Williamsburg has it all: playgrounds and nightlife, parks and boutiques, and a thriving real estate market. During the first five months of 2023, 173 residential real estate sales were closed in the Brooklyn neighborhood. Of those, 58% sold for $1 million-$3 million. Another 34% sold for less than $1 million, with the remaining 8% sold for $3 million-$8 million.
Along similar lines, of the 122 residential units for sale at the end of May 2023, 28% were priced at less than $1 million, with the majority—61%—asking $1 million-$3 million. The remaining 11% were priced at $3 million-$8 million.
For co-op units, the median asking price was $462,000. In comparison, the median asking price for condos was $1.46 million and for townhouses $4.32 million.
Of the 106 residential rental units available in Williamsburg at the end of May 2023, the plurality—44%—were available for $3,500-$5,000 a month. Monthly rent for another 38% was $5,000-$9,000. At the upper end of the scale, 11% rented for more than $9,000 a month. And at the lower end, the remaining 7% had monthly rent of $2,500-$3,500.
To look at rental costs another way, the median monthly rent for studio apartments was $3,870 and for one-bedroom units $4,425. For two-bedroom units, the median requested rent was $5,990 a month; for three-bedroom units, $7,250 a month. As for units with four or more bedrooms, the median monthly rent was $25,000.
