Market Report Brooklyn Residential
Data Highlights Cover Property: BrownHarrisStevens.com WEB# 19024015 The average apartment price in Brooklyn was slightly lower than a year ago. Prices were higher over the past year for co-ops, but fell for condos. virtually staged BrownHarrisStevens.com WEB# 19161387 Both the average and median prices rose for 1-3 family houses compared to 2017 s fourth quarter. BrownHarrisStevens.com WEB# 19157887
All Brooklyn Cooperatives & Condominiums Cooperatives & Condominiums Average & $798,095 $662,881 $827,561 $672,045 $878,534 $688,000 $851,398 $699,000 $796,856 $670,000 $1,000,000 $900,000 $800,000 BrownHarrisStevens.com WEB# 18950525 $700,000 $600,000 $500,000 $400,000 BrownHarrisStevens.com WEB# 18421269 Cooperative Average Price Per Room Condominium $142,287 $155,295 $950 $923 Apartment prices averaged $796,856, $160,000 $150,000 $1,000 $950 just below last year s level. $140,000 $900 $130,000 $850 $120,000 $800 Co-op prices rose compared to a year ago, $110,000 $750 while condo prices drifted lower. * Includes new development and resale apartments. 4Q18 data is preliminary and subject to revision in future reports. Data from the prior four quarters has been revised to include Sales recorded after our initial reports were released. $100,000 $700 Brown Harris Stevens 3
All Brooklyn 1-3 Family Houses Average & $1,029,877 $825,000 $1,072,333 $861,300 $1,095,710 $857,000 $1,148,720 $887,000 $1,142,184 $950,000 $1,300,000 $1,200,000 $1,100,000 $1,000,000 $900,000 $800,000 $700,000 BrownHarrisStevens.com WEB# 18899879 $477 $484 $491 $531 $537 $550 $525 $500 $475 $450 $425 The average price for a 1-3 family $400 house rose to $1,142,184, up from $1,029,877 a year ago. Brown Harris Stevens 4
Brooklyn Market Areas Brownstone Boerum Hill Brooklyn Heights Carroll Gardens Clinton Hill Cobble Hill Columbia Street Waterfront District Ditmas Park Downtown Brooklyn Dumbo Fort Greene Gowanus Greenwood Heights Park Slope Prospect Heights Prospect Park South Prospect-Lefferts Gardens Red Hook South Slope Vinegar Hill Windsor Terrace North East Williamsburg Greenpoint Williamsburg North Side Williamsburg South Side South Bath Beach Bay Ridge Bensonhurst Bergen Beach Borough Park Brighton Beach Canarsie Coney Island Dyker Heights East Flatbush Flatbush Flatlands Gerritsen Beach Gravesend Bpage 6 Npage 8 Cpage 10 Central Bedford-Stuyvesant Brownsville Bushwick Crown Heights East New York Stuyvesant Heights Kensington Manhattan Beach Marine Park Midwood Mill Basin Sea Gate Sheepshead Bay Sunset Park S page 12
Brownstone Brooklyn Cooperatives & Condominiums Cooperatives & Condominiums Average & $1,091,390 $900,000 $1,192,906 $939,219 $1,299,870 $999,950 $1,178,422 $950,000 $1,144,788 $933,500 $1,400,000 $1,300,000 $1,200,000 BrownHarrisStevens.com WEB# 18946113 $1,100,000 $1,000,000 $900,000 $800,000 BrownHarrisStevens.com WEB# 18892089 Cooperative Average Price Per Room Condominium $225,000 $216,412 $223,216 $1,300 $1,188 $1,163 The median apartment price rose 4% over the past year. $200,000 $175,000 $150,000 $1,200 $1,100 $1,000 $125,000 $900 While co-op prices were above 4Q17 levels, $100,000 $75,000 $800 $700 the average condo price per square foot fell slightly. Brown Harris Stevens 6
Brownstone Brooklyn 1-3 Family Houses Average AVERAGE && Median MEDIAN Sales SALES Price PRICE $2,263,541 $2,100,000 $2,236,306 $1,860,000 $2,504,079 $2,210,000 $2,758,272 $2,475,000 $2,620,779 $2,300,000 $3,000,000 $2,750,000 $2,500,000 $2,250,000 $2,000,000 $1,750,000 $1,500,000 BrownHarrisStevens.com WEB# 19246297 $865 $877 $858 $1,071 $940 $1,050 $1,000 $950 $900 $850 Prices for 1-3 family homes averaged $940 per $800 square foot, a 9% increase from the fourth $750 quarter of 2017. Brown Harris Stevens 7
