You have decided to move to Brooklyn, and the next logical step is to find a house you will call home. Perhaps you have put a limit on your budget, or you just want to spend a certain amount of money on a new home. Whatever the reason is, it is possible to find cheap houses for sale in Brooklyn. We at Brooklyn Movers New York have some tips for you on how to do it.
Brooklyn real estate markets with cheap houses
Despite the fact that almost everyone in New York knows someone who got lucky and bought in early, the days when Brooklyn was an affordable Manhattan alternative for first-time home purchasers are long gone. However, if you seek hard enough, you can still find a good deal.
According to some data the most affordable neighborhoods in Brooklyn are:
- Sheepshead Bay
- Coney Island
Price ranges in Brooklyn neighborhoods
The median price of a home is $685,000. The price change was negligible, and total transactions were down 9.2%.
While Brooklyn used to be the place where people went to get affordable housing when they were priced out of Manhattan. However, there are still pockets of affordability, as well as some surprises.
East New York, for example, does not even make the top three most inexpensive areas; its median sale price is $420,000, and the number of transactions, 201, is up 37 percent more than any other of the five boroughs’ most affordable neighborhoods.
With the exception of Harlem, Sheepshead Bay outperformed every other inexpensive neighborhood in terms of transaction volume in 2019, with 297, a decrease of 18%. There was a 6% price increase, and the housing stock sold is one of the more diverse, with 50 percent co-op sales, 26 percent condo sales, and 24 percent single-family homes.
While the number of sales decreased, the median price in Flatlands increased by 17%, the biggest increase of any of our affordable Brooklyn communities.
Flatlands makes its first appearance on our list of affordable areas in Brooklyn. The neighborhood’s sales are split fairly evenly between houses (56%) and co-ops (56%).
Coney Island, which came in third with a median sales price of $412,000, suffered a drop in both price and number of sales. The median sales price was down 4%, and the number of transactions was down 14%.
Tips to find cheap houses for sale in Brooklyn
There are many ways to find houses for sale in Brooklyn. If you decide you cannot do it on your own, especially if you are a first-time homebuyer, contact real-estate agents. You can tell them everything you require from a new home. The first thing to do is decide on a budget. Their search can be quicker and easier once you establish a budget amount. Then kick back and relax, while they do the job for you. Once they have found several options, you can take a look and decide. If you are impatient, you can always research real estate on the Internet. There are many websites you can visit and try to find cheap houses for sale in Brooklyn.