Harlem Brownstone Q3 2023 Market Report

The Harlem brownstone market has seen a significant downturn in the last three years. In the first three quarters of 2023, sales volume dropped 53.42% from the same period of 2022 and 38.43% from 2019, while average prices in 2023 fell 15.79%, with price per square foot dropping 14.51%. Transactions plummeted 44.68% year-over-year and 24.64% compared to pre-pandemic numbers; although there is demand for new inventory sellers must take into account increased interest rates as buyers’ carrying costs have gone up substantially.

Despite this discouraging outlook, savvy buyers can still find great opportunities when they recognize current trends and adjust for higher interest rates on their carrying costs. Even though the market is expected to remain soft until consumer sentiment or lower interest rates come into play, keeping track of new developments will allow both buyers and sellers to capitalize in an ever-changing environment. Therefore, stay informed and be patient – with persistence and follow through, it is possible to make a successful purchase or sale today!


If you’re interested in selling or buying a brownstone in Harlem, simply click the button below to schedule a call or email me at [email protected].

About the Author
Since the start of the pandemic, Stanley Montfort has played a crucial role in facilitating over one billion dollars worth of brownstone sales in New York City. He is a recognized expert in the city's brownstone and townhouse market, with extensive experience in both sell-side and buy-side brownstone transactions, thanks to his military and law background.

Stanley honed his real estate skills at Leslie J. Garfield, where he established the Harlem Townhouse Market, and has assisted in numerous co-ownership transactions, including more complicated deals involving SROs, seller financing, negotiating with tenants, and leaving all parties satisfied.

With a vibrant and diversified career spanning the legal, banking, and technology industries, Stanley brings a wealth of experience to help his clients achieve their real estate objectives. He applies innovative marketing strategies, strategic thinking, and utmost professionalism and integrity to every deal. As a savvy negotiator with strong analytical skills, Stanley has successfully navigated even the most challenging real estate deals to deliver the desired results.

Moreover, Stanley provides a personalized and engaging real estate experience marked by complete transparency, data-driven financial decisions, and honest conversations. He strives to earn his clients' trust and is committed to ensuring that their needs are fully understood and executed without compromise.

Originally from New Jersey, Stanley is a graduate of Fordham University, where he earned his JD and Masters in International, Political, Economy, and Development. Whether you are looking to earn top dollar for your property or find your dream home, Stanley is the no-brainer choice to help you achieve your real estate goals.