The New Coney Island - Brooklyn's Times Square by the Sea

Monday, August 3, 2015

Brooklyn Bidding Wars

AMNY excerpt -

Brooklyn's real estate market is so hot now that buyers aren't even limited by the asking price when it comes to securing the perfect home.

A study put out Thursday by StreetEasy, a real estate listings site, said bidding wars in the second quarter of 2015 led to homes in nearly half of the borough's neighborhoods being sold for more than sellers sought for them.

Homes around Prospect Park saw the greatest surge when it came to buyers crossing that threshold. Prospect Heights had a median asking price of $799,000 in the second quarter of 2015, and homes typically sold for 4.1% more than the initial asking price. Park Slope, meanwhile, had a median asking price of $1.05 million, and homes typically sold for 4% more than the asking price.

"It speaks to how competitive and willing buyers are to bid against each other," said Alan Lightfeldt, a data scientist at StreetEasy.

http://www.amny.com/news/brooklyn-homes-reach-record-highs-buyers-pay-more-than-asking-price-report-1.10689572

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