Gowanus Real Estate Market Trends

Market Overview for Quarter 4, 2020


Median Sale Price

$751K

-30% YoY


Median Price/Sqft

$1,069

-2% YoY


No. of Transactions

18

63% YoY

Brooklyn Median Sale Price

$775K

14% YoY

The median home sale price in Gowanus as of Quarter 4 was $751K, down 30% year-over-year. A total of 18 assets were sold, representing a 63% growth compared to Quarter 4 last year. The median price per square foot was $1,069, a -2% YoY change. In Quarter 4, the median home sale price in Brooklyn was $775K.

Gowanus Neighborhood Map

Gowanus has a hip, industrial feel. Popular with artists, music venues, and photographers due to its central location and easy public transportation to Manhattan, it's easy to see why it attracts buyers. Homes here include frame houses and brick townhouses. Important attractions include the Carroll Street Bridge and the site of the Gowanus Memorial Artyard.

Gowanus Median Sale Price

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Median Sale Price Per Square Feet

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Real Estate Transactions in Gowanus

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Top most expensive neighborhoods in Brooklyn

Gowanus median price compared with other neighborhoods in Brooklyn

Property values in Gowanus are lower compared to the borough of Gowanus overall.




Gowanus median price compared with all the neighborhoods in Brooklyn

Neighborhood Borough Median Sale Price
Fiske Terrace Brooklyn $2,295,000
DUMBO Brooklyn $1,485,000
Manhattan Beach Brooklyn $1,475,000
Vinegar Hill Brooklyn $1,470,000
Carroll Gardens Brooklyn $1,373,000
Boerum Hill Brooklyn $1,345,356
Columbia Street Waterfront District Brooklyn $1,225,000
Mill Basin Brooklyn $1,170,000
Red Hook Brooklyn $1,102,065
Park Slope Brooklyn $1,101,271
Greenwood Heights Brooklyn $1,047,500
Brooklyn Heights Brooklyn $999,000
Williamsburg Brooklyn $985,000
Greenpoint Brooklyn $970,000
Cobble Hill Brooklyn $939,000
Dyker Heights Brooklyn $899,500
Bedford-Stuyvesant Brooklyn $890,000
Borough Park Brooklyn $882,500
Prospect Heights Brooklyn $860,750
Clinton Hill Brooklyn $835,000
Fort Greene Brooklyn $798,755
Windsor Terrace Brooklyn $780,000
Ocean Hill Brooklyn $772,500
Bergen Beach Brooklyn $765,000
Bushwick Brooklyn $765,000
Madison Brooklyn $760,000
Gowanus Brooklyn $751,798
Ditmas Park Brooklyn $710,000
Downtown Brooklyn Brooklyn $705,000
Marine Park Brooklyn $700,000
Crown Heights Brooklyn $700,000
Prospect Park South Brooklyn $695,000
Sea Gate Brooklyn $681,209
Prospect - Lefferts Gardens Brooklyn $677,750
Bensonhurst Brooklyn $670,549
Midwood Brooklyn $652,500
Gravesend Brooklyn $625,000
Flatbush Brooklyn $609,000
Georgetown Brooklyn $607,500
Old Mill Basin Brooklyn $600,000
Flatlands Brooklyn $575,000
East Flatbush Brooklyn $568,250
Gerritsen Beach Brooklyn $565,000
Wingate Brooklyn $561,699
East New York Brooklyn $537,500
Bay Ridge Brooklyn $527,199
Kensington Brooklyn $499,000
Bath Beach Brooklyn $475,000
Canarsie Brooklyn $473,792
Sunset Park Brooklyn $470,000
Coney Island Brooklyn $462,500
Brighton Beach Brooklyn $440,000
Brownsville Brooklyn $440,000
Homecrest Brooklyn $418,500
Sheepshead Bay Brooklyn $402,800

Residential Properties Sold in Gowanus

Property Type Median sale price Y-o-Y Median sale price/sqft Y-o-Y Transactions
Condos $751K -30% $1K -2% 14
Coops $455K - $964 - 3
Houses $1.5M -22% $1K -5% 1

The median house sale price in Gowanus in Quarter 4 was $1.5M, down 22% year-over-year. Condo prices in Gowanus trended similarly, with the median condo price down 30% year-over-year to $751K. Median coop sale price in Gowanus were $455K, a change of -% year-over-year.

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Gowanus Neighborhood Guide

Gowanus was once an industrial mainstay but today is a neighborhood in the midst of a revitalization. With trendy art spots and popular music venues on the same roads as dingy canals and industrial warehouses, it's truly a mix of family-friendly homes, new construction, and a view into the past of New York City's industrial roots. With passable public transportation and the ease of parking, it's a popular spot for commuters to call home and its emerging restaurant scene is turning it into a hit with the foodies too.

Architecture and landmarks

Much of Gowanus is zoned for manufacturing, and residential developers have only recently begun to develop the area in earnest. As a result, many of the housing options include converted warehouses, converted industrial buildings, and new condos. There are at least eight community groups that exist solely for the planning of the revitalization of this neighborhood, including the Gowanus Alliance, Bridging Gowanus, Friends and Residents of Greater Gowanus, and the Gowanus Ecology Initiative. The Gowanus Memorial Artyard is no longer fully functional but its remains can still be seen in a 19th century munitions factory.

Transport

The BMT Fourth Avenue Line stop serves the D, N, and R subway lines, while the IND Culver Line stop serves the F and G trains. There are also bike routes that cross the canals at several intersections, and the Gowanus Expressway is elevated and runs through the neighborhood with a canal crossing at Hamilton Avenue. The Carroll Street Bridge is also in Gowanus and is one of only four retractable bridges that still operate in the United States.

Schools

There are five primary and secondary schools in Gowanus. PS 32 Samuel Mills Sprole has an enrollment of 425 and is one of the highest rated options in the area, though Hellenic Classical Charter School in nearby Greenwood is rated slightly better. The co-ed Al-Madinah Private School serves pre-kindergarten through 12th grade and also receives good ratings.

Health

The closest hospital is New York Methodist Hospital, located in neighboring Park Slope. Brooklyn Hospital Center is another highly-rated option and is located in Fort Greene. There are a few private practices within Gowanus but most residents travel to other neighborhoods for their medical needs.

Safety

The 78th Precinct of the New York Police Department overseas Gowanus, which is one of the safer neighborhoods in the city. With 13.91 crimes per 1,000 people in 2016, it has a relatively low crime rate, though residents do point out that it can be rather desolate at night.

Things to do

In line with its up and coming vibe, there are many things to do in Gowanus. Canal Bar is a popular dive bar with free popcorn and affordable prices. Littleneck is a restaurant best known for its littleneck clams, and The Pines offers unique ingredients like boar belly and sunchokes. Two Toms is a 60-year-old Italian restaurant that still feels like the private club it once was, though Bar Tano is the top choice for those searching for a more casual Italian eatery. There are many BBQ spots battling it out for top billing, but Dinosaur Bar-B-Que and Fletcher's have both been long-time favorites.

There is a fair variety of shops here too, including Cut Brooklyn, where you can find locally made kitchen cutlery, Gowanus Furniture, ADVERTS Vintage and Robot Foundry, which makes robots out of old computer parts. Artists and lovers of the arts will feel right at home with art spaces, studios, and lofts. Don't miss the Open Studios tours, which only happen in the fall but take participants through a number of art spaces in the neighborhood.

One of the only shuffleboard courts in the city is located in Gowanus. There are also numerous green spaces with several large parks currently being planned.