fourth quarter 2020 residential market report brooklyn

Broo

klyn

Fourth Quarter 2020Residential Market Report

Halstead is now

BHSID 20266433

BHS 1

BHSID 20388343

Halstead has joined Brown Harris Stevens - which means BHS

now has 2,500 agents and 55 offices in luxury markets across NYC,

the Tristate area, the Hamptons, Palm Beach, and Miami.

Historically ranked among the nation’s top residential firms,

in 2019 both firms combined closed 6,000 transactions

totaling more than $9 billion.

Simply put, we have more resources than ever to

support our trusted clients.

We are here to serve you, and Brown Harris Stevens has never

been stronger. We look forward to working together.

We’re growing!

BHS 2

BHSID 20221010

Message from Bess Freedman CEO of Brown Harris Stevens

The Brooklyn residential market’s recovery gained more steam in the fourth quarter, with both apartment and townhouses prices up compared to a year ago.

Perhaps more impressive was the slight increase in the number of apartment sales from 2019’s fourth quarter. Compare that to the 29% decline in Manhattan apartment sales posted over the past year, and Brooklyn is looking very good. Townhouse closings were 15% lower than a year ago, but that’s not bad considering how hard the market was hit by the coronavirus.

The biggest takeaway from this report is that Brooklyn has already made an incredible comeback from the unprecedented damage of COVID-19, and is getting stronger every day.

BHS 3

Apartment prices averaged

$879,097 in the fourth quarter,

9% more than a year ago.

The number of sales ticked

up 1% compared to 2019’s

fourth quarter.

All

Broo

klyn

BHSID 20325361

Cooperatives & Condominiums

Q4 2020

BHS 4

BHSID 20371018

$145

,159 $1

88,6

35

$50,000

$100,000

$150,000

$200,000

$250,000

4th Q 19 4th Q 20

CooperativeAverage Price Per Room

Condominium Average Price Per Square Foot

Q4 2020

All Brooklyn Cooperatives & Condominiums*

$962

$980

$250

$500

$750

$1,000

$1,250

4th Q 19 4th Q 20

* Includes new development and resale apartments. 4Q20 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.

Cooperatives & CondominiumsAverage & Median Sales Price

$806

,362

$833

,344

$875

,692

$841

,406

$879

,097

$673

,000

$672

,500

$692

,705

$701

,574

$760

,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000

4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20

Average Price Median Price

BHS 5

All

Broo

klyn

The average 1-3 family house

price rose 7% over the past

year to $1,237,917.

House prices averaged

$577 per square foot, an 11%

improvement from the fourth

quarter of 2019. BHSID 20272051

1-3 Family HousesQ4 2020

BHS 6

$520

$539

$557

$531

$577

$400

$450

$500

$550

$600


$1,15

6,42

1

$1,2

02,13

7

$1,19

0,57

7

$1,13

6,92

5

$1,2

37,9

17

$925

,000

$975

,000

$970

,000

$936

,000

$975

,000

$500,000

$750,000

$1,000,000

$1,250,000

$1,500,000

$1,750,000



BHSID 20165962

Q4 2020

All Brooklyn 1-3 Family Houses

Average & Median Sales Price

Average Price Per Square Foot

BHS 7

Brooklyn Market Areas

Q4 2020

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

Bpage 6

Npages 12-15

Spage 12

Cpage 10

Bpages 8-11

Spages 20-23

Cpages 16-19

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

BHS 8

Brow

nsto

ne B

rook

lyn

A sharp rise in co-op prices

helped bring the average

apartment price 6% higher

than a year ago. BHSID 20354553


Q4 2020

BHS 9

$1,0

71,9

99

$1,13

9,30

3

$1,12

1,957

$1,17

6,94

5

$1,14

0,07

2

$909

,145

$919

,500

$852

,500

$935

,000

$998

,000

$500,000

$750,000

$1,000,000

$1,250,000

$1,500,000



BHSID 20516435

$221

,438

$268

,560

$125,000

$175,000

$225,000

$275,000

$325,000

4th Q 19 4th Q 20



Q4 2020

Brownstone Brooklyn Cooperatives & Condominiums

$1,18

9

$1,2

09

$500

$750

$1,000

$1,250

$1,500

4th Q 19 4th Q 20


BHS 10

Prices for 1-3 family houses

averaged $2,634,86,

9% more than

2019’s fourth quarter.


