July Median Resale Price for South Brooklyn Homes Up 6.4% Over Past Year

SOUTH BROOKLYN — This July, the median resale price for homes in South Brooklyn stood at $413,392, a 6.4 percent increase over the same value in July 2015.

The finding comes from a new study by real estate company StreetEasy.

StreetEasy rolled a host of neighborhoods into South Brooklyn, including Flatbush, Ditmas Park and Sunset Park.

The study also found that the median South Brooklyn home seller received 98 percent of what they asked for their property.

Additionally, the median asking rent for South Brooklyn properties of any size stood at $1,999 in July, up 8.1 percent compared to July 2015. (A note: that number was based only on properties listed on StreetEasy.)

Here's a more specific breakdown of median July rental asking prices in several South Brooklyn neighborhoods compared to July 2015 (further detail is available in the study itself):

• Flatbush: $1,913, up 5.5 percent
• Sunset Park: $2,015, up 3.3 percent
• Ditmas Park: $1,999, down 4.8 percent

According to the study, Brooklyn's overall median resale price was $563,416 in July, an increase of 4.7 percent over July 2015, and the smallest year-over-year percentage increase since the difference measured between October 2012 and October 2011.

StreetEasy projected that by next July, median resale prices for the borough would be up another 3.9 percent, to $585,398.

Image via American Advisors Group