The real estate landscape remains as dynamic as ever, and our May 2024 data shows some very interesting differences between the District 15 and District 13 property markets.
District 13 shows a higher efficiency in terms of converting listings to sales, despite having lower inventory (141 Active listings, 127 Contract Signed, and 107 Sold) compared to District 15 (234 Active listings, 118 Contract Signed, and 105 Sold). The big news is that District 13 inventory is down in the season when inventory almost always swells. This will put upward pressure on prices given the lack of good inventory and the strong contract and closing numbers. You are probably not thinking of selling your property in District 13, but if that’s not the case, now could be an interesting moment given the market movement.
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. Additionally, if you’re curious about the impact of inflation and fluctuating interest rates on the housing sector, I invite you to connect with us for an engaging discussion.
Let’s delve into these significant market dynamics 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 May) 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 May. 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: 556 State St Unit 6CS.
