2016 BROOKLYN RESIDENTIAL MARKET REPORT · HOBOKEN 200 Washington Street Hoboken, NJ 07030...

BROOKLYN RESIDENTIAL

MARKET REPORTTHIRD QUARTER2016

Data HighlightsCover Property: halstead.com WEB# 15363401

halstead.com WEB# 15530098

halstead.com WEB# 15378129

The average price per square foot rose 18% for townhouses, to a record $469

Apartment prices reached new records, fueled by a surge of luxury

new development closings

Townhouse prices averaged

over $1 million for

the first time

Halstead Property 3

* Includes new development and resale apartments.3Q16 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 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

$800,000

$700,000

$600,000

$500,000

$400,000

$200,000

$300,000

$140,000

$130,000

$120,000

$110,000

$100,000

$80,000

$90,000

$900

$850

$800

$750

$700

$600

$650

$135,093 $139,026 $834 $880

3rd Q15 3rd Q16 3rd Q15 3rd Q16

$669,172 $570,000

1st Q16

$685,273 $553,500

4th Q15

$724,978 $570,000

3rd Q15

$815,176 $599,000

3rd Q16

$734,950 $577,300

2nd Q16

12% The increase in the average apartment

price, to a record $815,176

All Brooklyn1-4 FAMILY HOUSES

Halstead Property 4

AVERAGE PRICE PER SQUARE FOOT

AVERAGE & MEDIAN SALES PRICE


$1,000,000

$900,000

$800,000

$700,000

$600,000

$400,000

$500,000

$500

$475

$450

$425

$400

$350

$375

$398

3rd Q15

$405

4th Q15

$979,571 $800,000

2nd Q16

$938,898 $750,000

4th Q15

$975,289 $815,000

1st Q16

$949,128 $746,000

3rd Q15

$1,069,298 $840,000

3rd Q16

$438

1st Q16

$444

2nd Q16

$469

3rd Q16

Townhouse prices climb 13%

from 3Q15

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

Bushwick

Crown Heights

Stuyvesant Heights

Brownsville

East New York

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

Seagate

Sheepshead Bay

Sunset Park

B

S

C

Npage 8

page 10

page 6

page 12

Brooklyn Market Areas

Brownstone BrooklynCOOPERATIVES & CONDOMINIUMS

Halstead Property 6

CONDOMINIUM


COOPERATIVE




$1,250,000

$1,150,000

$1,050,000

$950,000

$850,000

$650,000

$750,000

$225,000

$200,000

$175,000

$150,000

$125,000

$75,000

$100,000

$1,500

$1,000

$950

$900

$850

$750

$800

$211,353 $212,155 $1,089 $1,107

$930,537 $798,500

1st Q16

$972,706 $829,000

4th Q15

$1,024,354 $849,000

3rd Q15

$1,167,607 $850,000

3rd Q16

$980,603 $840,000

2nd Q16

3rd Q15 3rd Q16 3rd Q15 3rd Q16

The average apartment price rose

14%, but the median price was

virtually unchanged from a year ago

Halstead Property 7

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

$811

3rd Q15

$835

4th Q15

$2,284,085 $2,100,000

1st Q16

$2,320,242 $2,100,000

3rd Q15

$2,266,683 $1,900,000

4th Q15

$2,379,740 $2,036,500

3rd Q16

$2,123,538 $2,000,000

2nd Q16

$880

1st Q16

$801

2nd Q16

$861

3rd Q16

$2,750,000



3% increase in the average

townhouse price from 3Q15

Halstead Property 8

North BrooklynCOOPERATIVES & CONDOMINIUMS

COOPERATIVES & CONDOMINIUMSAverage & Median Sales Price


$1,100,000

$1,000,000

$900,000

$800,000

$700,000

$500,000

$600,000

CONDOMINIUMAverage Price Per Square Foot

$1,025

$1,000

$975

$950

$925

$875

$900

$926 $1,010

$936,376 $806,000

1st Q16

$1,000,884 $900,000

4th Q15

$975,015 $805,000

3rd Q15

$1,015,207 $840,000

3rd Q16

$941,343 $780,000

2nd Q16

3rd Q15 3rd Q16

4% Increase in both the average

and median apartment prices

compared to 2015’s third quarter

Halstead Property 9

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

$752

3rd Q15

$728

4th Q15

$1,904,486 $1,681,250

1st Q16

$1,880,372 $1,725,000

3rd Q15

$1,864,571 $1,825,000

4th Q15

$2,283,136 $1,700,000

3rd Q16

$2,066,590 $1,737,500

2nd Q16

$772

1st Q16

$928

2nd Q16

$952

3rd Q16

$2,500,000



