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BROOKLYN RESIDENTIAL MARKET REPORT FIRST QUARTER 2018

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BROOKLYN RESIDENTIAL

MARKET REPORTFIRST QUARTER2018

Data HighlightsCover Property: halstead.com WEB# 18328416

halstead.com WEB# 18333604

halstead.com WEB# 18327577

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.

Halstead.com WEB# 11970866

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

Halstead.com WEB# 18231103

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

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

Halstead.com WEB# 11971075

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

Halstead.com WEB# 17718856

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

Halstead.com WEB# 17765539

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

Halstead.com WEB# 18203120

$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

Halstead.com WEB# 18047608

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

Halstead.com WEB# 18242430

$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.

OFFICESMANHATTANPARK AVENUE499 Park AvenueNew York, NY 10022212.734.0010

EAST SIDE770 Lexington AvenueNew York, NY 10065212.317.7800

WEST SIDE408 Columbus AvenueNew York, NY 10024212.769.3000

VILLAGE831 BroadwayNew York, NY 10003212.381.6500

SOHO451 West BroadwayNew York, NY 10012212.381.4200

HARLEM2169 Frederick Douglass BoulevardNew York, NY 10026212.381.2570

WASHINGTON HEIGHTS819 West 187th StreetNew York, NY 10033212.381.2452

BRONXRIVERDALE JOHNSON3531 Johnson AvenueRiverdale, NY 10463718.878.1700

RIVERDALE MOSHOLU5626 Mosholu AvenueRiverdale, NY 10471718.549.4116

BROOKLYNBROOKLYN HEIGHTS122 Montague StreetBrooklyn, NY 11201718.613.2000

NORTH SLOPE76 Seventh AvenueBrooklyn, NY 11217718.399.2222

PARK SLOPE160 7th AvenueBrooklyn, NY 11215718.878.1960

COBBLE HILL162 Court StreetBrooklyn, NY 11201718.613.2020

BEDFORD STUYVESANT316 Stuyvesant AvenueBrooklyn, NY 11233718.613.2800

SOUTH SLOPE1214 8th AvenueBrooklyn, NY 11215718.878.1888

FORT GREENE725 Fulton StreetBrooklyn, NY 1127718.613.2800

HUDSON VALLEYHUDSON526 Warren StreetHudson, NY 12534518.828.0181

CONNECTICUTDARIEN671 Boston Post RoadDarien, CT 06820203.655.1418

NEW CANAAN - ELM STREET183 Elm StreetNew Canaan, CT 06840203.966.7800

NEW CANAAN - SOUTH AVENUE6 South AvenueNew Canaan, CT 06840203,966.7772

ROWAYTON140 Rowayton AvenueRowayton, CT 06853203.655.1418

GREENWICH125 Mason StreetGreenwich, CT 06830203.869.8100

STAMFORD1099 High Ridge RoadStamford, CT 06905203.329.8801

WESTPORT379 Post Road EastWestport, CT 06880203.221.0666

WILTON21 River RoadWilton, CT 06897203.762.8118

QUEENSLONG ISLAND CITY47-12 Vernon BoulevardQueens, NY 1110718.878.1800

FOREST HILLS108-23 Ascan AvenueForest Hills, NY 11375718.520.0303

NEW JERSEYHOBOKEN200 Washington StreetHoboken, NJ 07030201.478.6700

MONTCLAIR635 Valley Road, Montclair, NJ 07030973.744.6033

HAMPTONSEAST HAMPTON2 Newtown LaneEast Hampton, NY 11937 631.324.6100

SOUTHAMPTON31 Main StreetSouthampton, NY 11968631.283.2883

CORPORATECOMMERCIAL SALES770 Lexington AvenueNew York, NY 10065212.381.3208

DEVELOPMENT MARKETING445 Park AvenueNew York, NY 10022212.521.5703

GLOBAL SERVICES770 Lexington AvenueNew York, NY 10065212. 381.6521

MANAGEMENT COMPANY770 Lexington Avenue, 7th floorNew York, NY, 10065212.508.7272