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Bed-Stuy Leads Brooklyn Home Sales as Prices Jump 21 Percent, Report Says

 Bedford-Stuyvesant topped the list of Brooklyn home sales activity in the second quarter of this year with 183 sales, according to a report.
Bedford-Stuyvesant topped the list of Brooklyn home sales activity in the second quarter of this year with 183 sales, according to a report.
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DNAinfo/Camille Bautista

BEDFORD-STUYVESANT — Home sales are heating up in Bedford-Stuyvesant, according to a report from the Real Estate Board of New York.

The neighborhood topped the list of Brooklyn home sales in the second quarter of this year with 183, the report said. The Bay Ridge/Fort Hamilton area followed closely at 137 sales and Park Slope came in third at 129.

Bed-Stuy’s average home sales price — including condos, co-ops, and one-to-three family dwellings — jumped 21 percent to $874,000 compared to the second quarter of 2014, according to REBNY.

Brooklyn as a borough also saw an increase — albeit smaller — at 9 percent, with a $778,000 average sales price, the report found.

Bed-Stuy is a “frenzy-crazy” neighborhood for buyers due to its close proximity to the city and an “absolutely stunning” stock of brownstones, according to Ban Leow of Halstead Property.

“Bed-Stuy is gradually coming up in pricing to where it should be, comparing neighborhood to neighborhood,” he said.

Two-to-three family, four-story properties average $1.5 million or more, he added.

According to REBNY’s report, the average sales price of a one-to-three family home in the neighborhood increased 25 percent to $937,000 in 2015’s second quarter, compared to the same time frame last year.

Bed-Stuy's boom is a result of supply and demand, said Juliana Brown-DeRiggs, senior managing director at the Corcoran Group.

“People six months ago, when looking, were thinking about a particular area, had a particular budget, but realized they were out-priced and outbid and could no longer afford certain areas,” Brown-DeRiggs said.

“It pushed those individuals to look at other brownstone neighborhoods like Bedford-Stuyvesant.”

Ocean Hill is also gaining traction for buyers, both Leow and Brown-DeRiggs added, along with Brownsville, East New York and Cypress Hills.