Park Slope sits somewhat pretty

After long period of inactivity, the brownstone Brooklyn neighborhood sees uptick
By Melissa Dehncke McGill | January 15, 2010 10:21AM

From the January issue: If ever there were a Brooklyn neighborhood to lead the way for a rebound, it would be Park Slope. With its well-kept brownstones and its proximity to Prospect Park, Park Slope is routinely cited as one of the most desirable neighborhoods in the borough. But while it has seen a recent uptick in activity, even Park Slope has felt the market slide. Brokers interviewed for this month’s Q & A told The Real Deal that they saw more transactions in the final months of last year compared to the abysmal lack of trades before that. But they said that even properties that were “marginally overpriced” were still not getting the time of day from buyers. Part of the improvement can be traced back to the fact that inventory is down. That’s because Park Slope sellers who can avoid putting their properties on the market for the low prices are holding back. As one source put it, that low inventory is “an advantage for those that are currently listed.” For more on what’s happening with prices, sales volume and buyers in Park Slope, we turn to our panel of experts. more