Signed Contracts

Current Month Prior Month % Prior Year %Market Wide1 May 2016 April 2016 Change May 2015 Change

Average Sale Price $1,232,501 $1,240,937 -1% $1,254,414 -2%

Median Sale Price $995,000 $980,000 0% $986,500 1%

Average Price per Square Foot $847 $895 -5% $843 0%

Average Days on Market 44 43 2% 51 -14%

Difference from Last Ask to Sale -0.02% -0.17% N/A 1.89% N/A

Percent of Sales Sold Below Ask 33% 34% N/A 24% N/A

Listed Apartment Inventory 2 2,245 2,346 -4% 2,279 -1%

Number of Contracts Signed 414 425 -3% 525 -21%

$873 $8

91 $1,0

53

$759$9

15

$906

$996

$887

$0

$200

$400

$600

$800

$1,000

$1,200

+321oidutS

Pric

e pe

r Squ

are

Foot

Bedroom Type

May 2015 May 2016

5% -5%Reflects % Change 4% 17%

0

500

1,000

1,500

2,000

2,500

3,000

May

-15

Jun-

15

Jul-1

5

Aug

-15

Sep

-15

Oct

-15

Nov

-15

Dec

-15

Jan-

16

Feb-

16

Mar

-16

Apr

-16

May

-16

Num

ber

of U

nits

Lis

ted

Apartment Listings New Listings

May 2016The Corcoran ReportBrooklyn Monthly Market Snapshot

Market Wide Summary

May 2016 in Brooklyn was marked by steady average and median sale prices compared to the same time last year. Versus

April, average and median sale price was also unchanged. Average price per square foot was 5% lower, likely due to the drop

in two bedroom prices - the bulk of the market. Inventory was down slightly from a year ago, but contract activity was down

a significant 21% versus the same time period. 33% of sales this month were below asking price compared to 24% of sales a

year ago, when the average sale price was higher than the average asking price. Time from list date to contract date was 44

days, 14% shorter than last year. Average price per square foot of all bedroom types grew except for two bedrooms. Three +

bedroom average price per square foot was up 17% versus last year when a larger portion of townhouses sold, skewing price

per square foot downward.

1. Statistics are based on Corcoran Group’s monthly signed contract data, with the exception of “Listed Inventory” and “Number of Contracts Signed”.

Statistics include condominium, co-operative and townhouse sales unless otherwise noted.

2. Statistics include condominium and co-operatives only.

All material herein is intended for information purposes only and has been compiled from sources deemed reliable.

Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal without notice.

This is not intended to solicit property already listed. Equal Housing Opportunity. The Corcoran Group is a licensed real estate broker. Owned and operated by NRT LLC.

Brooklyn Apartment Listings

For the first time in nearly two years, overall Brooklyn apartment inventory dipped year-over-year. Inventory decreased 1%

from last year to 2,545 listings, but the decline was fueled solely by the dip in co-op listings, as condo inventory was up year-

over-year. There were also fewer new listings overall in the market, which were down 13% from a year ago.

May 2016The Corcoran ReportBrooklyn Monthly Market Snapshot

$873 $8

91 $1,0

53

$759$9

15

$906

$996

$887

$0

$200

$400

$600

$800

$1,000

$1,200

+321oidutSPr

ice

per S

quar

e Fo

otBedroom Type

May 2015 May 2016

5% -5%Reflects % Change 4% 17%

0

500

1,000

1,500

2,000

2,500

3,000

May

-15

Jun-

15

Jul-1

5

Aug

-15

Sep

-15

Oct

-15

Nov

-15

Dec

-15

Jan-

16

Feb-

16

Mar

-16

Apr

-16

May

-16

Num

ber

of U

nits

Lis

ted

Apartment Listings New Listings