The spring season is just around the corner, which means warmer weather and sunnier skies. The springtime also means it is the peak season to buy a home. According to real estate experts on the Home and Garden Television Network (HGTV), buyers and sellers are most active during the spring and summer months.
This time of year is when housing prices and Brooklyn mortgage rates are the most competitive, meaning you could receive an excellent deal on your home. So, know that the homebuying season is almost among us, it is important to be organized with your finances and be ready to take the next step.
So, to help you get started, your local Brooklyn mortgage lender, Yael Ishakis, has listed what the current real estate market prices are for the local region.
Brooklyn Market Update
Realtor.com is one of the top accredited real estate websites out there today and according to their statistics, the median listing and median sold price for Brooklyn has been consistently increasing over the past three years.
In 2016, the median listing price was $869,000 and the median sold price was $565,000. By the following year, the median listing price had increased to $899,000 and the median sold price rose to $658,000. By this time last year, the median listing price was $950,000 and $700,000 was the median sold price.
The current median listing price for 2019 is $975,000 and the median sold price is $855,000. This consistent increase in price over the past three years supports the predictions that every year the rates are going to rise. Experts are also predicting that the real estate prices are going to get even more expensive in the next few months, so it would be in your best interest to speak with the best mortgage lender in Brooklyn to lock in a rate.
By purchasing your dream home now, you could save hundreds, if not thousands of dollars, so you should act quickly in order to receive these great benefits.
Contact Us
If you are interested in receiving more information on the current residential market trends or if you would like to begin your application for a Brooklyn mortgage, please contact Yael Ishakis at 718-732-0309.
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