Fourth Quarter 2018 Market Report Brooklyn Residentialmedia.halstead.com/pdf/4Q18-MR-Bklyn-HALSTEAD.pdf · for condos. Both the average and median prices . rose for 1-3 family

Fourth Quarter 2018 Market Report Brooklyn Residential

Data Highlights

Cover Property: halstead.com WEB# 19046399

halstead.com WEB# 19258054


Fourth Quarter 2018

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.

Both the average and median prices rose for 1-3 family

houses compared to 2017’s fourth quarter.


Condominium

Cooperatives & Condominiums

Cooperative

Average & Median Sales Price

* 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.

All Brooklyn Cooperatives & Condominiums

Apartment prices averaged $796,856, just below last year’s level.

Co-op prices rose compared to a year ago, while condo prices drifted lower.


Halstead 3

Fourth Quarter 2018


Average Price Per Room Average Price Per Square Foot

Average Sales Price Median Sales Price

$1,000,000

$900,000

$800,000

$700,000

$600,000

$400,000

$500,000

$851,398 $699,000

3rd Q18

$878,534 $688,000

2nd Q18

$827,561 $672,045

1st Q18

$798,095 $662,881

4th Q17

$796,856 $670,000

4th Q18

$1,000

$950

$900

$850

$800

$700

$750

$700

$142,287 $155,295 $950 $923

4th Q17 4th Q18 4th Q17 4th Q18

$160,000

$150,000

$140,000

$130,000

$120,000

$100,000

$110,000


Average Price Per Square Foot


All Brooklyn 1-3 Family Houses

The average price for a 1-3 family house rose to $1,142,184, up from $1,029,877 a year ago.


Halstead 4

Fourth Quarter 2018

Average Sales Price

$1,142,184 $950,000

4th Q18

$1,095,710 $857,000

2nd Q18

$1,072,333 $861,300

1st Q18

$1,029,877 $825,000

4th Q17

$1,300,000

$1,200,000

$1,100,000

$1,000,000

$900,000

$700,000

$800,000

$531

3rd Q18

$537

4th Q18

$477

4th Q17

$484

1st Q18

$491

2nd Q18

$550

$525

$500

$475

$450

$400

$425

$1,148,720 $887,000

3rd Q18

Median Sales Price

BrownstoneBoerum 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

CentralBedford-Stuyvesant

Brownsville

Bushwick

Crown Heights

East New York

Stuyvesant Heights

NorthEast Williamsburg

Greenpoint

Williamsburg North Side

Williamsburg South Side

SouthBath 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

B

S

C

Npage 8

page 10

page 6

page 12

Brooklyn Market Areas

Condominium


Cooperative

Brownstone Brooklyn Cooperatives & Condominiums

The median apartment price rose 4% over the past year.

While co-op prices were above 4Q17 levels, the average condo price per square foot fell slightly.


Halstead 6

Fourth Quarter 2018

Average Price Per Room Average Price Per Square Foot


$1,400,000

$1,300,000

$1,200,000

$1,100,000

$1,000,000

$800,000

$900,000

$1,178,422 $950,000

3rd Q18

$1,192,906 $939,219

1st Q18

$1,091,390 $900,000

4th Q17

$1,144,788 $933,500

4th Q18

$1,299,870 $999,950

2nd Q18

$225,000

$200,000

$175,000

$150,000

$125,000

$75,000

$100,000

$1,300

$1,200

$1,100

$1,000

$900

$700

$800

$1,188 $1,163

4th Q17 4th Q18

$216,412 $223,216

4th Q17 4th Q18



Brownstone Brooklyn 1-3 Family Houses

AVERAGE & MEDIAN SALES PRICE

Prices for 1-3 family homes averaged $940 per square foot, a 9% increase from the fourth quarter of 2017.




Halstead 7

Fourth Quarter 2018


$2,750,000

$2,500,000

$2,250,000

$2,000,000

$1,750,000

$1,500,000

$3,000,000

$2,758,272 $2,475,000

3rd Q18

$2,236,306 $1,860,000

1st Q18

$2,504,079 $2,210,000

2nd Q18

$2,620,779 $2,300,000

4th Q18

$2,263,541 $2,100,000

4th Q17

$1,050

$1,000

$950

$900

$850

$750

$800

$858

2nd Q18

$1,071

3rd Q18

$940

4th Q18

$865

4th Q17

$877

1st Q18

North Brooklyn Cooperatives & Condominiums

Both the average and median apartment prices came in slightly higher than last year’s levels.



