Market Report Brooklyn Residential
Data Highlights Cover Property: halstead.com WEB# 18921216# The median apartment price fell 3% in Brooklyn over the past year. Co-op prices rose in Brooklyn, while condo prices drifted lower. halstead.com WEB# 18960076 Brooklyn 1-4 family prices averaged $1,244,383, an 8% increase from 2017 s third quarter. halstead.com WEB# 18861682
All Brooklyn Cooperatives & Condominiums Cooperatives & Condominiums Average & $836,949 $720,000 $799,704 $669,000 $830,024 $680,000 $884,781 $694,000 $870,999 $700,000 $1,000,000 $900,000 $800,000 halstead.com WEB# 11886873 $700,000 $600,000 Apartments saw their median price fall 3% compared to a year ago. $500,000 The average apartment price reached $870,999. $400,000 Cooperative Average Price Per Room Condominium $144,037 $155,347 $993 $980 $160,000 $1,000 $150,000 $950 $140,000 $900 $130,000 $850 $120,000 $800 $110,000 $750 $100,000 $700 * Includes new development and resale apartments. 3Q18 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. Halstead 3
All Brooklyn 1-4 Family Houses Average & $1,155,149 $900,000 $1,081,271 $860,000 $1,130,063 $901,116 $1,156,765 $926,000 $1,244,383 $960,000 $1,300,000 $1,200,000 $1,100,000 halstead.com WEB# 17402342 $1,000,000 $900,000 Prices for 1-4 family houses averaged $1,244,383, 8% higher than a year ago. The median price posted a 7% gain from 2017 s third quarter. $800,000 $700,000 $493 $480 $486 $494 $535 $550 $525 $500 $475 $450 $425 $400 Halstead 4
Brooklyn Market Areas Brownstone Boerum Hill Brooklyn Heights Carroll Gardens Clinton Hill Cobble Hill North East Williamsburg Greenpoint Williamsburg North Side Williamsburg South Side Npage 8 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 Central Bedford-Stuyvesant Brownsville Bushwick Crown Heights East New York Stuyvesant Heights South Bath Beach Bay Ridge Bensonhurst Bergen Beach Borough Park Brighton Beach Canarsie Coney Island Dyker Heights East Flatbush Flatbush Flatlands Gerritsen Beach Gravesend Kensington Manhattan Beach Marine Park Midwood Mill Basin Sea Gate Sheepshead Bay Sunset Park Bpage 6 S Cpage 10 page 12
Brownstone Brooklyn Cooperatives & Condominiums Cooperatives & Condominiums Average & $1,138,682 $925,000 $1,078,721 $910,000 $1,195,376 $955,000 $1,304,832 $1,040,000 $1,194,181 $972,500 $1,400,000 $1,300,000 $1,200,000 halstead.com WEB# 18927025 $1,100,000 Both the average and median apartment prices rose 5% over the past year. Co-ops fueled pricing gains, as the average condo price per square foot fell compared to a year ago. $1,000,000 $900,000 $800,000 Cooperative Average Price Per Room Condominium $225,000 $216,539 $226,509 $1,300 $1,204 $1,193 $200,000 $1,200 $175,000 $1,100 $150,000 $1,000 $125,000 $900 $100,000 $800 $75,000 $700 Halstead 6
Brownstone Brooklyn 1-4 Family Houses Average AVERAGE && Median MEDIAN Sales SALES Price PRICE $2,564,327 $2,307,813 $2,431,206 $2,200,000 $2,366,820 $1,900,000 $2,599,527 $2,300,000 $2,890,641 $2,600,000 $3,000,000 $2,750,000 $2,500,000 halstead.com WEB# 18858233 $2,250,000 $2,000,000 The average price climbed to $2,890,641 for 1-4 family homes. $1,750,000 $1,500,000 $912 $890 $882 $881 $1,053 $1,050 $1,000 $950 $900 $850 $800 $750 Halstead 7
North Brooklyn Cooperatives & Condominiums Cooperatives & Condominiums Average & $1,099,174 $943,202 $1,104,565 $975,000 $1,097,183 $964,205 $1,089,588 $926,000 $1,113,587 $984,500 $1,300,000 $1,200,000 $1,100,000 halstead.com WEB# 18707719 $1,000,000 $900,000 The average apartment price ticked up 1% compared to the third quarter of 2017. $800,000 $700,000 At $984,500, the median price was 4% higher than a year ago. Condominium $1,194 $1,164 $1,250 $1,200 $1,150 $1,100 $1,050 $1,000 $950 Halstead 8
North Brooklyn 1-4 Family Houses AVERAGE Average & & Median MEDIAN Sales SALES Price PRICE $1,981,147 $1,800,000 $2,201,917 $2,105,000 $1,962,443 $1,825,000 $2,160,435 $2,125,000 $1,847,470 $1,826,301 $2,500,000 $2,250,000 $2,000,000 halstead.com WEB# 18203120 $1,750,000 $1,500,000 The average 1-4 family price fell 7% over the past year. $1,250,000 $1,000,000 $824 $1,005 $704 $914 $685 $1,100 $1,000 $900 $800 $700 $600 $500 Halstead 9
Central Brooklyn Cooperatives & Condominiums Cooperatives & Condominiums Average & $755,759 $740,000 $668,660 $678,500 $708,205 $680,000 $658,749 $659,000 $704,064 $622,021 $800,000 $700,000 $600,000 halstead.com WEB# 18857996 $500,000 $400,000 Apartment prices averaged $704,064, a 7% decline from 2017 s third quarter. $300,000 The median price fell to $622,021. $200,000 Condominium CONDOMINIUM $782 $807 $850 $800 $750 $700 $650 $600 $550 Halstead 10
