2Q17 MR-Bklyn BHS

Second Quarter
2017
Brooklyn Residential
Market Report
Data Highlights
Cover Property: BrownHarrisStevens.com WEB# 16282564
While down from last quarters record
$947,732 , the average
apartment price in Brooklyn was still 22%
higher than a year ago.
BrownHarrisStevens.com WEB# 13975967
Townhouse prices averaged a record

The median apartment price reached
$1,109,602 , a 13%
a record $723,979 in
improvement from the second quarter
Brooklyn during the second quarter.
of 2016.

All Brooklyn
COOPERATIVES & CONDOMINIUMS*
COOPERATIVES & CONDOMINIUMS

Apartment prices averaged Average & Median Sales Price
$896,204 in the second $1,000,000

$734,913 $575,000 $828,811 $607,000 $835,873 $650,000 $947,732 $681,226 $896,204 $723,979
$900,000
quarter, down slightly from the prior
$800,000
quarters record. $700,000
$600,000
$500,000
$400,000
The median apartment price climbed 2nd Q16 3rd Q16 4th Q16 1st Q17 2nd Q17
26% over the past year to a

Average Sales Price Median Sales Price
Cooperative Condominium
record $723,979. Average Price Per Room Average Price Per Square Foot
$128,163 $136,307 $817 $959
$140,000 $1,000
$130,000 $950
$120,000 $900
$110,000 $850
$100,000 $800
$90,000 $750
BrownHarrisStevens.com WEB# 16693894 $80,000 $700
2nd Q16 2nd Q17 2nd Q16 2nd Q17

* Includes new development and resale apartments.
2Q17 data is preliminary and subject to revision in future reports. Data from the prior four quarters
Brown Harris Stevens 3
has been revised to include sales recorded after our initial reports were released.
All Brooklyn
1-4 Family Houses
Average & Median sales Price
$979,653 $800,000 $1,041,310 $838,370 $1,025,369 $839,500 $1,082,854 $870,000 $1,109,602 $870,000
$1,100,000
$1,000,000
Townhouse prices averaged a record $900,000
$1,109,602 in the
$800,000
$700,000
second quarter. $600,000
$500,000
2nd Q16 3rd Q16 4th Q16 1st Q17 2nd Q17
Average Price Per Square Foot
$444 $456 $457 $460 $481
$500
$475
$450
$425
$400
$375
$350

Brooklyn Market Areas
N
Brownstone North
Boerum Hill East Williamsburg
Brooklyn Heights Greenpoint
Carroll Gardens Williamsburg North Side
Clinton Hill Williamsburg South Side
Cobble Hill page 8
Columbia Street Waterfront District South
B
Ditmas Park Bath Beach
Downtown Brooklyn Bay Ridge
Dumbo Bensonhurst
Fort Greene Bergen Beach
Gowanus Borough Park
Greenwood Heights Brighton Beach
C
Park Slope Canarsie page 6
Prospect Heights Coney Island
Prospect Park South Dyker Heights
Prospect-Lefferts Gardens East Flatbush
Red Hook Flatbush
South Slope Flatlands page 10
Vinegar Hill Gerritsen Beach
Windsor Terrace Gravesend
Kensington
Central Manhattan Beach
Bedford-Stuyvesant Marine Park
S
Brownsville Midwood
Bushwick Mill Basin
Crown Heights Sea Gate
East New York Sheepshead Bay
Stuyvesant Heights Sunset Park
page 12
Brownstone Brooklyn

Average & Median Sales Price
$973,750 $840,000 $1,189,131 $870,000 $1,258,279 $910,000 $1,377,931 $1,077,500 $1,297,957 $975,000
$1,300,000
Brownstone Brooklyn apartments
gains
$1,200,000
posted sharp in both $1,100,000
$1,000,000
their average and median prices over
$900,000
the past year. $800,000
$700,000
Average Price Per Room Average Price Per Square Foot
$196,605 $221,825 $991 $1,211
$225,000 $1,200
BrownHarrisStevens.com WEB# 16260561 $200,000 $1,100
$175,000 $1,000
$150,000 $900
$125,000 $800
$100,000 $700
$75,000 $600
2nd Q16 2nd Q17 2nd Q16 2nd Q17

Brownstone Brooklyn
1-4 Family Houses
Average & Median SALES Price
$2,143,027 $2,000,000 $2,263,134 $2,000,000 $2,370,860 $2,200,000 $2,355,145 $2,155,000 $2,502,204 $2,190,000
$2,750,000
The average townhouse price $2,500,000
of $2,502,204 was 17% $2,250,000
$2,000,000
higher than a year ago. $1,750,000
$1,500,000
$1,250,000
$807 $839 $874 $821 $926
$950
$900
$850
$800
$750
$700
$650

BrownHarrisStevens.com WEB#
North Brooklyn

$961,904 $781,500 $1,060,316 $842,500 $1,120,873 $999,000 $1,101,894 $908,500 $1,033,794 $882,000
$1,200,000
$1,100,000
The average condo price per
13%
$1,000,000
square foot rose $900,000
$800,000
from 2016s second quarter to
$700,000
$1,045.
$600,000
Condominium
$923 $1,045
$1,100
$1,050
$1,000
$950
$900
$850
$800
2nd Q16 2nd Q17

North Brooklyn
1-4 Family Houses
Average & Median SALES Price
$2,051,069 $1,700,000 $2,274,600 $1,894,000 $1,858,553 $1,820,605 $2,001,000 $1,890,000 $1,851,206 $1,725,000
$2,500,000
$2,250,000
Townhouse prices averaged $2,000,000
$869 per square foot, a 5% $1,750,000
$1,500,000
decline compared to a year ago. $1,250,000
$1,000,000
$915 $911 $876 $794 $869
$1,000
$900
$800
$700
$600
$500
$400

