2018 brooklyn residential market...
TRANSCRIPT
Data HighlightsCover Property: halstead.com WEB# 18328416
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Brooklyn townhouse prices averaged
$1,156,060 in the first quarter, a 7%
improvement from a year ago.
A slowdown in new development closings
brought the average apartment price down to
$835,800 in Brooklyn.
The average price for a resale
apartment rose slightly in Brooklyn from
the first quarter of 2017.
Halstead 3
* Includes new development and resale apartments.1Q18 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.
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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
$1,000,000
$900,000
$800,000
$700,000
$600,000
$400,000
$500,000
$1,000
$950
$900
$850
$800
$700
$750
$700
$129,859 $150,406 $976 $936
1st Q17 1st Q18 1st Q17 1st Q18
Fewer new development closings led
to a decline in the average
apartment price from a year ago.
Co-op prices were higher,
averaging $150,406 per room.
$909,882 $735,000
2nd Q17
$946,372 $683,726
1st Q17
$835,800 $680,000
1st Q18
$801,149 $670,000
4th Q17
$837,402 $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 Sales Price Median Sales Price
AVERAGE PRICE PER SQUARE FOOT
$474
2nd Q17
$493
3rd Q17
The average townhouse price rose
7% in Brooklyn over the past year to
$1,156,060.
A 7% increase was also
posted in the median townhouse price.
$1,155,149 $900,000
3rd Q17
$1,082,070 $870,000
1st Q17
$1,087,176 $850,000
2nd Q17
$1,156,060 $930,000
1st Q18
$1,081,723 $858,500
4th Q17
$480
4th Q17
$493
1st Q18
$460
1st Q17
$1,200,000
$1,100,000
$1,000,000
$900,000
$800,000
$600,000
$700,000
$525
$500
$475
$450
$425
$375
$400
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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
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Brooklyn Market Areas
Brownstone BrooklynCOOPERATIVES & CONDOMINIUMS
Halstead 6
COOPERATIVES & CONDOMINIUMSAverage & Median Sales Price
Average Sales Price Median Sales Price
CONDOMINIUMCOOPERATIVE
Average & Median Sales Price
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
$1,300
$1,200
$1,100
$1,000
$900
$700
$800
$1,290,007 $975,000
2nd Q17
$1,193,777 $957,500
1st Q18
$1,079,397 $907,500
4th Q17
$1,140,350 $927,500
3rd Q17
$1,206 $1,209
1st Q17 1st Q18
$205,452 $229,742
1st Q17 1st Q18
While resale prices rose slightly,
the average price for all apartments
fell due to a sharp decline in new
development closings.
Co-op prices averaged $229,742 per
room, a 12% improvement from
2017’s first quarter.
$1,372,548 $1,072,500
1st Q17
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Halstead 7
Brownstone Brooklyn1-4 FAMILY HOUSES
Average Sales Price Median Sales Price
$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
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
$821
1st Q17
$916
2nd Q17
$2,459,798 $2,138,550
2nd Q17
$2,445,019 $2,070,000
1st Q18
$2,355,145 $2,155,000
1st Q17
$2,564,327 $2,307,813
3rd Q17
$912
3rd Q17
$885
4th Q17
$898
1st Q18
The average townhouse price
rose 4% over the past year to
$2,445,019.
$2,441,368 $2,200,000
4th Q17
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Halstead 8
North BrooklynCOOPERATIVES & CONDOMINIUMS
Average Sales Price Median Sales Price
COOPERATIVES & CONDOMINIUMSAverage & Median Sales Price
CONDOMINIUMAverage Price Per Square Foot
$1,300,000
$1,200,000
$1,100,000
$1,000,000
$900,000
$700,000
$800,000
Apartment prices averaged
$1,134,048 in North Brooklyn,
2% more than a year ago.
The median price posted an 8%
gain compared to the first
quarter of 2017.
