fourth quarter 2015 - the real deal · 2016-01-21 · average townhouse price per square foot of...
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Brooklyn residential Market report
Fourth Quarter
2015
Average townhouse price per square foot
of $411 sets record
Data Highlights
Average apartment price of $687,701
10% higher than 4Q14
Median price rose
11% to $553,500
Cover Property: BrownHarrisStevens.com WEB# 13911448
BrownHarrisStevens.com WEB# 14146299
BrownHarrisStevens.com WEB# 13258118
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
Brown Harris Stevens 3
$800,000
$700,000
$600,000
$500,000
$400,000
$200,000
$300,000
$140,000
$130,000
$120,000
$110,000
$100,000
$80,000
$90,000
$850
$825
$800
$775
$750
$700
$725
$112,235 $126,083 $770 $827
4th Q14 4th Q15 4th Q14 4th Q15
BrownHarrisStevens.com WEB# 12994485
Brooklyn’s average apartment price rose
10% from a year ago to $687,701.
Co-op prices averaged $126,803 per room,
12% higher than 2014’s fourth quarter.
$627,942 $500,000
4th Q14
$687,701 $553,500
4th Q15
$727,052 $570,000
3rd Q15
$683,336 $557,653
2nd Q15
$638,049 $520,000
1st Q15
* Includes new development and resale apartments.4Q15 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.
BrownHarrisStevens.com WEB# 12704169
All Brooklyn1-4 FAMIly HOUSES
aVerage PriCe Per sQuare Foot
aVerage & median sales PriCe
average Sales price Median Sales price
Brown Harris Stevens 4
$1,000,000
$900,000
$800,000
$700,000
$600,000
$400,000
$500,000
$420
$400
$380
$360
$340
$300
$320
$398
3rd Q15
$411
4th Q15
BrownHarrisStevens.com WEB# 13291297
Both the average and median townhouse
price 12% above last year’s
comparable period.
Average townhouse price per square foot
reaches record of $411.
$849,035 $675,000
4th Q14
$955,554 $750,000
3rd Q15
$952,898 $759,000
4th Q15
$952,491 $745,000
2nd Q15
$936,210 $750,000
1st Q15
$354
4th Q14
$384
1st Q15
$392
2nd Q15
BrownHarrisStevens.com WEB# 14093195
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
Bushwick
Crown Heights
Stuyvesant Heights
Brownsville
East New York
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
Seagate
Sheepshead Bay
Sunset Park
B
s
C
npage 8
page 10
page 6
page 12
Brooklyn Market Areas
Brownstone 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
Brown Harris Stevens 6
$1,050,000
$950,000
$850,000
$750,000
$650,000
$450,000
$550,000
$225,000
$200,000
$175,000
$150,000
$125,000
$75,000
$100,000
$2,000
$1,050
$1,000
$950
$900
$800
$850
$178,944 $194,140 $997 $1,075
12% increase in the average
apartment price over past year to $976,490.
Median price rose 11% to
$831,101.
$873,285 $750,000
4th Q14
$976,490 $831,101
4th Q15
$1,025,090 $849,000
3rd Q15
$923,278 $775,000
2nd Q15
$889,119 $765,000
1st Q15
BrownHarrisStevens.com WEB# 13258118
BrownHarrisStevens.com WEB# 12426513
4th Q14 4th Q15 4th Q14 4th Q15
Brownstone Brooklyn1-4 FAMIly HOUSES
average Sales price Median Sales price
Brown Harris Stevens 7
$2,500,000
$2,250,000
$2,000,000
$1,750,000
$1,500,000
$1,250,000
$850
$825
$800
$775
$750
$700
$725
$806
3rd Q15
$832
4th Q15
Average townhouse price up
1% from 2014’s fourth quarter.
Average price per square foot
11% higher than a year ago.
$2,209,213 $1,900,000
4th Q14
$2,365,078 $2,100,000
3rd Q15
$2,226,186 $1,857,500
4th Q15
$2,417,178 $2,025,000
2nd Q15
$2,163,761 $1,800,000
1st Q15
$748
4th Q14
$750
1st Q15
$802
2nd Q15
$2,750,000
aVerage PriCe Per sQuare Foot
aVerage & median sales PriCe
BrownHarrisStevens.com WEB# 13192165
North BrooklynCOOPERATIVES & CONDOMINIUMS
CooPeratiVes & Condominiumsaverage & Median Sales price
average Sales price Median Sales price
Brown Harris Stevens 8
$1,100,000
$1,000,000
$900,000
$800,000
$700,000
$500,000
$600,000
Condominiumaverage price per Square Foot
$1,020
$1,000
$980
$960
$940
$900
$920
$1,017 $1,016
4th Q14 4th Q15
3% Gain in the average
apartment price over past year.
Condo average price per square foot
virtually unchanged.
$976,401 $872,500
4th Q14
$1,002,170 $909,000
4th Q15
$973,112 $800,000
3rd Q15
$1,093,784 $900,000
2nd Q15
$1,002,071 $865,000
1st Q15
BrownHarrisStevens.com WEB# 12702313
BrownHarrisStevens.com WEB# 12737235
North Brooklyn1-4 FAMIly HOUSES
average Sales price Median Sales price
Brown Harris Stevens 9
$2,250,000
$2,000,000
$1,750,000
$1,500,000
$1,250,000
$1,000,000
$900
$800
$700
$600
$500
$300
$400
$752
3rd Q15
$726
4th Q15
Median townhouse price 13%
higher than the fourth quarter of 2014.