Townhouse prices averaged

$952 per square foot

Halstead Property 10

Central BrooklynCOOPERATIVES & CONDOMINIUMS

COOPERATIVES & CONDOMINIUMSAverage & Median Sales Price


$700,000

$600,000

$500,000

$400,000

$300,000

$100,000

$200,000

CONDOMINIUMAverage Price Per Square Foot

$750

$700

$650

$600

$550

$450

$500

$679 $655

$587,296 $575,000

1st Q16

$611,202 $565,000

4th Q15

$590,697 $560,000

3rd Q15

$605,970 $590,000

3rd Q16

$692,082 $656,000

2nd Q16

3rd Q15 3rd Q16

Both the average and median

apartment prices rose

modestly over the past year

Central Brooklyn1-4 FAMILY HOUSES



$850,000

$800,000

$750,000

$700,000

$650,000

$600,000

$375

$350

$325

$300

$275

$225

$250

$294

3rd Q15

$297

4th Q15

$832,763 $710,000

1st Q16

$754,212 $657,500

3rd Q15

$742,991 $627,500

4th Q15

$880,471 $725,000

3rd Q16

$807,218 $685,000

2nd Q16

$341

1st Q16

$326

2nd Q16

$360

3rd Q16

$900,000



On average, townhouses sold for

17% more than a year ago

South BrooklynCOOPERATIVES & CONDOMINIUMS


CONDOMINIUM


COOPERATIVE




$400,000

$350,000

$300,000

$250,000

$200,000

$100,000

$150,000

$85,000

$80,000

$75,000

$70,000

$65,000

$55,000

$60,000

$525

$500

$475

$450

$400

$350

$375

$73,209 $78,181 $485 $525

$398,301 $349,000

1st Q16

$368,965 $315,000

4th Q15

$363,490 $320,000

3rd Q15

$401,618 $358,000

3rd Q16

$405,213 $356,500

2nd Q16

3rd Q15 3rd Q16 3rd Q15 3rd Q16

The median apartment price rose

12% from the third quarter of 2015

South Brooklyn1-4 FAMILY HOUSES



$850,000

$800,000

$750,000

$700,000

$660,000

$600,000

$450

$425

$400

$375

$350

$300

$325

$374

3rd Q15

$392

4th Q15

$838,755 $777,000

1st Q16

$798,497 $700,000

3rd Q15

$830,508 $732,500

4th Q15

$870,780 $785,000

3rd Q16

$853,210 $759,500

2nd Q16

$416

1st Q16

$436

2nd Q16

$431

3rd Q16

$900,000



15% increase in the average townhouse price per square foot from 2015’s third quarter

Prepared by Gregory Heym,

Chief Economist,

Halstead Property, LLC.

©2016 by Halstead Property, LLC. All Rights Reserved. This information may not be copied, commercially

used or distributed without Halstead Property’s prior consent.

While information is believed true, no guaranty is made of accuracy.

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

OFFICES

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 10003212.253.9300

SOHO451 West BroadwayNew York, NY 10012212.253.9300

HARLEM2169 Frederick Douglass BoulevardNew York, NY 10026212.381.2570

WASHINGTON HEIGHTS819 West 187th StreetNew York, NY 10033212.928.3805

RIVERDALERIVERDALE JOHNSON3531 Johnson AvenueRiverdale, NY 10463718.878.1700

RIVERDALE MOSHOLU5626 Mosholu AvenueRiverdale, NY 10471718.549.4116

BROOKLYNBROOKLYN HEIGHTS150 Montague StreetBrooklyn, NY 11201718.613.2000

BOERUM HILL495 Atlantic AvenueBrooklyn, NY 11217718.613.2090

PARK SLOPE76 Seventh AvenueBrooklyn, NY 11217718.399.2222

PARK SLOPE244 Fifth AvenueBrooklyn, NY 11215718.622.9300

COBBLE HILL162 Court StreetBrooklyn, NY 11201718.613.2020

BEDFORD STUYVESANT316 Stuyvesant AvenueBrooklyn, NY 11233718.613.2800

SOUTH SLOPE OFFICE1214 8th AvenueBrooklyn, NY 11215718.878.1888

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

NEW JERSEYHOBOKEN200 Washington StreetHoboken, NJ 07030201.478.6700

MONTCLAIR635 Valley Road, Montclair, NJ 07030973.744.6033

QUEENSLONG ISLAND CITY47-12 Vernon BoulevardQueens, NY 1110718.878.1800

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 10022212.253.9300

GLOBAL SERVICES770 Lexington AvenueNew York, NY 10065800.765.2692 x6521

2016 BROOKLYN RESIDENTIAL MARKET REPORT · HOBOKEN 200 Washington Street Hoboken, NJ 07030...

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