Market Report Brooklyn Residential
Data Highlights Cover Property: BrownHarrisStevens.com WEB# 18689997 Brooklyn apartment prices averaged $869,587 in the second quarter, 4% less than a year ago. New development prices averaged 11% less than a year ago, while resale units saw a slight increase. BrownHarrisStevens.com WEB# 18235422 The average townhouse price rose 6% over the past year to $1,153,079. BrownHarrisStevens.com WEB# 18046528
All Brooklyn Cooperatives & Condominiums Cooperatives & Condominiums Average & $910,028 $735,000 $837,298 $720,000 $799,067 $668,000 $832,458 $680,000 $869,587 $683,000 $1,000,000 $900,000 $800,000 BrownHarrisStevens.com WEB# 18421269 $700,000 $600,000 $500,000 $400,000 Cooperative Average Price Per Room Condominium $140,818 $141,581 $974 $976 $150,000 $1,000 $140,000 $950 The average apartment price was 4% lower than 2017 s second quarter. New development apartments experienced an 11% decline in their average price. * Includes new development and resale apartments. 2Q18 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. $130,000 $120,000 $110,000 $100,000 $90,000 $900 $850 $800 $750 $700 Brown Harris Stevens 3
All Brooklyn 1-4 Family Houses Average & $1,087,176 $850,000 $1,155,149 $900,000 $1,081,271 $860,000 $1,129,821 $900,558 $1,153,079 $927,000 $1,200,000 $1,100,000 $1,000,000 BrownHarrisStevens.com WEB# 17589852 $900,000 $800,000 $700,000 $600,000 $474 $493 $480 $486 $492 $525 $500 $475 $450 $425 $400 Townhouse prices averaged $1,153,079, a 6% gain from a year ago. $375 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 & $1,293,270 $975,000 $1,138,682 $925,000 $1,079,076 $907,500 $1,199,802 $960,000 $1,256,816 $961,366 $1,400,000 $1,300,000 $1,200,000 BrownHarrisStevens.com WEB# 18583145 $1,100,000 $1,000,000 $900,000 $800,000 BrownHarrisStevens.com WEB# 18295321 Cooperative Average Price Per Room Condominium $221,081 $217,114 $1,226 $1,213 $225,000 $1,300 $200,000 $1,200 $175,000 $1,100 $150,000 $1,000 At $1,256,816, the average apartment price was 3% lower than a year ago. $125,000 $900 Prices were lower for both co-ops and condos compared to 2017 s second quarter. $100,000 $75,000 $800 $700 Brown Harris Stevens 6
Brownstone Brooklyn 1-4 Family Houses Average AVERAGE && Median MEDIAN Sales SALES Price PRICE $2,459,798 $2,138,500 $2,564,327 $2,307,813 $2,431,206 $2,200,000 $2,369,003 $1,900,000 $2,688,422 $2,350,000 $2,750,000 $2,500,000 $2,250,000 BrownHarrisStevens.com WEB# 18654048 $2,000,000 $1,750,000 $1,500,000 $1,250,000 $916 $912 $890 $883 $899 $950 $900 $850 $800 $750 Both the average and median townhouse prices posted gains compared to a year ago. $700 $650 Brown Harris Stevens 7
North Brooklyn Cooperatives & Condominiums Cooperatives & Condominiums Average & $1,041,569 $901,583 $1,099,174 $943,202 $1,104,565 $975,000 $1,101,942 $968,410 $1,106,814 $938,000 $1,300,000 $1,200,000 $1,100,000 BrownHarrisStevens.com WEB# 18571721 $1,000,000 $900,000 $800,000 $700,000 Cooperative Average Price Per Room $1,070 $1,174 $1,250 $1,200 $1,150 Apartment prices averaged $1,106,814, a 6% improvement over the past year. $1,100 $1,050 Condos led the way, as their average price per square foot was 10% higher than the second quarter of 2017. $1,000 $950 Brown Harris Stevens 8
North Brooklyn 1-4 Family Houses AVERAGE Average & & Median MEDIAN Sales SALES Price PRICE $1,849,458 $1,750,000 $1,981,147 $1,800,000 $2,201,917 $2,105,000 $1,962,443 $1,825,000 $2,052,210 $2,200,000 $2,500,000 $2,250,000 $2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $847 $824 $1,005 $704 $923 $1,100 $1,000 $900 $800 $700 The average townhouse price per square foot was 9% higher than a year ago. $600 $500 Brown Harris Stevens 9
Central Brooklyn Cooperatives & Condominiums Cooperatives & Condominiums Average & $747,823 $700,000 $755,759 $740,000 $668,660 $678,500 $708,205 $680,000 $652,767 $635,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 Cooperative CONDOMINIUM Average Price Per Room $758 $807 $850 $800 $750 $700 Apartment prices averaged 13% less than a year ago. $650 $600 The median price of $635,000 was 9% below last year s figure. $550 Brown Harris Stevens 10
Central Brooklyn 1-4 Family Houses Average & $887,347 $750,000 $916,983 $750,000 $889,497 $787,500 $885,138 $800,000 $936,498 $849,450 $950,000 $900,000 $850,000 BrownHarrisStevens.com WEB# 18455866 $800,000 $750,000 $700,000 $650,000 $355 $364 $363 $366 $374 $400 $375 $350 $325 $300 $275 A 6% increase was posted in the average townhouse price. $250 Brown Harris Stevens 11
South Brooklyn Cooperatives & Condominiums COOPERATIVES Cooperatives & Condominiums & CONDOMINIUMS Average & Price $466,366 $375,000 $449,817 $396,550 $458,575 $410,000 $484,644 $433,000 $474,938 $400,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 Cooperative COOPERATIVE Average Price Per Room CONDOMINIUM Condominium $85,187 $94,634 $582 $613 $95,000 $650 $90,000 $600 $85,000 $575 $80,000 $550 The median apartment price was 7% higher than a year ago. $75,000 $70,000 $525 $500 Prices rose for both co-ops and condos. $65,000 $475 Brown Harris Stevens 12
South Brooklyn 1-4 Family Houses Average & $914,181 $799,500 $948,890 $846,500 $946,210 $830,000 $994,543 $860,500 $974,823 $850,000 $1,000,000 $950,000 $900,000 BrownHarrisStevens.com WEB# 18521182 $850,000 $800,000 $750,000 $700,000 $440 $454 $458 $466 $465 $475 $450 $425 $400 $375 Over the past year the average townhouse price rose 7% to $974,823. $350 $325 Brown Harris Stevens 13
Contact us Madison Avenue 790 Madison Avenue Caroline E. Y. Guthrie Prepared by Gregory Heym, Chief Economist, Brown Harris Stevens. 2018 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 Hall F. Willkie, Co-President Bess Freedman, Co-President Ruth McCoy, EVP Richard Ferrari, EVP Neil M. Laurine, EVP 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 100 Seventh Avenue Camille Logan, EVP Sarah Orlinsky-Maitland, EVP Tribeca 43 North Moore Stephen Klym, EVP 212.906.9200