3% decline in the average price
per square foot.
$1,703,867 $1,549,000
4th Q14
$1,880,372 $1,725,000
3rd Q15
$1,830,581 $1,750,000
4th Q15
$2,007,218 $1,778,000
2nd Q15
$2,332,511 $1,655,000
1st Q15
$746
4th Q14
$782
1st Q15
$830
2nd Q15
$2,500,000
aVerage PriCe Per sQuare Foot
aVerage & median sales PriCe
Central BrooklynCOOPERATIVES & CONDOMINIUMS
CooPeratiVes & Condominiumsaverage & Median Sales price
average Sales price Median Sales price
Brown Harris Stevens 10
$700,000
$600,000
$500,000
$400,000
$300,000
$100,000
$200,000
Condominiumaverage price per Square Foot
$750
$700
$650
$600
$550
$450
$500
$555 $718
4th Q14 4th Q15
12% Increase in the average
apartment price compared to a year ago.
Condo price per square foot rose sharply to
$718.
$530,372 $503,000
4th Q14
$595,949 $553,500
4th Q15
$593,044 $560,000
3rd Q15
$585,851 $608,250
2nd Q15
$620,378 $560,000
1st Q15
Central Brooklyn1-4 FAMIly HOUSES
average Sales price Median Sales price
Brown Harris Stevens 11
$750,000
$700,000
$650,000
$600,000
$550,000
$500,000
$325
$300
$275
$250
$225
$175
$200
$294
3rd Q15
$307
4th Q15
Strong increases in both the average
and median townhouse price.
$307 Average townhouse
price per square foot.
$624,942 $530,000
4th Q14
$755,889 $660,000
3rd Q15
$767,226 $660,000
4th Q15
$703,376 $635,000
2nd Q15
$723,422 $638,000
1st Q15
$239
4th Q14
$278
1st Q15
$278
2nd Q15
$800,000
aVerage PriCe Per sQuare Foot
aVerage & median sales PriCe
BrownHarrisStevens.com WEB# 12765124
South 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
Brown Harris Stevens 12
$400,000
$350,000
$300,000
$250,000
$200,000
$100,000
$150,000
$75,000
$70,000
$65,000
$60,000
$55,000
$45,000
$50,000
$530
$500
$470
$440
$410
$350
$380
$64,271 $74,406 $473 $490
4th Q14 4th Q15 4th Q14 4th Q15
Apartment prices averaged $372,679, 6% more than a year ago.
Average co-op price of $74,406 per room a
16% improvement from 2014’s
fourth quarter.
$350,453 $300,000
4th Q14
$372,679 $320,000
4th Q15
$365,107 $320,000
3rd Q15
$363,734 $305,000
2nd Q15
$349,100 $280,000
1st Q15
BrownHarrisStevens.com WEB# 13177539
South Brooklyn1-4 FAMIly HOUSES
average Sales price Median Sales price
Brown Harris Stevens 13
$800,000
$750,000
$700,000
$650,000
$600,000
$550,000
$400
$380
$360
$340
$340
$300
$320
$375
3rd Q15
$393
4th Q15
13% increase in the average
townhouse price to $837,479.
Median price rose 7%.
$741,780 $680,500
4th Q14
$800,675 $700,000
3rd Q15
$837,479 $730,000
4th Q15
$777,979 $694,000
2nd Q15
$771,609 $707,000
1st Q15
$345
4th Q14
$360
1st Q15
$364
2nd Q15
$850,000
aVerage PriCe Per sQuare Foot
aVerage & median sales PriCe
NEW YORK CITY • THE HAMPTONS • PALM BEACH • MIAMI 212.906.9200
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Contact us
CEntrAl PArk
West Side1926 BroadwayKevin Kovesci, EVPManaging Director of Sales
Downtown130 Fifth AvenueStephen Klym, EVP Managing Director of SalesDenine TownsendSales Director
Tribeca43 North MooreStephen Klym, EVP Managing Director of SalesDenine TownsendSales Director
East Side445 Park AvenueHall F. Willkie, PresidentBess Freedman, EVP Managing Director of Sales and Business DevelopmentRuth McCoy, EVPManaging Director of SalesRichard Ferrari, EVPManaging Director of Sales
Brown Harris Stevens Development Marketing445 Park AvenueStephen Kliegerman, President
Upper East Side1121 Madison AvenuePeter R. Marra, EVPManaging Director of SalesSarah Orlinsky-Maitland, EVPManaging Director of Sales
Edward Lee Cave Division790 Madison AvenueCaroline E. y. GuthriePresident
Brooklyn Heights129 Montague StreetChristopher Thomas, EVPManaging Director of Sales
Park Slope100 Seventh AvenueCamille logan, EVPManaging Director of Sales
Prepared by Gregory Heym, Chief Economist, Brown Harris Stevens.©2016 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.
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