The Brooklyn sales market is on the cusp of a moderate shift. Residential inventory is still low across all segments of the market and demand remains strong, but activity has started to cool. The heated bidding wars of summer are becoming less prevalent, though the luxury market is steady and townhouses tend to procure multiple bids. The rental market experienced a recent frenzy unlike anything we’ve seen over the past two decades, and is also starting to cool a bit.
We don’t anticipate a big bump in inventory between now and the new year but new listings will continue to trickle in week by week, and rates are expected to stay low through 2021. For buyers and renters who know what they want and plan to call Brooklyn home for the foreseeable future, now is a great time to seize opportunity and make a move. Welcome home!
When priced appropriately, staged and marketed effectively, a property should generate significant interest within the first few weeks on the market.
A knowledgeable buyer’s agent can serve as an advocate to buyers throughout the purchase process, help build your team, alert you to new listings, conduct a comparable market analysis, identify any red flags, advise on an offer strategy, guide your negotiation and consult with all affiliated parties for a smooth process from start to finish.
Please give us a call at 718-622-7600 if you’re considering buying or selling, and we can walk you through the process. We believe in careful pre-market preparation prior to hitting the market, so now is the ideal time to talk if you are hoping to launch your home in the fall.
To ensure everyone’s continued good health, our team has been vaccinated, practices safe social distancing and follows all appropriate coronavirus protocols.
As always, we welcome the opportunity to offer you confidential advice and support on your real estate endeavors—contact us for more info.