2017 BROOKLYN RESIDENTIAL MARKET...

BROOKLYN RESIDENTIAL

MARKET REPORTFOURTH QUARTER2017

Data HighlightsCover Property: halstead.com WEB# 17437925

halstead.com WEB# 17720098

halstead.com WEB# 17719899

Although down from last quarter’s record

level, the average townhouse price was

6% higher than a year ago.

The average apartment price fell 5% in

Brooklyn from a year ago, as buyers

favored smaller apartments.

At $671,068, the median

apartment price was 3% higher than

the fourth quarter of 2016.

Halstead 3

* Includes new development and resale apartments.4Q17 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

$1,000,000

$900,000

$800,000

$700,000

$600,000

$400,000

$500,000

$1,000

$950

$900

$850

$800

$700

$750

$700

$125,153 $144,289 $895 $946

4th Q16 4th Q17 4th Q16 4th Q17

Apartments sold in the fourth quarter

were smaller on average than in 4Q16

which pushed the average price 5% lower.

Both the co-op average price per room

and condo price per square foot were

higher than a year ago.

$914,230 $736,500

2nd Q17

$946,137 $681,226

1st Q17

$833,771 $649,500

4th Q16

$790,406 $671,068

4th Q17

$840,068 $720,000

3rd Q17

$150,000

$140,000

$130,000

$120,000

$110,000

$90,000

$100,000

All Brooklyn1-4 FAMILY HOUSES

Halstead 4

AVERAGE & MEDIAN SALES PRICE


AVERAGE PRICE PER SQUARE FOOT

$460

1st Q17

$474

2nd Q17

Townhouse prices averaged

$1,086,892, a 6% improvement from

2016’s fourth quarter.

The median townhouse price posted

a 2% gain over the past year.

$1,156,897 $900,000

3rd Q17

$1,082,494 $870,000

1st Q17

$1,084,123 $850,000

2nd Q17

$1,025,832 $840,000

4th Q16

$1,086,892 $860,000

4th Q17

$494

3rd Q17

$481

4th Q17

$457

4th Q16

$1,200,000

$1,100,000

$1,000,000

$900,000

$800,000

$600,000

$700,000

$525

$500

$475

$450

$425

$375

$400

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

Halstead Property 6

COOPERATIVES & CONDOMINIUMSAverage & Median Sales Price


CONDOMINIUMCOOPERATIVE


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

$225,000

$200,000

$175,000

$150,000

$125,000

$75,000

$100,000

$1,200

$1,100

$1,000

$900

$800

$600

$700

$1,299,334 $975,000

2nd Q17

$1,372,823 $1,070,000

1st Q17

$1,250,317 $910,000

4th Q16

$1,039,928 $900,000

4th Q17

$1,141,848 $930,000

3rd Q17

$1,173 $1,156

4th Q16 4th Q17

$201,741 $216,939

4th Q16 4th Q17

The average apartment price

fell from a year ago, as high-end new

development closings fell sharply.

Prices for resale apartments averaged

6% more than the fourth quarter

of 2016.

Halstead 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

$2,750,000



$821

1st Q17

$914

2nd Q17

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

2nd Q17

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

4th Q16

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

1st Q17

$2,532,652 $2,200,000

4th Q17

$2,564,327 $2,307,813

3rd Q17

$912

3rd Q17

$918

4th Q17

$874

4th Q16

The average townhouse price

rose 7% from a year ago,

to $2,532,652.

Halstead 8

North BrooklynCOOPERATIVES & CONDOMINIUMS




CONDOMINIUM

Average Price Per Square Foot

$1,200,000

$1,100,000

$1,000,000

$900,000

$800,000

$600,000

$700,000

At $1,140,215, the average

apartment price was up slightly

from 2016’s fourth quarter.

Condo prices rose 15% over

the past year, to an average of

$1,201 per square foot.

