Bed-Stuy Has NYC's Biggest Jump In Median Home Sale Price In 2021

BROOKLYN, NY —Bedford-Stuyvesant had the sharpest increase in median home sale price of any neighborhood in New York City in 2021, according to statistics published Wednesday by the real estate data provider Property Shark. Brooklyn neighborhoods actually claimed the top four spots on the list of median home sale price increases.

In a lengthy article titled "Top 50 Most Expensive NYC Neighborhoods in 2021," Property Shark revealed that Bed-Stuy experienced a 29-percent increase year-over-year in median home sale price, which rose by $200,000 and now stands at $800,000.

The publication noted that the increase was helped by two Bed-Stuy properties that accounted for 14 percent of total sales: 567 Marcy Ave., selling at $970,000, and 92 Stockton St., selling at $957.000.

Greenpoint, at 28 percent, Brooklyn Heights, 27 percent, Gowanus, 26 percent, and Downtown Brooklyn, 26 percent, rounded out the top four on the list of median home sale price increases. Manhattan's Chinatown, No. 6, was the highest non-Brooklyn entry on the list.

Home sales in New York City were up 79 percent in 2021 after a sharp decline, 32 percent, in 2020 due to the pandemic.

Manhattan remains home to nine of the city's 10 most expensive neighborhoods based on median sales price.

Brooklyn's Vinegar Hill neighborhood, with a median sale price of $1.54 million, was the borough's only entry in the Top 10, ranking No. 7. Vinegar Hill was absent from the 2020 rankings due to insufficient transactional activity.

Vinegar Hill was elevated to Brooklyn's most expensive neighborhood thanks to a 13-percent price decline in DUMBO last year, which saw its median sale price fall from $1.6 million to $1.4 million.

Carroll Gardens came in as Brooklyn's No. 3 priciest neighborhood, with a median sales price of $1.4 million, which was a 3-percent drop from 2020.

The two most expensive areas in the city in 2021 remained the same as the previous year: No. 1 Hudson Yards, with a median sale price of $4.75 million, and No. 2 TriBeCa, with a median sale price of $3.5 million.

Read more at PropertyShark.com.