Townhouse prices in Brooklyn averaged a record $1,205,566 in the third quarter, which was an all-time high and 16% increase from the third quarter of 2016, according to Halstead’s Third Quarter 2017 Brooklyn Market Report. The average apartment price in Brooklyn fell for the second straight quarter but, at $845,879, was still 2% higher than a year ago. Brooklyn’s average condo price per square foot rose 13% over the past year to $994.
Halstead’s Third Quarter 2017 Brooklyn Market Report also noted the following data:
- Brownstone Brooklyn’s average price of one- to four-family townhomes experienced a 15% increase from the third quarter of 2016, to an average $2,605,099. However, apartment prices fell 2% over the past year.
- North Brooklyn saw a sharp rise in the average condo price per square foot, which increased 18% over the prior year to $1,182. Townhouse prices averaged $859 per square foot, a slight decline compared to $911 a year ago.
- At $774, the average condo price per square foot in Central Brooklyn was 18% higher than a year ago. Townhouse prices in the area averaged $964,985, a 15% rise compared to the third quarter of 2016.
- South Brooklyn apartments posted a 10% increase in their average price over the past year. At $449,238, the average townhouse price was 10% higher than last year.
As one of the top residential real estate brokerage firms in the New York metropolitan area, Halstead has more than 1,300 sales and rental agents located in premier retail storefront offices in Manhattan, Brooklyn, Queens, the Bronx, the Hamptons, Hudson Valley, New Jersey and Fairfield County, Connecticut. In addition, the Development Marketing Division of Halstead is the exclusive sales and marketing firm for many new developments in the tristate area and through the Property Management Division, Halstead manages more than 25,000 residential units within 250 buildings. To learn more, please visit www.halstead.com.