Conflicting Ideas On The 2012-2013 Housing Market In Kensington & Ditmas Park

As people who compile real estate roundups on a weekly basis and are consistently surprised by how the rapidly the reasonably-priced apartment pool is narrowing, we just assumed prices on local residential properties for sale were rising accordingly (a la 114 Wesminster Road, 147 Rugby Road, the gorgeous but worse for wear 551 E 19th Street, which apparently just closed at above the $1.399 million asking, and the asking price on 100 Rugby Road)–but a new report from the Daily News, brought to our attention by neighbor James Heineman, says otherwise.

The text of the article says for all the Brooklyn neighborhoods in which sale prices soared from 2012-2013, Ditmas Park and Kensington actually saw some price cuts with 17% and 4% drops respectively.

These decreases, says the paper, left 2013 Ditmas Park median home prices at $375,000 and Kensington ones at $250,000. The accompanying map, however, says the median home price in both areas marked 11226 rose 9% to $361,338 over the same time period, and both areas marked 11218 dropped 7% to $330,167.

The discrepancies are confusing between the neighborhood labels vs zip codes we’d attribute to each, but then again, there are a lot of different names and overlapping “borders” for our area. If you’ve been looking to buy in our area, have you noticed in increase or fall in 11226 and 11218 home prices since starting your search?