Third Quarter 2017 - Brown Harris Stevensmedia.bhsusa.com/pdf/BHS3Q17_Brooklyn_Market_Report.pdf · BROOKLYN RESIDENTIAL MARKET REPORT Third Quarter 2017. At $1,205,566 the average

BROOKLYN RESIDENTIAL

MARKET REPORT

Third Quarter

2017

At $1,205,566 the

average townhouse price was 16%

higher than the third quarter of 2016.

Data Highlights

The average apartment price fell for the second

straight quarter in Brooklyn, but remained

higher than a year ago.

Records were set for

both the average and median

townhouse prices.

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All BrooklynCOOPERATIVES & CONDOMINIUMS*

CONDOMINIUM

COOPERATIVES & CONDOMINIUMS

COOPERATIVE

Average & Median Sales Price

Average Price Per Room Average Price Per Square Foot

Average Sales Price Median Sales Price

Brown Harris Stevens 3

$1,000,000

$900,000

$800,000

$700,000

$600,000

$400,000

$500,000

$150,000

$140,000

$130,000

$120,000

$110,000

$90,000

$100,000

$1,000

$950

$900

$850

$800

$700

$750

$135,951 $145,630 $876 $994

3rd Q16 3rd Q17 3rd Q16 3rd Q17


Apartment prices averaged $845,879 in

Brooklyn, a 2% increase from 2016’s

third quarter.

The average condo price per square

foot rose 13% over the past year to

$994.

$913,983 $736,500

2nd Q17

$947,496 $683,726

1st Q17

$834,533 $650,000

4th Q16

$828,959 $609,500

3rd Q16

$845,879 $721,775

3rd Q17

* Includes new development and resale apartments.3Q17 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 Brooklyn1-4 FAMILY HOUSES

AVERAGE PRICE PER SQUARE FOOT

AVERAGE & MEDIAN SALES PRICE



$1,200,000

$1,100,000

$1,000,000

$900,000

$800,000

$600,000

$700,000

$525

$500

$475

$450

$425

$375

$400

$457

4th Q16

$459

1st Q17

Prices for Brooklyn townhouses

averaged a record $1,205,566 in the

third quarter.

The median price of

$935,000 also set a

record, and was 12% higher than a

year ago.

$1,205,566 $935,000

3rd Q17

$1,082,158 $870,000

1st Q17

$1,084,714 $850,000

2nd Q17

$1,025,369 $840,000

4th Q16

$1,041,310 $838,370

3rd Q16

$474

2nd Q17

$510

3rd Q17

$456

3rd Q16


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

Brownstone BrooklynCOOPERATIVES & CONDOMINIUMS

CONDOMINIUM


COOPERATIVE





$1,300,000

$1,200,000

$1,100,000

$1,000,000

$900,000

$700,000

$800,000

$225,000

$200,000

$175,000

$150,000

$125,000

$75,000

$100,000

$1,200

$1,100

$1,000

$900

$800

$600

$700

$209,858 $219,286 $1,102 $1,213

The average apartment price fell

2% over the past year, while the

median price rose 9%.

Condo prices averaged

$1,213 per square foot, a

10% improvement compared to a year

ago.

$1,298,796 $975,000

2nd Q17

$1,373,532 $1,072,500

1st Q17

$1,256,168 $910,000

4th Q16

$1,187,565 $870,000

3rd Q16

$1,164,362 $945,000

3rd Q17


3rd Q16 3rd Q17 3rd Q16 3rd Q17

Brownstone Brooklyn1-4 FAMILY HOUSES



$2,500,000

$2,250,000

$2,000,000

$1,750,000

$1,500,000

$1,250,000

$950

$900

$850

$800

$750

$650

$700

$874

4th Q16

$821

1st Q17

Both the average and median

townhouse prices were

15% higher than the third

quarter of 2016.

$2,428,314 $2,126,750

2nd Q17

$2,370,860 $2,200,000

4th Q16

$2,355,145 $2,155,000

1st Q17

$2,263,134 $2,000,000

3rd Q16

$2,605,099 $2,300,000

3rd Q17

$914

2nd Q17

$923

3rd Q17

$839

3rd Q16

$2,750,000




North BrooklynCOOPERATIVES & CONDOMINIUMS





$1,200,000

$1,100,000

$1,000,000

$900,000

$800,000

$600,000

$700,000

CONDOMINIUM

Average Price Per Square Foot

$1,200

$1,150

$1,100

$1,050

$1,000

$900

$950

$998 $1,182

Condo prices rose sharply in

North Brooklyn, with their

average price per square foot

18% higher than a year

ago.