Brow

nsto

ne B

rook

lyn

BHSID 20211582

BHS 11

$889

$921

$887

$905

$948

$400

$600

$800

$1,000

$1,200


$2,4

19,4

02

$2,5

85,2

79

$2,4

98,2

12

$2,18

4,37

3 $2,6

34,8

68

$2,3

00,0

00

$2,2

25,0

00

$2,0

89,2

50

$2,0

00,0

00

$2,12

5,00

0 $1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000



BHSID 20526031

Q4 2020

Brownstone Brooklyn 1-3 Family Houses



BHS 12

The average apartment price

rose 5% over the past year

in North Brooklyn.BHSID 20333386


Q4 2020

Nor

th B

rook

lyn

BHS 13

$1,14

9

$1,12

6

$500

$750

$1,000

$1,250

$1,500

4th Q 19 4th Q 20

$1,15

5,19

4

$1,15

9,37

9

$1,12

6,81

1

$1,0

78,8

40

$1,2

16,3

75

$993

,988

$990

,000

$985

,000

$948

,500

$1,0

82,5

00

$500,000

$750,000

$1,000,000

$1,250,000

$1,500,000



BHSID 20537692


Q4 2020

North Brooklyn Cooperatives & Condominiums


BHS 14

While the average 1-3 family

house price fell sharply

compared to a year ago,

the relatively small number

of sales in this market can

cause data to vary widely

from quarter-to-quarter.BHSID 20191016


Nor

th B

rook

lyn

BHS 15

$2,6

61,15

5

$2,11

6,97

9

$1,7

50,9

84

$1,9

65,0

00

$2,0

21,7

31

$1,8

75,0

00

$1,8

67,5

00

$1,6

25,0

00

$1,7

60,0

00

$1,8

50,0

00

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000



BHSID 20191016

Q4 2020

North Brooklyn 1-3 Family Houses


$893

$844

$703

$701

$832

$500

$600

$700

$800

$900

$1,000



BHS 16

Both the average and

median apartment prices

posted double-digit

increases

from 2019’s fourth quarter.BHSID 20577991


Q4 2020

Cen

tral

Bro

okly

n

BHS 17

$802

$836

$500

$600

$700

$800

$900

4th Q 19 4th Q 20

$677

,945

$726

,236

$799

,734

$699

,146

$763

,274

$618

,800

$635

,000

$705

,300

$688

,000

$756

,907

$200,000

$400,000

$600,000

$800,000

$1,000,000




Q4 2020

Central Brooklyn Cooperatives & Condominiums


BHSID 20298007

BHS 18

Prices for 1-3 family houses

averaged $1,053,171,

a 6% improvement

from a year ago.BHSID 20499429


Cen

tral

Bro

okly

n

BHS 19

$995

,751

$1,0

03,5

37

$1,0

42,9

02

$955

,738

$1,0

53,17

1

$850

,000

$871

,500

$871

,170

$845

,000

$912

,500

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000



BHSID 20365117

Q4 2020

Central Brooklyn 1-3 Family Houses


$415

$429

$460

$423

$462

$250

$350

$450

$550



BHS 20

The average apartment

price was virtually

unchanged

from 2019’s fourth quarter. BHSID 20537716


Q4 2020

Sout

h Br

ookl

yn

BHS 21

$96,

513

$103

,053

$40,000

$60,000

$80,000

$100,000

$120,000

4th Q 19 4th Q 20

$470

,084

$454

,225

$499

,084

$457

,568

$470

,391

$405

,300

$407

,500

$440

,000

$399

,000

$430

,291

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000





Q4 2020

South Brooklyn Cooperatives & Condominiums

$623

$610

$300

$400

$500

$600

$700

4th Q 19 4th Q 20


BHSID 20363954

BHS 22

Both the average and median

1-3 family house price were

6% higher than a year ago. BHSID 20504605


Sout

h Br

ookl

yn

BHS 23

$974

,906

$1,0

35,6

55

$998

,031

$1,0

00,9

71

$1,0

31,8

51

$861

,500

$910

,000

$883

,750

$890

,000

$915

,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000



Halstead Exclusive 20485726

Q4 2020

South Brooklyn 1-3 Family Houses


$494

$514

$531

$503

$540

$400

$450

$500

$550

$600



©2021 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.

212.906.9200

Brooklyn Heights122 Montague StreetBrooklyn, NY 11201718.613.2000

Park Slope160 7th AvenueBrooklyn, NY 11215718.878.1960

Cobble Hill162 Court StreetBrooklyn, NY 11201718.613.2020

Bedford Stuyvesant1191 Bedford Avenue,Brooklyn, NY 11216718.878.1750

South Slope1214 8th AvenueBrooklyn, NY 11215718.878.1888

Fort Greene725 Fulton StreetBrooklyn, NY 1127718.613.2800

Bay Ridge8324 4th AvenueBrooklyn, NY 11209718.878.1880

Brooklyn Heights129 Montague StreetBrooklyn, NY 11201 718.875.1289

Park Slope100 Seventh AvenueBrooklyn, NY 11215 718.230.5500

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UsFourth Quarter 2020

Residential Market Report

fourth quarter 2020 residential market report brooklyn

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