This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Ocean Hill Home Prices

The data below shows median sales prices for Ocean Hill Brooklyn homes, co-ops and condos as determined from New York City property records in December 2010. For the 3 months ending December 2010, the median sales price for all Ocean Hill homes and apartments was $315,000¹. A history of quarterly median sales prices is below. For a less volatile look at pricing, see the 12 month rolling median price data. Affordability based on income and recorded home sales is also calculated.

Quarterly Rolling Home Price History for Ocean Hill

Compared to the 3 months ending December 2009, the combined median price for the 3 month period ending December 2010 is 5.00% higher.

The quarterly rolling median price for all homes and apartments in brooklyn reached its most recent peak of $622,500 in January 2007. At $315,000, the current quarterly rolling median price is now 49.40% lower. When the quarterly rolling median price hit its lowest point (to date) of $275,400 in November 2009 it was 55.76% off the most recent peak. It has since climbed 14.38% from that post peak low.

Quarterly Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined

History of Quarterly Rolling Median Sales Prices for the Last Year

12 Month Rolling Home Price History for Ocean Hill

The 12 month rolling median price for all homes and apartments in brooklyn reached its most recent peak of $577,350 in October 2007. At $319,552, the current 12 month rolling median price is now 44.65% lower. When the 12 month rolling median price hit its lowest point (to date) of $300,000 in August 2010 it was 48.04% off the most recent peak. It has since climbed 6.52% from that post peak low.

12 Month Rolling Median Sales Prices: Houses, CO-OPs, Condos, Combined

History of Rolling Median Sales Prices for the Last Year

Ocean Hill Home Affordability

In 2007, the median household income in Brooklyn was $40,942². Home affordability guidelines suggest that no more than 30% of household income be spent servicing a home loan. For the median Brooklyn household, this would have meant that a monthly mortgage payment should not have exceeded $1,024 using the 2007 average mortgage rate of 6.34%³. Combining this with 2007 property sales records, we can calculate that the median income household could have potentially afforded approximately 7.91% of the homes and apartments sold in Ocean Hill in all of 2007.