$1,049,180 $913,191

2nd Q17

$1,106,511 $912,500

1st Q17

$1,120,873 $999,000

4th Q16

$1,060,316 $842,500

3rd Q16

$1,090,865 $935,000

3rd Q17


3rd Q16 3rd Q17

North Brooklyn1-4 FAMILY HOUSES



$2,250,000

$2,000,000

$1,750,000

$1,500,000

$1,250,000

$1,000,000

$1,000

$900

$800

$700

$600

$400

$500

$876

4th Q16

$792

1st Q17

The median townhouse price

rose slightly over the past

year, while the average price fell

in North Brooklyn.

$1,849,458 $1,750,000

2nd Q17

$1,858,553 $1,820,605

4th Q16

$2,009,059 $1,890,000

1st Q17

$2,274,600 $1,894,000

3rd Q16

$2,059,683 $1,940,000

3rd Q17

$847

2nd Q17

$859

3rd Q17

$911

3rd Q16

$2,500,000



Central BrooklynCOOPERATIVES & CONDOMINIUMS





$800,000

$700,000

$600,000

$500,000

$400,000

$200,000

$300,000

CONDOMINIUM

Average Price Per Square Foot

$800

$750

$700

$650

$600

$500

$550

$657 $774

Apartments in Central Brooklyn

posted strong price

increases compared to a year ago.

Condo prices rose 18% over

the past year to an average of

$774 per square foot.

$752,514 $702,500

2nd Q17

$643,964 $625,000

1st Q17

$627,588 $600,000

4th Q16

$608,001 $556,000

3rd Q16

$754,114 $740,000

3rd Q17

3rd Q16 3rd Q17

Central Brooklyn1-4 FAMILY HOUSES



$900,000

$850,000

$800,000

$750,000

$700,000

$650,000

$400

$375

$350

$325

$300

$250

$275

$349

4th Q16

$363

1st Q17

The average townhouse price

rose 15% from a year

ago to $964,985.

$887,387 $750,000

2nd Q17

$861,218 $746,750

4th Q16

$892,215 $775,000

1st Q17

$841,161 $696,500

3rd Q16

$964,985 $782,500

3rd Q17

$355

2nd Q17

$379

3rd Q17

$343

3rd Q16

$950,000




South BrooklynCOOPERATIVES & CONDOMINIUMS

CONDOMINIUM


COOPERATIVE





$500,000

$450,000

$400,000

$350,000

$300,000

$200,000

$250,000

$90,000

$85,000

$80,000

$75,000

$70,000

$60,000

$65,000

$600

$575

$550

$525

$500

$450

$475

$79,128 $88,433 $525 $594

South Brooklyn apartment prices

averaged $449,238, 10%

more than 2016’s third quarter.

$466,743 $376,165

2nd Q17

$430,622 $360,000

1st Q17

$443,018 $377,250

4th Q16

$408,328 $360,000

3rd Q16

$449,238 $395,000

3rd Q17

3rd Q16 3rd Q17 3rd Q16 3rd Q17

South Brooklyn1-4 FAMILY HOUSES



$950,000

$900,000

$850,000

$800,000

$750,000

$700,000

$475

$450

$425

$400

$375

$325

$350

$433

4th Q16

$430

1st Q17

At $964,485, the average

townhouse price was 10%

higher than a year ago.

$915,625 $800,000

2nd Q17

$881,909 $785,000

4th Q16

$912,567 $800,000

1st Q17

$874,782 $794,000

3rd Q16

$964,485 $850,000

3rd Q17

$441

2nd Q17

$462

3rd Q17

$425

3rd Q16

$1,000,000




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Contact us

CENTRAL PARK

NEW YORK CITY • THE HAMPTONS • PALM BEACH • MIAMI

West Side1926 BroadwayKevin Kovesci, EVPManaging Director of Sales

Downtown130 Fifth AvenueStephen Klym, EVP Managing Director of SalesSarah Orlinsky-Maitland, EVPManaging Director of SalesTribeca

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Brooklyn Heights129 Montague StreetChristopher Thomas, EVPManaging Director of Sales

Park Slope100 Seventh AvenueCamille Logan, EVPManaging Director of Sales

Prepared by Gregory Heym, Chief Economist, Brown Harris Stevens.©2017 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.

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Documents

Third Quarter 2017 - Brown Harris Stevensmedia.bhsusa.com/pdf/BHS3Q17_Brooklyn_Market_Report.pdf · BROOKLYN RESIDENTIAL MARKET REPORT Third Quarter 2017. At $1,205,566 the average