North Brooklyn Cooperatives & Condominiums Cooperatives & Condominiums Average & $1,071,643 $945,457 $1,095,371 $975,000 $1,129,936 $955,000 $1,116,287 $975,000 $1,084,636 $950,000 $1,300,000 $1,200,000 $1,100,000 BrownHarrisStevens.com WEB# 19326086 $1,000,000 $900,000 $800,000 $700,000 Condominium $1,176 $1,131 $1,250 $1,200 $1,150 $1,100 $1,050 Both the average and median $1,000 apartment prices came in slightly higher than last year s levels. $950 Brown Harris Stevens 8
North Brooklyn 1-3 Family Houses AVERAGE Average & & Median MEDIAN Sales SALES Price PRICE $2,034,076 $2,035,000 $1,867,738 $1,800,000 $2,019,644 $2,030,000 $1,937,608 $1,900,000 $2,011,875 $1,790,000 $2,500,000 $2,250,000 $2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $1,025 $702 $914 $801 $964 $1,100 $1,000 $900 $800 $700 $600 The average 1-3 family price was 1% lower than 2017 s fourth quarter. $500 Brown Harris Stevens 9
Central Brooklyn Cooperatives & Condominiums Cooperatives & Condominiums Average & $684,073 $681,000 $692,281 $671,068 $694,904 $697,501 $721,168 $659,500 $740,066 $691,595 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 Condominium CONDOMINIUM $800 $778 $850 $800 $750 At $740,066, the average apartment price was 8% higher than a year ago. $700 $650 $600 $550 The median price rose 2% to $691,595. Brown Harris Stevens 10
Central Brooklyn 1-3 Family Houses Average & $847,114 $752,000 $854,610 $770,000 $886,780 $790,000 $982,696 $820,000 $902,736 $846,500 $1,150,000 $1,100,000 $1,000,000 $900,000 $800,000 $700,000 $600,000 BrownHarrisStevens.com WEB# 18455866 $365 $366 $376 $414 $414 $400 $375 $350 $325 $300 $275 1-3 family house prices averaged 7% more than a year ago. $250 Brown Harris Stevens 11
South Brooklyn Cooperatives & Condominiums COOPERATIVES Cooperatives & Condominiums & CONDOMINIUMS Average & Price $464,323 $415,000 $485,893 $436,760 $474,007 $416,370 $471,170 $420,000 $490,149 $446,160 $500,000 $450,000 $400,000 BrownHarrisStevens.com WEB# 18759452 $350,000 $300,000 $250,000 $200,000 Cooperative COOPERATIVE Average Price Per Room CONDOMINIUM Condominium $95,000 $89,118 $97,334 $700 $604 $691 The average apartment price of $490,149 was a 6% improvement from 2017 s fourth quarter. $90,000 $85,000 $80,000 $75,000 $675 $650 $625 $600 $70,000 $575 Condo prices averaged 14% more per $65,000 $550 square foot than a year ago. Brown Harris Stevens 12
South Brooklyn 1-3 Family Houses Average & $913,508 $800,000 $954,132 $837,000 $927,757 $820,000 $934,215 $825,000 $991,030 $900,000 $1,000,000 $950,000 $900,000 BrownHarrisStevens.com WEB# 18654453 $850,000 $800,000 $750,000 $700,000 $454 $465 $466 $488 $503 $500 $475 $450 $425 $400 $475 The average price rose 8% over the $500 past year to $991,030. Brown Harris Stevens 13
Contact us Madison Avenue 790 Madison Avenue Caroline E. Y. Guthrie Prepared by Gregory Heym, Chief Economist, Brown Harris Stevens. 2019 by Brown Harris Stevens. All Rights Reserved. This information may not be copied, used or distributed without Brown Harris Stevens consent. While information is believed true, no guaranty is made of accuracy. East Side West Side 1926 Broadway Kevin Kovesci, EVP CENTRAL PARK WEST CENTRAL PARK 5TH AVENUE 445 Park Avenue Bess Freedman, CEO Hall F. Willkie, President Ruth McCoy, EVP Neil M. Laurine, EVP BHS Residential Management Paul J. Herman, President Residential Management LLC Downtown 130 Fifth Avenue Stephen Klym, EVP Brown Harris Stevens Development Marketing 445 Park Avenue Stephen Kliegerman, President, Development Marketing Brooklyn Heights 129 Montague Street Christopher Thomas, EVP Park Slope 244 Fifth Avenue Camille Logan, EVP Tribeca 43 North Moore Stephen Klym, EVP Park Slope 100 Seventh Avenue Camille Logan, EVP 212.906.9200