Market Snapshot: Demand Strong for Brownstones in Carroll Gardens

In this mini market snapshot of four Clinton Street brownstones, we see homes in Carroll Gardens continued to sell briskly this spring. This is consistent with the trend we saw earlier in the year, with demand pressure especially strong for two-family homes. 

The chart below lists the four homes that sold or went to contract between March and June. Note they were on the market for an average of only 43 days — a sign of a healthy real estate market. Take a stroll up Clinton Street, from Carroll to DeGraw, and take a look at them all.

Recent Transactions: Two-family Homes in Carroll Gardens

Address                     Asking Price       Days on Market*      Selling Price        

369 Clinton St.           $2,800,000             44                      $2,800,000          

371 Clinton St.           $2,695,000             20                       $2,695,000

432 Clinton St.           $1,450,000             69                       $1,731,000

408A Clinton St.         $1,150,000             38                        (In contract.)

Average                     $2,023,750             43                       $2,408,666

* As reported on StreetEasy as "In Contract" or "No Longer Available."

Pricing

While one building is yet to close, all of the other homes sold at or above list price. And 408A Clinton Street should close substantially above list price, since its asking price was severely below market. (I’ll discuss this questionable pricing strategy in a future post on Brennan Realty Services site.)

Often during the summer months, with buyers out of town, demand declines and prices are reduced. But with these recent trends, buyers shouldn’t expect to see much of a “summer discount” this year. If a townhouse is lingering on the market, it’s probably not priced correctly, since surely the demand is there.