Condominium


Halstead 8

Fourth Quarter 2018


$1,300,000

$1,200,000

$1,100,000

$1,000,000

$900,000

$700,000

$800,000

$1,116,287 $975,000

3rd Q18

$1,129,936 $955,000

2nd Q18

$1,095,371 $975,000

1st Q18

$1,071,643 $945,457

4th Q17

$1,084,636 $950,000

4th Q18

$1,176

4th Q17

$1,131

4th Q18

$1,250

$1,200

$1,150

$1,100

$1,050

$950

$1,000






North Brooklyn 1-3 Family Houses


Halstead 9

The average 1-3 family price was 1% lower than 2017’s fourth quarter.



Fourth Quarter 2018


$2,250,000

$2,000,000

$1,750,000

$1,500,000

$1,250,000

$1,000,000

$1,937,608 $1,900,000

3rd Q18

$1,867,738 $1,800,000

1st Q18

$2,019,644 $2,030,000

2nd Q18

$2,011,875 $1,790,000

4th Q18

$2,500,000

$2,034,076 $2,035,000

4th Q17

$1,100

$1,000

$900

$800

$700

$500

$600

$914

2nd Q18

$801

3rd Q18

$964

4th Q18

$1,025

4th Q17

$702

1st Q18

CONDOMINIUM

Central Brooklyn Cooperatives & Condominiums

At $740,066, the average apartment price was 8% higher than a year ago.

The median price rose 2% to $691,595.




Halstead 10

Condominium

Fourth Quarter 2018


$800,000

$700,000

$600,000

$500,000

$400,000

$200,000

$300,000

$721,168 $659,500

3rd Q18

$694,904 $697,501

2nd Q18

$692,281 $671,068

1st Q18

$684,073 $681,000

4th Q17

$740,066 $691,595

4th Q18

$850

$800

$750

$700

$650

$550

$600

$800 $778

4th Q17 4th Q18


Average Price Per Square Foothalstead.com WEB# 18857996

Central Brooklyn 1-3 Family Houses

1-3 family house prices averaged 7% more than a year ago.




Halstead 11

Fourth Quarter 2018


$1,100,000

$1,000,000

$900,000

$800,000

$700,000

$600,000

$982,696 $820,000

3rd Q18

$854,610 $770,000

1st Q18

$886,780 $790,000

2nd Q18

$847,114 $752,000

4th Q17

$1,150,000

$902,736 $846,500

4th Q18

$400

$375

$350

$325

$300

$250

$275

$376

2nd Q18

$414

3rd Q18

$414

4th Q18

$365

4th Q17

$366

1st Q18



CONDOMINIUM

COOPERATIVES & CONDOMINIUMS

COOPERATIVE


South Brooklyn Cooperatives & Condominiums

The average apartment price of $490,149 was a 6% improvement from 2017’s fourth quarter.

Condo prices averaged 14% more per square foot than a year ago.



Cooperative


Condominium

Halstead 12

Fourth Quarter 2018


$500,000

$450,000

$400,000

$350,000

$300,000

$200,000

$250,000

$675

$700

$650

$625

$600

$575

$550

Average Price Per Square FootAverage Price Per Room

$89,118 $97,334

4th Q17 4th Q18

$604 $691

4th Q17 4th Q18

$95,000

$90,000

$85,000

$80,000

$75,000

$65,000

$70,000

$474,007 $416,370

2nd Q18

$485,893 $436,760

1st Q18

$464,323 $415,000

4th Q17

$490,149 $446,160

4th Q18

$471,170 $420,000

3rd Q18

Average Price Per Room Average Price Per Square Foothalstead.com WEB# 19107214

South Brooklyn 1-3 Family Houses

The average price rose 8% over the past year to $991,030.



