A discussion post on StreetEasy poses the question: Is Dumbo worse off than other areas of Brooklyn? According to SteetEasy data, median listings in Dumbo have increased to $1,100,000 from $1,025,000 in March, and median rents are at its peak at $4,750 per month. Of course listings don’t mean much, as they don’t reflect the closing price at all, and some of the more aggressive listings have lowered their price lately. Also, Dumbo is a relatively small neighborhood, so high end penthouses such as the $7million 1 Main Street condo will skew data significantly. We periodically report the lowest priced condos and the entry price in Dumbo is still approximately $550,000. I don’t have the current statistics and while we won’t know how Dumbo is faring compared to other parts of Brooklyn and Manhattan, prices seem to be holding steady. But it depends on who you talk to.
What do you think?