Central Brooklyn

$687,952 $652,000 $607,424 $554,250 $627,588 $600,000 $643,964 $625,000 $743,371 $697,000
$800,000
At $755, the average condo price $700,000
per square foot was 13% $600,000
$500,000
higher than a year ago. $400,000
$300,000
$200,000
Condominium
$667 $755
$800
$750
$700
$650
$600
$550
$500
2nd Q16 2nd Q17

BrownHarrisStevens.com WEB#
Central Brooklyn
1-4 Family Houses
Average & Median sales Price
$804,271 $680,000 $841,161 $696,500 $859,942 $745,000 $893,729 $775,000 $919,432 $764,650
$950,000
$900,000
Townhouse prices averaged $850,000
14% more than during

$800,000
$750,000
the second quarter of 2016. $700,000
$650,000
$325 $343 $349 $364 $361
$375
$350
$325
$300
$275
$250
$225

South Brooklyn

$403,554 $355,000 $408,328 $360,000 $443,391 $377,875 $430,693 $360,000 $460,494 $358,000
$500,000
$450,000
South Brooklyn apartments posted $400,000
a 14% increase in their

$350,000
$300,000
average price over the past year. $250,000
$200,000
Average Price Per Room Average Price Per Square Foot
$76,106 $83,623 $507 $582
$85,000 $600
$80,000 $575
$75,000 $550
$70,000 $525
$65,000 $500
$60,000 $475
$55,000 $450
2nd Q16 2nd Q17 2nd Q16 2nd Q17

South Brooklyn
1-4 Family Houses
$851,964 $752,750 $874,782 $794,000 $881,909 $785,000 $913,509 $800,000 $916,893 $800,000
$950,000
$900,000
At $916,893, the average $850,000
townhouse price was 8% $800,000
$750,000
higher than last year. $700,000
$650,000
$436 $425 $433 $430 $439
$450
$425
$400
$375
$350
$325
$300

Prepared by Gregory Heym,
Chief Economist, Brown Harris
Contact us 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
Madison Avenue is believed true, no guaranty is
790 Madison Avenue made of accuracy.
Caroline E. Y. Guthrie
President
East Side
445 Park Avenue
Hall F. Willkie, President
West Side
Bess Freedman, EVP
1926 Broadway
c e ntr a l par k w e st
Managing Director of Sales

Kevin Kovesci, EVP
and Business Development
5 th Av e nue
Managing Director of Sales c ent ral park
Ruth McCoy, EVP
Richard Ferrari, EVP
Peter R. Marra, EVP
Sarah Orlinsky-Maitland, EVP
Neil M. Laurine, EVP
Managing Director of Sales Brooklyn Heights Park Slope
129 Montague Street 100 Seventh Avenue
Christopher Thomas, EVP Camille Logan, EVP
Managing Director of Sales Managing Director of Sales
Brown Harris Stevens
Development
Marketing
445 Park Avenue
Downtown Stephen Kliegerman,
130 Fifth Avenue President
Stephen Klym, EVP
Tribeca
43 North Moore
Stephen Klym, EVP
NEW YORK CITY THE HAMPTONS PALM BEACH MIAMI 212.906.9200

2Q17 MR-Bklyn BHS

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Second Quarter

While down from last quarters record

$947,732 , the average

apartment price in Brooklyn was still 22%

higher than a year ago.

BrownHarrisStevens.com WEB# 13975967

Townhouse prices averaged a record

BrownHarrisStevens.com WEB# 15639512

COOPERATIVES & CONDOMINIUMS

$896,204 in the second $1,000,000

quarters record. $700,000

26% over the past year to a

$128,163 $136,307 $817 $959

BrownHarrisStevens.com WEB# 16693894 $80,000 $700

2nd Q16 2nd Q17 2nd Q16 2nd Q17

Average & Median sales Price

Townhouse prices averaged a record $900,000

second quarter. $600,000

Average Sales Price Median Sales Price

Average Price Per Square Foot

$444 $456 $457 $460 $481

Brown Harris Stevens 4

COOPERATIVES & CONDOMINIUMS

posted sharp in both $1,100,000

the past year. $800,000

Average Sales Price Median Sales Price

$196,605 $221,825 $991 $1,211

BrownHarrisStevens.com WEB# 16260561 $200,000 $1,100

2nd Q16 2nd Q17 2nd Q16 2nd Q17

Brown Harris Stevens 6

Average & Median SALES Price

The average townhouse price $2,500,000

of $2,502,204 was 17% $2,250,000

higher than a year ago. $1,750,000

Average Sales Price Median Sales Price

Average Price Per Square Foot

$807 $839 $874 $821 $926

Brown Harris Stevens 7

COOPERATIVES & CONDOMINIUMS

square foot rose $900,000

Average Sales Price Median Sales Price

2nd Q16 2nd Q17

Brown Harris Stevens 8

Average & Median SALES Price

Townhouse prices averaged $2,000,000

$869 per square foot, a 5% $1,750,000

decline compared to a year ago. $1,250,000

Average Sales Price Median Sales Price

Average Price Per Square Foot

$915 $911 $876 $794 $869

Brown Harris Stevens 9

COOPERATIVES & CONDOMINIUMS

At $755, the average condo price $700,000

per square foot was 13% $600,000

higher than a year ago. $400,000

Average Sales Price Median Sales Price

2nd Q16 2nd Q17

Brown Harris Stevens 10

Average & Median sales Price

Townhouse prices averaged $850,000

14% more than during

the second quarter of 2016. $700,000

Average Sales Price Median Sales Price