on the market — even in Manhattan. So for any sellers that are simultaneously looking to buy in New York City, there are great options for you, too”.
To see the full report please visit streeteasy.com