$1,041,569 $901,583
2nd Q17
$1,106,511 $912,500
1st Q17
$1,134,048 $986,178
1st Q18
$1,108,652 $977,500
4th Q17
$1,099,174 $943,202
3rd Q17
$1,068
1st Q17
$1,130
1st Q18
$1,250
$1,200
$1,150
$1,100
$1,050
$950
$1,000
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Halstead 9
North Brooklyn1-4 FAMILY HOUSES
Average Sales Price Median Sales Price
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
Both the average and
median townhouse prices fell 4%
from the first quarter of 2017.
$2,250,000
$2,000,000
$1,750,000
$1,500,000
$1,250,000
$1,000,000
$1,100
$1,000
$900
$800
$700
$500
$600
$809
1st Q17
$847
2nd Q17
$1,849,458 $1,750,000
2nd Q17
$1,971,324 $1,812,500
1st Q18
$2,053,515 $1,890,000
1st Q17
$1,981,147 $1,800,000
3rd Q17
$824
3rd Q17
$1,005
4th Q17
$697
1st Q18
$2,500,000
$2,201,917 $2,105,000
4th Q17
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$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
Average Sales Price Median Sales Price
COOPERATIVES & CONDOMINIUMSAverage & Median Sales Price
CONDOMINIUMAverage Price Per Square Foot
$684 $761
Apartment prices averaged 13%
more than a year ago, reaching
$724,481.
The average condo price rose from
$684, to $761 per square foot over the
past year.
$752,514 $702,500
2nd Q17
$643,964 $625,000
1st Q17
$724,481 $685,000
1st Q18
$674,398 $680,000
4th Q17
$755,759 $740,000
3rd Q17
1st Q17 1st Q18
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Central Brooklyn1-4 FAMILY HOUSES
Halstead 11
Average Sales Price Median Sales Price
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
The average townhouse price of
$923,170 was 3% higher 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
$887,347 $750,000
2nd Q17
$923,170 $850,000
1st Q18
$892,215 $775,000
1st Q17
$888,898 $785,000
4th Q17
$364
3rd Q17
$363
4th Q17
$380
1st Q18
$950,000
$916,983 $750,000
3rd Q17
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$500,000
$450,000
$400,000
$350,000
$300,000
$200,000
$250,000
$600
$650
$575
$550
$525
$500
$475
South BrooklynCOOPERATIVES & CONDOMINIUMS
Halstead 12
Average Sales Price Median Sales Price
CONDOMINIUM
COOPERATIVES & CONDOMINIUMS
COOPERATIVE
Average & Median Sales Price
Average Price Per Square FootAverage Price Per Room
$429,339 $359,500
1st Q17
$474,280 $424,850
1st Q18
$80,601 $91,528
1st Q17 1st Q18
$564 $612
1st Q17 1st Q18
At $474,280, the average apartment
price was 10% higher than a
year ago.
Co-ops saw the largest pricing gains,
with their average price per room
rising 14%.
$95,000
$90,000
$85,000
$80,000
$75,000
$65,000
$70,000
$460,141 $410,000
4th Q17
$449,817 $396,550
3rd Q17
$466,366 $375,000
2nd Q17
South Brooklyn1-4 FAMILY HOUSES
Halstead 13
Average Sales Price Median Sales Price
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
The average townhouse price
crossed the $1 million
mark for the first time ever in South
Brooklyn.
$950,000
$900,000
$850,000
$800,000
$750,000
$700,000
$914,181 $799,500
2nd Q17
$1,001,949 $875,000
1st Q18
$912,382 $800,000
1st Q17
$946,939 $830,000
4th Q17
$948,890 $846,500
3rd Q17
$1,000,000
$475
$450
$425
$400
$375
$325
$350
$431
1st Q17
$440
2nd Q17
$454
3rd Q17
$459
4th Q17
$466
1st Q18
Halstead.com WEB# 18312968
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.
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