Borough Park Real Estate Market Trends

Market Overview for Quarter 2, 2021


Median Sale Price

$875K

2% YoY


Median Price/Sqft

$604

12% YoY


No. of Transactions

70

118% YoY

Brooklyn Median Sale Price

$835K

19% YoY

What is the median sale price and median price per sq ft in Borough Park?

In Quarter 2, the median home sale price in Borough Park was $875K, a 2% change year-over-year. A total of 70 properties changed hands, up 118% compared to the same month last year. In Quarter 2, the median price per square foot was $604, a 12% YoY change. The median home sale price in Brooklyn was $835K.

Borough Park Neighborhood Map

Borough Park covers just 200 blocks yet it's one of the most densely populated areas in Brooklyn. The population is just under 200,000 and housing is primarily low-rise multifamily homes. Rarer options include classic apartment complexes and high-end gated communities. Public transportation options abound in this neighborhood.

Borough Park Median Sale Price

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Median Sale Price Per Square Feet

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Real Estate Transactions in Borough Park

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Top most expensive neighborhoods in Brooklyn

Borough Park median price compared with other neighborhoods in Brooklyn

Borough Park property values are on the higher-end for neighborhoods in Brooklyn .




Borough Park median price compared with all the neighborhoods in Brooklyn

Neighborhood Borough Median Sale Price
Vinegar Hill Brooklyn $1,675,000
Prospect - Lefferts Gardens Brooklyn $1,549,995
DUMBO Brooklyn $1,491,250
Manhattan Beach Brooklyn $1,400,000
Cobble Hill Brooklyn $1,385,000
Greenpoint Brooklyn $1,315,000
Carroll Gardens Brooklyn $1,219,000
Park Slope Brooklyn $1,185,000
Red Hook Brooklyn $1,117,709
Brooklyn Heights Brooklyn $1,100,000
Columbia Street Waterfront District Brooklyn $1,100,000
Prospect Heights Brooklyn $1,085,000
Williamsburg Brooklyn $1,075,000
Boerum Hill Brooklyn $1,050,000
Mill Basin Brooklyn $999,000
Gowanus Brooklyn $987,500
Fort Greene Brooklyn $960,000
Bedford-Stuyvesant Brooklyn $931,698
Greenwood Heights Brooklyn $920,000
Dyker Heights Brooklyn $905,000
Downtown Brooklyn Brooklyn $885,000
Borough Park Brooklyn $875,000
Madison Brooklyn $830,000
Windsor Terrace Brooklyn $825,000
Ditmas Park Brooklyn $813,000
Crown Heights Brooklyn $805,500
Sea Gate Brooklyn $755,000
Bushwick Brooklyn $739,000
Wingate Brooklyn $730,000
Clinton Hill Brooklyn $723,500
Marine Park Brooklyn $719,000
Georgetown Brooklyn $710,000
Bensonhurst Brooklyn $700,000
Flatbush Brooklyn $662,500
Bergen Beach Brooklyn $662,500
Gravesend Brooklyn $620,000
East Flatbush Brooklyn $605,000
Prospect Park South Brooklyn $599,000
Sunset Park Brooklyn $595,000
Flatlands Brooklyn $570,000
Midwood Brooklyn $565,119
Canarsie Brooklyn $553,175
Brownsville Brooklyn $550,000
Old Mill Basin Brooklyn $545,900
Kensington Brooklyn $540,000
Gerritsen Beach Brooklyn $490,000
Bay Ridge Brooklyn $480,000
East New York Brooklyn $470,000
Brighton Beach Brooklyn $452,250
Bath Beach Brooklyn $445,000
Ocean Hill Brooklyn $414,200
Coney Island Brooklyn $372,500
Sheepshead Bay Brooklyn $342,472
Homecrest Brooklyn $325,000

Residential Properties Sold in Borough Park

Property Type Median sale price Y-o-Y Median sale price/sqft Y-o-Y Transactions
Condos $760K -4% $574 14% 38
Coops $475K 35% - - 2
Houses $1.1M 15% $750 18% 29

The median house sale price in Borough Park in Quarter 2 was $1.1M, up 15% year-over-year. Conversely, median condo prices in Borough Park trended down 4% year-over-year to $760K. Median coop sale price in Borough Park were $475K, a change of 35% year-over-year.

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Borough Park Neighborhood Guide

Borough Park, also known as Boro Park, is located on the southwestern tip of Brooklyn. The exact boundaries of this large neighborhood have changed over the last three decades, and the result is that the neighborhood has tripled in size. Today it's considered to be the grid of streets between Bensonhurst, Bay Ridge, Sunset Park, Kensington, Flatbush, and Midwood. This economically diverse area has seen a significant growth in population though the neighborhood has maintained its traditional feel.

Architecture and landmarks

Well-known for its array of independent stores, locally owned restaurants, and classic brownstones, Borough Park is also home to an array of art galleries. Cultural landmarks include Roulette, BAM, the Invisible Dog Art Center, and the Issue Project Room. There's even a non-commercial radio station located in the neighborhood, which is entirely funded by its listeners. It's also home to a small historic district with a long row of Italianate and Greek Revival homes built in the early 1870s. Classic architecture in the rest of the neighborhood is limited to brownstones and bricks, though there's been an influx of new building in the area for the last decade and this trend is expected to continue.

Transport

Residents of Borough Park can hop on the F or D train and get to Midtown in just about half an hour. There are also a number of local bus lines, the most popular of which are the 16, which goes down 13th Avenue and 14th Avenue, and the 11, which goes down 49th Street and 50th Street, and several express buses to Manhattan.

Schools

Most students in Borough Park are enrolled in yeshivas or other religious schools, but there are public schools as well. PS 164 Caesar Rodney serves pre-K to 5th grade, and JHS 223 the Montauk, which is not in Borough Park but is nearby, serves 6th through 8th grade. The most popular public high school in the neighborhood is Franklin Delano Roosevelt High School, which scores above average on standardized tests.

Health

The Maimonides Medical Center is located in Borough Park, and has almost 700 beds, a level 2 trauma center, an ER, maternity wards, and psychiatric services. It is one of the largest teaching hospitals in the state and has a significant outpatient clinic program. There are a number of private practices in the area as well, including alternative medical providers.

Safety

Borough Park is patrolled by the 66th Precinct of the New York Police Department, where there is a yearly average of 5.96 reported crimes per 1,000 residents. This makes it one of the safest neighborhoods in both Brooklyn and New York City in general.

Things to do

13th and 16th Avenues are home to dozens of restaurants, shops, schnitzel bars, kosher fast food spots, hat stores, wig shops, and clothing stores. Eichlers is a Judaica superstore with music, books, clothes, and even framed photos of rabbis.

Other avenues and streets have hotspots of their own, including the popular Chinese restaurant Yun Nan Flavor Garden, the upscale sandwich shop Parlay, a popular hotpot mainstay Laojie Hotpot, and Viiza's Pizza. For those who want to have a few cocktails, Fantastic Bar is a popular choice, and those who want a more laidback spot to have a few beers can likely be found at Soccer Tavern or Hunter Bar 888.

Apothecarie New York is favored by those searching for the finest skin care products, and Pink House is one of the most unique clothing stores in the neighborhood. There is a branch of the Brooklyn Public Library at the intersection of 43rd Street and 13th Avenue.