Here’s a quick snapshot of how the real estate market in District 13 and District 15 has shifted between September 2023 and September 2024. Both districts have seen a rise in active listings, giving buyers the sorely needed inventory. Interestingly enough the pace of the properties going to contract is less, which is counterintuitive since the interest rate cut came this month. With the start of school, Jewish holidays, and looming election the buyers have not gobbled up the new inventory as one may have expected. Now, let’s dive into the details and what it means for buyers and sellers this autumn.
In District 13, September 2023 saw 166 active listings, with 85 contracts signed and 119 properties sold. Fast forward to September 2024, and the number of listings has surged to 273. However, fewer contracts are being signed—down to 74, with only 96 properties sold. Behind these numbers is a high number of properties that came off the market in August that are now back on market. Buyers now have more choices and sellers must be sure to price competitively and make sure the property stands out. Over in District 15, the market saw a similar trend. In September 2023, there were 178 active listings, 68 contracts signed, and 122 properties sold. By September 2024, active listings had climbed to 278, with 87 contracts signed and 111 homes sold.
The fall season is shaping up to be a dynamic time in the real estate market, with plenty of opportunities if you play your cards right. Whether you’re buying, selling, or investing, these trends highlight the importance of staying informed. Make sure to follow us for the latest updates and insights to stay ahead in this fast-changing market.
Our monthly report on the property market (condo and coop as well as townhouse sales, below for the month of September) 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 September. 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)
