The sellers’ market in New York Metropolis rolls on, with brisk condominium gross sales through the third quarter of the yr being only one indication: Properties bought per week quicker than they did through the third quarter of 2019 (earlier than the pandemic), in accordance with a current examine by StreetEasy. The median sale-to-list-price ratio, which reveals how shut asking costs are to closing costs, revealed that houses throughout town bought at a median of 96 % of their asking costs, up from 92 % one yr in the past.
StreetEasy researchers additionally dug into each itemizing and sale from January by way of September 2021 to search out the ten New York Metropolis neighborhoods the place sellers had the best benefit. They’ve expanded the listing for The New York Instances to incorporate 20 neighborhoods, as proven on this week’s chart.
Brooklyn dominated the listing, with 9 neighborhoods within the prime 10, and 18 within the prime 20. (The Rockaways and Ridgewood, each in Queens, have been the one outliers.) Median sale costs ranged from 96 to one hundred pc of asking costs, leaving little wiggle room for patrons.
Sellers in Cobble Hill have been notably pleased. Among the many prime 20 neighborhoods, houses there have been least prone to have had a value minimize and bought the quickest (tied with Downtown Brooklyn). Solely Dumbo and Carroll Gardens had greater median sale costs.
To realize the rankings, StreetEasy analysts examined 4 knowledge factors: the median variety of days on market; the share of value cuts; the change within the variety of inquiries about properties in contrast with final yr; and the aforementioned median sale to listing value ratio. Neighborhoods with fewer than 100 listings weren’t thought of. This week’s chart reveals the highest 20 sellers’ market neighborhoods in New York Metropolis, the median days on market and the median sale value for every.