PLG Home Sales Increased 100% In First 3 Months Of 2023: Study

PROSPECT LEFFERTS GARDENS, NY — Compared to last year, 2023 is looking like a huge year for Prospect Lefferts Gardens home sales.

In the first three months of 2023, home sales in PLG increased a whopping 100 percent compared to the same period in 2022. Some 20 homes sold early in 2023 compared to 10 a year prior, the study found.

This means Prospect Lefferts Gardens had the most dramatic growth out of 225 New York City neighborhoods included in the study.

As sales increased, so did prices — the median sale price increased over 50 percent, reaching $810,000, according to the study.

Many other Brooklyn neighborhoods also saw significant increases in sales including Prospect Park South, Manhattan Beach and Wingate.

Other Brooklyn neighborhoods saw drops in sales over 50 percent including Bed-Stuy, Park Slope, Williamsburg, Cobble Hill and DUMBO, according to Property Shark.

The biggest drop in sales across all five boroughs came in Dongan Hills in Staten Island, which saw an 86 percent drop in sales, preceded only slightly by Homecrest with an 82 percent drop.

While PLG's price increase was large, it was far from the largest — Fieldston in the Bronx saw the biggest increase in sales prices, increasing by nearly 150 percent to reach a median sales price of $840,000.

In Brooklyn, the biggest jump hit Bay Ridge, where prices increased by 53 percent.

The study looked at 225 NYC neighborhoods that had at least five sales per quarter since January 2022. The vast majority of the neighborhoods considered — 193 — saw drops in sales. Some 22 saw increases

View the full study from Property Shark.