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Market report · September 2026 The $1 million median is not your neighbourhood | ||||||||||||||||||
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Every headline you have read about Brooklyn this summer used the same number: a $1 million median sale price, up 4.3% over last year. If you own a house in Canarsie or East Flatbush, that number has almost nothing to do with you — and believing it is the fastest way to mis-price your home. | ||||||||||||||||||
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The million-dollar median is carried by Williamsburg, Park Slope, DUMBO and Brooklyn Heights, where medians run from $1.3M to $2.7M. Our side of the borough trades in a completely different band. Here is what actually sold. | ||||||||||||||||||
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Single-family medians, our neighbourhoods
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Two things jump out of that table. Canarsie’s single-family median is $810,000 across 209 recorded sales — that is real depth, not three houses making a statistic. And East Flatbush has appreciated 6.4% this year, faster than the borough as a whole. | ||||||||||||||||||
The two-family premium is the real story | ||||||||||||||||||
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In Flatbush, two-family homes carry a median of $880,000 and draw the most buyer interest of any property type. That is roughly $165,000 above the single-family median in neighbouring East Flatbush — for a building on the same kind of lot, on the same kind of block. | ||||||||||||||||||
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The reason is arithmetic, not fashion. At today’s rates a buyer needs help covering the payment, and a rental unit is the only home improvement that sends money back every month. If your certificate of occupancy says two family, that is the headline of your listing. | ||||||||||||||||||
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Rates sat at 6.71% in the first week of September, against 6.50% a year ago — slightly worse, not dramatically so. More important is the supply figure: 3.8 months. A balanced market carries six. We are still short of homes, which is why well-priced houses are moving in about three weeks while over-priced ones sit for three months. | ||||||||||||||||||
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What I have on the market right now
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Notice the spread — $399,000 in Crown Heights to $890,000 in East New York. Same borough, same month, more than double the price. That range is exactly why a borough-wide median cannot tell you what your house is worth. | ||||||||||||||||||
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