Halstead 13

Fourth Quarter 2018


$950,000

$900,000

$850,000

$800,000

$750,000

$700,000

$934,215 $825,000

3rd Q18

$954,132 $837,000

1st Q18

$927,757 $820,000

2nd Q18

$913,508 $800,000

4th Q17

$991,030 $900,000

4th Q18

$1,000,000

$500

$475

$450

$425

$400

$500

$475

$466

2nd Q18

$488

3rd Q18

$503

4th Q18

$454

4th Q17

$465

1st Q18


Visit halstead.com for access to all of our reports, listings, neighborhood information and more.

MANHATTANPARK AVENUE499 Park AvenueNew York, NY 10022212.734.0010

EAST SIDE770 Lexington AvenueNew York, NY 10065212.317.7800

WEST SIDE408 Columbus AvenueNew York, NY 10024212.769.3000

VILLAGE831 BroadwayNew York, NY 10003212.381.6500

SOHO451 West BroadwayNew York, NY 10012212.381.4200

HARLEM2169 Frederick Douglass BoulevardNew York, NY 10026212.381.2570

WASHINGTON HEIGHTS819 West 187th StreetNew York, NY 10033212.381.2452

BRONXRIVERDALE JOHNSON3531 Johnson AvenueRiverdale, NY 10463718.878.1700

RIVERDALE MOSHOLU5626 Mosholu AvenueRiverdale, NY 10471718.549.4116

BROOKLYNBROOKLYN HEIGHTS122 Montague StreetBrooklyn, NY 11201718.613.2000

NORTH SLOPE76 Seventh AvenueBrooklyn, NY 11217718.399.2222

PARK SLOPE160 7th AvenueBrooklyn, NY 11215718.878.1960

COBBLE HILL162 Court StreetBrooklyn, NY 11201718.613.2020

BEDFORD STUYVESANT1191 Bedford Avenue, Brooklyn, NY 11216718.878.1750 STUYVESANT HEIGHTS316 Stuyvesant Avenue, Brooklyn, NY 11233718.613.2800

SOUTH SLOPE1214 8th AvenueBrooklyn, NY 11215718.878.1888

FORT GREENE725 Fulton StreetBrooklyn, NY 1127718.613.2800

HUDSON VALLEYHUDSON526 Warren StreetHudson, NY 12534518.828.0181

CONNECTICUTDARIEN671 Boston Post RoadDarien, CT 06820203.655.1418

NEW CANAAN - ELM STREET183 Elm StreetNew Canaan, CT 06840203.966.7800

NEW CANAAN - SOUTH AVENUE6 South AvenueNew Canaan, CT 06840203,966.7772

ROWAYTON140 Rowayton AvenueRowayton, CT 06853203.655.1418

GREENWICH125 Mason StreetGreenwich, CT 06830203.869.8100

STAMFORD1099 High Ridge RoadStamford, CT 06905203.329.8801

WESTPORT379 Post Road EastWestport, CT 06880203.221.0666

WILTON21 River RoadWilton, CT 06897203.762.8118

QUEENSLONG ISLAND CITY47-12 Vernon BoulevardQueens, NY 1110718.878.1800

FOREST HILLS108-23 Ascan AvenueForest Hills, NY 11375718-520-0303

NEW JERSEYHOBOKEN200 Washington StreetHoboken, NJ 07030201.478.6700

MONTCLAIR635 Valley Road, Montclair, NJ 07030973.744.6033

HAMPTONSEAST HAMPTON2 Newtown LaneEast Hampton, NY 11937 631.324.6100

SOUTHAMPTON31 Main StreetSouthampton, NY 11968631.283.2883

CORPORATECOMMERCIAL SALES770 Lexington AvenueNew York, NY 10065212.381.3208

DEVELOPMENT MARKETING445 Park AvenueNew York, NY 10022212.521.5703

GLOBAL SERVICES770 Lexington AvenueNew York, NY 10065212. 381.6521

MANAGEMENT COMPANY770 Lexington Avenue, 7th floorNew York, NY, 10065212.508.7272

OFFICESPrepared by Gregory Heym,

Chief Economist, Halstead Brooklyn, LLC

©2019 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.

Documents

Fourth Quarter 2018 Market Report Brooklyn Residentialmedia.halstead.com/pdf/4Q18-MR-Bklyn-HALSTEAD.pdf · for condos. Both the average and median prices . rose for 1-3 family