It's a Buyer's Market and Sellers are Motivated to Sell

Brooklyn housing prices are affordable right now. Prices are lower than they have been in the last two years, and sellers are now motivated to sell. In most areas, prices have gone down at least 10% over the last two years. Areas like Bushwick and East New York are experiencing record numbers of foreclosures. The higher end Northern Brooklyn market areas such as Brooklyn Heights, Park Slope and Williamsburg are still realizing appreciation in property values and are in high demand because of their easy commute to Manhattan via bus or subway.

According to Trulia.com, the median sales price for all of Brooklyn during July 2008 through September 2008 was $583,000, down 0.3% from the same time last year.

Let's take a closer look at some of the individual neighborhoods in Brooklyn and see where some of the best buys are right now besides Bushwick and East New York.

For instance in Bedford-Stuyvesant Real Estate, Trulia.com reported the median home sales price for the period July 2008 through September 2008 was $500,000, down 15.08% from the same time last year. In the Bayridge and Fort Hamilton area the median home sales price for the same period was $730,000 up 14.6%. In Park Slope Real Estate, the median home sales price for the same period was $960,000, down 9.6% for the same period last year. In Sheepshead Bay, the median home sales price for the same period was $595,000, up 12.3% for the same period last year.

Serving the Communities of: Bath Beach, Bay Ridge, Bensonhurst, Bergen Beach, Brooklyn Heights. Carroll Gardens, Ditmas Park, Ditmas Part West, Downtown Brooklyn, Dyker Heights, Flatbush NY, Fort Greene, Gravesend, Kensington NY, Manhattan Beach, Marine Park NY, Mill Basin, Mill Island, Ocean Hill, Paerdegat Basin, Park Slope, Plum Beach NY, Prospect Lefferts Gardens, Prospect Heights NY, Prospect South Park, Sheepshead Bay, Sunset Park NY, Willimamsburg, Windsor Terrace NY