As we progress into August 2024, the real estate market in District 13 and District 15 continues to show dynamic shifts compared to July 2024, reflecting broader economic trends and local developments.
In District 13, active listings have seen various fluctuations throughout the year. From a peak in listings in March 2023, with 196 properties available, there has been a gradual decline leading up to July 2024, indicating a tightening of inventory. Contracts signed have shown a robust performance, peaking in May 2023 with 156 agreements, which indicates strong buyer interest and a competitive market. The number of properties sold has also been significant, with May 2023 seeing the highest activity with 124 transactions. As we approach July 2024, the market remains active, but with a slight decrease in the number of properties sold, suggesting a potential stabilization in buyer activity.
In District 15, the market dynamics have been similarly engaging. Active listings peaked in April 2023 with 188 properties, showing a healthy inventory during that period. Contracts signed reached their highest in May 2023 with 140 deals, reflecting a strong demand phase. The highest number of properties sold was in January 2023, with 109 transactions, providing a solid start to the year. As we move towards July 2024, the number of active listings and properties sold has slightly decreased, indicating a possible shift towards a more balanced market.
As we look forward to the remainder of 2024, the real estate market in District 13 and District 15 is expected to continue offering exciting opportunities for buyers, sellers, and investors. The sustained interest and growth in these districts underscore the area’s attractiveness. With the upcoming election, recent stock market sell-offs, and the mortgage market pricing in a potential September interest rate cut, it’s crucial to stay informed. Be sure to follow us for the latest updates and detailed analyses on how these factors may impact your property market. Stay ahead in this dynamic landscape!
Our monthly report on the property market (condo and coop as well as townhouse sales, below for the month of July) 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 July. On each image below the data is broken down based on the status of properties:
