Real estate: Is it time to buy?

Brooklyn

Illustration: Andy Rash

Brooklyn Heights
2-bdrms start at $585,000
Change from 2008 –26.6%
Schools P.S. 8 (Robert Fulton) has made a comeback in recent years, thanks to a respected new principal and lots of involved parents.
In the long run “Prices here have already softened significantly,” Staniford says, adding that he’d “like to see them come down a bit more.” He suggests watching the area closely over the next six months or so. “I think it will be one of the leaders of the rebound.”

Cobble Hill/Carroll Gardens
2-bdrms start at $495,000
Change from 2008 –6%
Schools P.S. 29 (John Harrigan) and P.S. 58 (Carroll) are among these bordering neighborhoods’ stellar choices.
In the long run Prices have weakened only slightly in these coveted nabes since the boom. But if you’re die-hard, Staniford suggests waiting patiently in the wings: “I don’t think it’s immune. There are going to be some good opportunities out there.” You’ll just need to be in the right place—and ready to pounce—at the right time.

Williamsburg
2-bdrms start at $550,000
Change from 2008 –1%
Schools P.S. 132 (Conselyea) offers an increasingly progressive curriculum and rock-solid leadership; P.S. 250 (George Lindsay School) has great attendance stats and high test scores. The pre-K program at P.S. 84 (Jose De Diego) is a model for schools citywide.
In the long run “Over the last ten years, many pioneering hipsters have started families,” Kim says. “Resources and amenities followed, and more are on the way. The area saw a ton of development during the boom, and a significant amount of new construction is unsold. Developers are going to offer deals to move this inventory.”

Park Slope
2-bdrms start at $475,000
Change from 2008 +1%
Schools The famed P.S. 321 (William Penn) is here, and P.S. 39 (Henry Bristow), P.S. 107 (John W. Kimball), P.S. 282 (Park Slope) and P.S. 372 (The Children’s School) also get high grades.
In the long run This is one classic family neighborhood that “probably went higher than it should have,” Steele says, and asking figures have yet to come down. “Prices on prime blocks should stay solid, but still, margins will get hit—think what Curbed calls the G-Slope, where Park Slope gives way to Gowanus at Fourth Avenue.”

South Slope/Windsor Terrace/Kensington
2-bdrms start at $329,000
Change from 2008 –20%
Schools Teeming with kids, these ’hoods are chock-full of notable schools, including P.S. 10 (Magnet School for Math, Science and Design Technology), P.S. 130 (Parkside) and P.S. 154 (Museum Alliance for Science and Technology).
In the long run “There has been a lot of new construction in recent years,” Kim says, which should lead to more competition among sellers. The area’s proximity to Prospect Park makes it desirable even in a diving market.

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