With Thanksgiving just around the corner, the holiday season is officially here. Decorations are being sprung up everywhere and the whole city is preparing themselves for the world famous Macy’s Thanksgiving Day Parade. This time of year is all about friends, family, and being thankful for all you have, and what better way is there to show that by celebrating the holidays with loved ones in your own home.
Buying a home now means you have the opportunity to decorate your house with all the holiday décor and you can host Thanksgiving as well as Christmas dinner. So to help you get started in making your dreams of owning a home come true, the best Brooklyn mortgage lender, Yael Ishakis, has listed the most current market update for the Brooklyn area.
Brooklyn Market Update
In reference to Realtor.com, the median listing price has been continuously fluctuating over the past three years. In November 2015, the median listing price was $838,944. By 2016, the price had drastically dropped approximately 47.7% to $439,000. One year later the November listing price skyrocketed to $959,000 and the current median listing price for 2018 is $995,000. This current price is about a 3.8% increase over the past year and is an 18.6% increase over the past three years.
If you are considering purchasing a home and need to apply for a Brooklyn mortgage, it would be in your best interest to speak with a local lender and try to lock in a rate now. With the market continuously increasing, locking in a rate now can help prevent you from having to pay higher fees in the near future.
Buying a home in Brooklyn would be an excellent investment and a wonderful place to live. As stated, the current median listing price is $995,000, however, the median sold price is $799,500. By working with the right Brooklyn mortgage lender and realtor, you may be able to receive an excellent deal on a home so call and make an appointment today.
Contact Us
For more information on the Brooklyn market or if you are interested in filling out a mortgage application, please contact Yael Ishakis at 718-732-0309.
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