Third Quarter 2017 - Brown Harris Stevensmedia.bhsusa.com/pdf/BHS3Q17_Brooklyn_Market_Report.pdf ·...
Transcript of 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 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.
Cover Property: BrownHarrisStevens.com WEB# 17602548-
BrownHarrisStevens.com WEB# 17583330
BrownHarrisStevens.com WEB# 17525573
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
BrownHarrisStevens.com WEB# 17567123
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
Average Sales Price Median Sales Price
Brown Harris Stevens 4
$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
BrownHarrisStevens.com WEB# 17525573
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
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 6
$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
BrownHarrisStevens.com WEB# 16693894
3rd Q16 3rd Q17 3rd Q16 3rd Q17
Brownstone Brooklyn1-4 FAMILY HOUSES
Average Sales Price Median Sales Price
Brown Harris Stevens 7
$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
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
BrownHarrisStevens.com WEB# 13975967
North BrooklynCOOPERATIVES & CONDOMINIUMS
COOPERATIVES & CONDOMINIUMS
Average & Median Sales Price
Average Sales Price Median Sales Price
Brown Harris Stevens 8
$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
BrownHarrisStevens.com WEB# 17400661
3rd Q16 3rd Q17
North Brooklyn1-4 FAMILY HOUSES
Average Sales Price Median Sales Price
Brown Harris Stevens 9
$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
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
Central BrooklynCOOPERATIVES & CONDOMINIUMS
COOPERATIVES & CONDOMINIUMS
Average & Median Sales Price
Average Sales Price Median Sales Price
Brown Harris Stevens 10
$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
Average Sales Price Median Sales Price
Brown Harris Stevens 11
$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
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
BrownHarrisStevens.com WEB# 15624703
South 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 12
$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
Average Sales Price Median Sales Price
Brown Harris Stevens 13
$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
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
BrownHarrisStevens.com WEB# 16474547
212.906.9200
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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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