January saw the most active market in three years, fueled by rising inventory and steady pricing. Contract activity surged 34% year-over-year, marking the fifth annual increase in the past six months.

Buyers were particularly active across Brooklyn, with seven of eight submarkets seeing increased demand. South Brooklyn and the area south of Prospect Park led the charge, contributing to 50 additional contracts under $1M compared to last year.

 

With a strong start to the year and continued buyer demand, Brooklyn’s real estate market is showing resilience. If you’re thinking of buying or selling, now’s the time to strategize and I am here to help!

Perched on the fifth floor above serene, tree-lined streets, this big, bright and beautiful two-bedroom, two-bath show stopper is the perfect blend of style, comfort, and convenience. Located in a highly sought-after corner of Terrace Gardens, this light-filled apartment boasts one of the building’s largest layouts with a spacious private terrace ideal for outdoor relaxation.
From the moment you step through the doors of this palatial home the formal dining area dazzles. Leading to the sunken living room, bathed in warm southern light, providing an inviting space for gathering and entertaining, with seamless access to the oversized south facing balcony.
The expansive windowed kitchen offers charm and functionality with oak cabinetry, new flooring, and a cozy dinette for casual dining. Both bedrooms are generously sized, easily accommodating king-sized beds. The primary bedroom includes an en-suite bathroom with a walk-in shower, while the second bathroom features a soaking tub. Both baths are adorned with classic white tile, creating a timeless aesthetic.
Storage won’t be an issue, thanks to six ample closets, all upgraded with brass plates and crystal knobs for a refined touch. With beatiful oak floors, new designer lighting, modern ceiling fans, two massive sun strewn bedrooms, eat-in kitchen, formal dining room, and updated bathrooms, who could ask for anything more?
Located between 16th and 17th Streets, Terrace Gardens is a pet friendly coop, offering unparalleled convenience and amenities. The building features 24-hour security and doorman service, a live-in superintendent, and part-time porters. Residents can enjoy a newly upgraded laundry room, bicycle room, and storage, available on a waitlist for an additional cost. An indoor parking garage is also available, subject to a waitlist and fee.

Nestled in a quiet, suburban-like neighborhood, the building is just one block from the Avenue J Q train station, providing easy access to Brooklyn College, the Brooklyn Public Library, and the vibrant shopping and dining options on Avenue J. Surrounded by picturesque Victorian homes, it is also conveniently located near Ocean Parkway and Bedford Avenue bike paths. This Big, Bright Beauty is calling you HOME!

Key Market Highlights:
📈 Inventory Growth: Active listings rose 14% year-over-year, extending a nine-month streak without decline. However, with 1,418 total listings, this was still the second-lowest January figure in over eight years.
🏡 Pricing & Negotiability: Average price per square foot ticked up 1%, continuing a four-month streak of annual gains. While several deals closed 10% above ask, overall negotiability remained limited—especially in the co-op market, which has held firm for 18 months.
⏳ Days on Market: Properties sold 17% faster than a year ago, thanks to a shorter marketing period for condos.