Quarterly Rolling Home Price History for Park Slope
Compared to the 3 months ending December 2009, the combined median price for the 3 month period ending December 2010 is 26.47% higher.
The quarterly rolling median price for all homes and apartments in brooklyn reached its most recent peak of $827,000 in September 2010. At $762,000, the current quarterly rolling median price is now 7.86% lower. When the quarterly rolling median price hit its lowest point (to date) of $750,000 in November 2010 it was 9.31% off the most recent peak. It has since climbed 1.60% from that post peak low.
Quarterly Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined
History of Quarterly Rolling Median Sales Prices for the Last Year
| Month | Houses | CO-OPs | Condos | Combined |
|---|---|---|---|---|
| December 2010 | $1,522,500 | $585,000 | $792,500 | $762,000 |
| November 2010 | $1,575,000 | $612,500 | $782,071 | $750,000 |
| October 2010 | $1,650,000 | $645,000 | $766,036 | $762,000 |
| September 2010 | $1,770,000 | $705,000 | $782,071 | $827,000 |
| August 2010 | $1,920,000 | $683,000 | $760,000 | $763,687 |
| July 2010 | $1,900,000 | $662,500 | $725,808 | $720,000 |
| June 2010 | $1,662,500 | $599,000 | $702,592 | $656,771 |
| May 2010 | $1,531,250 § | $486,750 | $706,932 | $638,500 |
| April 2010 | $1,450,000 | $493,250 | $656,771 | $619,833 |
| March 2010 | $1,667,500 | $491,250 | $634,750 | $621,666 |
| February 2010 | $1,667,500 | $583,500 | $442,500 | $633,625 |
| January 2010 | $1,675,000 | $515,000 | $685,000 | $632,250 |
| December 2009 | $1,610,000 | $476,000 | $647,000 | $602,500 |
12 Month Rolling Home Price History for Park Slope
The 12 month rolling median price for all homes and apartments in brooklyn reached its most recent peak of $739,000 in February 2008. At $706,250, the current 12 month rolling median price is now 4.43% lower. When the 12 month rolling median price hit its lowest point (to date) of $634,750 in June 2010 it was 14.11% off the most recent peak. It has since climbed 11.26% from that post peak low.
12 Month Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined
History of Rolling Median Sales Prices for the Last Year
| Month | Houses | CO-OPs | Condos | Combined |
|---|---|---|---|---|
| December 2010 | $1,668,750 | $600,000 | $712,775 | $706,250 |
| November 2010 | — § | — § | — § | — § |
| October 2010 | $1,675,000 | $585,000 | $710,000 | $700,000 |
| September 2010 | $1,668,750 | $573,500 | $703,864 | $691,000 |
| August 2010 | $1,692,500 | $571,000 | $712,775 | $688,659 |
| July 2010 | $1,675,000 | $565,000 | $710,000 | $655,886 |
| June 2010 | $1,661,250 | $557,500 | $702,592 | $634,750 |
| May 2010 | $1,662,500 | $550,000 | $702,592 | $634,750 |
| April 2010 | $1,655,000 | $550,000 | $710,000 | $634,750 |
| March 2010 | $1,675,000 | $557,500 | $719,138 | $634,750 |
| February 2010 | $1,655,000 | $565,000 | $707,638 | $639,750 |
| January 2010 | $1,675,000 | $565,000 | $730,000 | $649,000 |
| December 2009 | $1,697,500 | $557,500 | $743,750 | $645,000 |
Park Slope Home Affordability
In 2007, the median household income in Brooklyn was $40,9422. Home affordability guidelines suggest that no more than 30% of household income be spent servicing a home loan. For the median Brooklyn household, this would have meant that a monthly mortgage payment should not have exceeded $1,023 using the 2007 average mortgage rate of 6.34%3. Combining this with 2007 property sales records, we can calculate that the median income household could have potentially afforded approximately 7.91% of the homes and apartments sold in Park Slope in all of 2007.
1. All sales metrics are calculated from NYC Rolling and NYC Annual property sales. Metrics derived from rolling data are preliminary as some sales take months to report. ↩
2. Affordability data, including median income by borough, are calculated from metrics in the NYC Datamine Economic and Housing Profile datasets. ↩
3. Average mortgage rates are from Freddie Mac Primary Mortgage Market Survey Archives and do not include points. ↩