$1,043,621 $903,167

2nd Q17

$1,106,511 $912,500

1st Q17

$1,120,873 $999,000

4th Q16

$1,140,215 $995,102

4th Q17

$1,099,174 $943,202

3rd Q17

$1,041

4th Q16

$1,201

4th Q17

$1,250

$1,200

$1,150

$1,100

$1,050

$950

$1,000

Halstead 9

North Brooklyn1-4 FAMILY HOUSES




Big gains were posted

in both the average and median

townhouse prices compared to a

year ago.

$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

$809

1st Q17

$847

2nd Q17

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

2nd Q17

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

4th Q16

$2,053,515 $1,890,000

1st Q17

$2,269,371 $2,160,000

4th Q17

$1,981,147 $1,800,000

3rd Q17

$824

3rd Q17

$963

4th Q17

$876

4th Q16

$2,500,000

$800,000

$700,000

$600,000

$500,000

$400,000

$200,000

$300,000

$800

$750

$700

$650

$600

$500

$550

Halstead 10

Central BrooklynCOOPERATIVES & CONDOMINIUMS




CONDOMINIUM

Average Price Per Square Foot

$693 $754

The median apartment price was

16% higher than a year ago.

A smaller gain was seen in the average

price, which at $670,941

was 7% higher than the fourth quarter

of 2016.

$752,514 $702,500

2nd Q17

$643,964 $625,000

1st Q17

$627,588 $600,000

4th Q16

$670,941 $695,000

4th Q17

$754,932 $737,500

3rd Q17

4th Q16 4th Q17

Central Brooklyn1-4 FAMILY HOUSES

Halstead 11




Townhouse prices averaged

$893,918; 4% more than

a year ago.

$900,000

$850,000

$800,000

$750,000

$700,000

$650,000

$400

$375

$350

$325

$300

$250

$275

$363

1st Q17

$355

2nd Q17

$887,387 $750,000

2nd Q17

$861,218 $746,750

4th Q16

$892,215 $775,000

1st Q17

$893,918 $800,000

4th Q17

$919,930 $750,000

3rd Q17

$365

3rd Q17

$362

4th Q17

$349

4th Q16

$950,000

$500,000

$450,000

$400,000

$350,000

$300,000

$200,000

$250,000

$600

$575

$550

$525

$500

$450

$475

South BrooklynCOOPERATIVES & CONDOMINIUMS

Halstead 12


CONDOMINIUM


COOPERATIVE


Average Price Per Square FootAverage Price Per Room

$466,366 $375,000

2nd Q17

$429,734 $360,000

1st Q17

$442,939 $377,500

4th Q16

$462,263 $405,499

4th Q17

$451,038 $397,775

3rd Q17

$78,092 $88,410

4th Q16 4th Q17

$577 $591

4th Q16 4th Q17

Co-op prices averaged $88,410 per

room, a 13% increase from

2016’s fourth quarter.

The average condo price per square

foot ticked up 2% over the past

year, to $591.

$90,000

$85,000

$80,000

$75,000

$70,000

$60,000

$65,000

South Brooklyn1-4 FAMILY HOUSES

Halstead 13




The average townhouse price

was 6% higher than a year ago,

at $938,925.

$950,000

$900,000

$850,000

$800,000

$750,000

$700,000

$914,938 $800,000

2nd Q17

$881,909 $785,000

4th Q16

$912,567 $800,000

1st Q17

$938,925 $825,000

4th Q17

$948,942 $846,500

3rd Q17

$1,000,000

$475

$450

$425

$400

$375

$325

$350

$430

1st Q17

$441

2nd Q17

$455

3rd Q17

$459

4th Q17

$433

4th Q16

Prepared by Gregory Heym,

Chief Economist,

Halstead Property, LLC.

©2018 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.

OFFICESMANHATTANPARK 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 STUYVESANT316 Stuyvesant AvenueBrooklyn, 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 11375Main #: 718-520-0303

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

2017 BROOKLYN RESIDENTIAL MARKET...

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