June 2024 brought a slight decline in inventory levels to the real estate markets of Districts 13 and 15 in Brooklyn. These areas, known for their diverse housing options and vibrant communities, continued to experience strong demand as the primary influencer of the market conditions.
District 13 had 123 Active Listings, 101 Contract Signed, and 96 Sold properties. District 15 had 173 Active Listings, 117 Contract Signed, and 112 Sold properties. Inventory levels remained tight, with both districts seeing a decrease in inventory compared to May 2024. The rental market is expected to remain stable, with continued demand and constrained supply keeping rental prices firm.
To gain a deeper understanding of the evolving real estate landscape, take a closer look at the insightful trends depicted in the charts below which will show the snapshots by neighborhood and the district trends for Active, in-contract, and sold properties as well as the district trends charts.
What can cure the inventory shortage? Are we closer economically to inflation levels that would allow for rate cuts? What to expect in the second half of 2024? Let’s delve into these topics together and explore how they might shape your real estate decisions.
Our monthly report on the property market (condo and coop as well as townhouse sales, below for the month of June) in District 13 and District 15 as well as the neighborhoods that make up those school districts including Brooklyn Heights, DUMBO, Boerum Hill, Cobble Hill and Park Slope is out for June. On each image below the data is broken down based on the status of properties:
- Actively for sale (private exclusive, coming soon, new listings, back on market, price increase and price reduction)
- In the sale process (contract out and contract signed)
- Off market (sold, temporarily off market, permanently off market, exclusive expired)
Private Exclusive and Coming Soon listings are properties that are coming to market soon that are exclusive to Compass.com (not yet on the other real estate websites). Temporary off, permanently off, and exclusive expired means that those properties did not have success selling and have come off the market. They may sell at a later date or be totally removed from the market. By tracking the number of properties in each status category you will be able to fully understand the balance of supply versus demand.
District 13 residential listings for sale in the last 30 days
District 13 residential listings & sales last 12 months
District 15 residential listings for sale last 30 days
District 15 residential listings & sales last 12 months
Check in with us around the 5th of the month for our monthly real estate update! Our partners, Peter and the Riolo Property Team at Compass are here to provide more detailed reports or collections of properties. Access to all listings is free, you just need an account with Compass.
Check out Exclusive Listings on Compass here.
Main image: 77 Clarkson Ave Unit 3F.