Central Brooklyn 1-4 Family Houses Average & $916,983 $750,000 $889,497 $787,500 $885,042 $800,000 $938,696 $847,000 $1,040,034 $855,000 $1,150,000 $1,100,000 $1,000,000 halstead.com WEB# 19048996 A 13% gain was seen in the average price for 1-4 family homes over the past year. $900,000 $800,000 $700,000 $600,000 $364 $363 $366 $378 $409 $400 $375 $350 $325 $300 $275 $250 Halstead 11
South Brooklyn Cooperatives & Condominiums COOPERATIVES Cooperatives & Condominiums & CONDOMINIUMS Average & Price $449,505 $395,775 $458,575 $410,000 $483,397 $432,500 $475,037 $420,000 $470,825 $410,000 $500,000 $450,000 $400,000 halstead.com WEB# 18869218 $350,000 South Brooklyn apartments had a 5% higher average price than a year ago. $300,000 $250,000 Co-ops posted higher price increases than condos. $200,000 Cooperative COOPERATIVE Average Price Per Room CONDOMINIUM Condominium $95,000 $88,131 $97,374 $650 $595 $618 $90,000 $600 $85,000 $575 $80,000 $550 $75,000 $525 $70,000 $500 $65,000 $475 Halstead 12
South Brooklyn 1-4 Family Houses Average & $948,890 $846,500 $946,210 $830,000 $994,543 $860,500 $984,201 $860,000 $998,684 $860,000 $1,000,000 $950,000 $900,000 $850,000 $800,000 $750,000 $700,000 halstead.com WEB# 18175588 At $998,684, the average 1-4 family price was 5% above the third quarter of 2017. $500 $454 $458 $466 $468 $488 $475 $450 $425 $400 $475 $500 Halstead 13
OFFICES MANHATTAN PARK AVENUE 499 Park Avenue New York, NY 10022 212.734.0010 EAST SIDE 770 Lexington Avenue New York, NY 10065 212.317.7800 BROOKLYN BROOKLYN HEIGHTS 122 Montague Street Brooklyn, NY 11201 718.613.2000 NORTH SLOPE 76 Seventh Avenue Brooklyn, NY 11217 718.399.2222 CONNECTICUT DARIEN 671 Boston Post Road Darien, CT 06820 203.655.1418 NEW CANAAN - ELM STREET 183 Elm Street New Canaan, CT 06840 203.966.7800 NEW JERSEY HOBOKEN 200 Washington Street Hoboken, NJ 07030 201.478.6700 MONTCLAIR 635 Valley Road, Montclair, NJ 07030 973.744.6033 Prepared by Gregory Heym, Chief Economist, Halstead Brooklyn, LLC 2018 by Halstead Brooklyn, LLC. All Rights Reserved. This information may not be copied, used or distributed without Halstead s consent. While information is believed true, no guaranty is made of accuracy. WEST SIDE 408 Columbus Avenue New York, NY 10024 212.769.3000 VILLAGE 831 Broadway New York, NY 10003 212.381.6500 SOHO 451 West Broadway New York, NY 10012 212.381.4200 HARLEM 2169 Frederick Douglass Boulevard New York, NY 10026 212.381.2570 WASHINGTON HEIGHTS 819 West 187th Street New York, NY 10033 212.381.2452 BRONX RIVERDALE JOHNSON 3531 Johnson Avenue Riverdale, NY 10463 718.878.1700 RIVERDALE MOSHOLU 5626 Mosholu Avenue Riverdale, NY 10471 718.549.4116 PARK SLOPE 160 7th Avenue Brooklyn, NY 11215 718.878.1960 COBBLE HILL 162 Court Street Brooklyn, NY 11201 718.613.2020 BEDFORD STUYVESANT 1191 Bedford Avenue, Brooklyn, NY 11216 718.878.1750 STUYVESANT HEIGHTS 316 Stuyvesant Avenue, Brooklyn, NY 11233 718.613.2800 SOUTH SLOPE 1214 8th Avenue Brooklyn, NY 11215 718.878.1888 FORT GREENE 725 Fulton Street Brooklyn, NY 1127 718.613.2800 HUDSON VALLEY HUDSON 526 Warren Street Hudson, NY 12534 518.828.0181 NEW CANAAN - SOUTH AVENUE 6 South Avenue New Canaan, CT 06840 203,966.7772 ROWAYTON 140 Rowayton Avenue Rowayton, CT 06853 203.655.1418 GREENWICH 125 Mason Street Greenwich, CT 06830 203.869.8100 STAMFORD 1099 High Ridge Road Stamford, CT 06905 203.329.8801 WESTPORT 379 Post Road East Westport, CT 06880 203.221.0666 WILTON 21 River Road Wilton, CT 06897 203.762.8118 QUEENS LONG ISLAND CITY 47-12 Vernon Boulevard Queens, NY 1110 718.878.1800 HAMPTONS EAST HAMPTON 2 Newtown Lane East Hampton, NY 11937 631.324.6100 SOUTHAMPTON 31 Main Street Southampton, NY 11968 631.283.2883 CORPORATE COMMERCIAL SALES 770 Lexington Avenue New York, NY 10065 212.381.3208 DEVELOPMENT MARKETING 445 Park Avenue New York, NY 10022 212.521.5703 GLOBAL SERVICES 770 Lexington Avenue New York, NY 10065 212. 381.6521 MANAGEMENT COMPANY 770 Lexington Avenue, 7th floor New York, NY, 10065 212.508.7272 FOREST HILLS 108-23 Ascan Avenue Forest Hills, NY 11375 718-520-0303 Visit halstead.com for access to all of our reports, listings, neighborhood information and more.