Median July Resale Price for Prospect Park-Area Homes Down 2% From Last Year

PROSPECT PARK, BROOKLYN — This July, the median resale price for homes in the Prospect Park region stood at $772,656, down two percent from July 2015, the only such area decrease in Brooklyn.

The finding comes from a new study by real estate company StreetEasy.

StreetEasy considered the following neighborhoods as part of Prospect Park: Park Slope, Prospect Heights, Lefferts Gardens, Prospect Park South and Windsor Terrace.

Despite the drop, the study also found that the median Prospect Park home seller received 102.9 percent of what they asked for their property.

Additionally, the median asking rent for Prospect Park properties of any size stood at $2,650 in July, down 4.2 percent from July of last year. (A note: that number was based only on properties listed on StreetEasy.)

Here's a more specific breakdown of median July rental asking prices in Prospect Park-area neighborhoods, compared to July 2015 (further detail is available in the study itself):

• Park Slope: $2,998, down 0.1 percent
• Prospect Heights: $2,850, down 1.7 percent
• Lefferts Gardens: $2,108, up 24 percent
• Prospect Park South: $2,150, up 19.4 percent
• Windsor Terrace: $2,450, down 13.7 percent

According to the study, Brooklyn's overall median resale price was $563,416 in July, an increase of 4.7 percent over July 2015, and the smallest year-over-year percentage increase since the difference measured between October 2012 and October 2011.

StreetEasy projected that by next July, median resale prices for the borough would be up another 3.9 percent, to $585,398. The company also predicted that the median resale price within the Prospect Park region would grow 2.8 percent over the coming year.

Image via American Advisers Group