Fourth Quarter 2019 Market Report Brooklyn Residentialmedia.bhsusa.com/pdf/4Q19-MR-BklynBHS.pdfData...

Fourth Quarter 2019Market Report Brooklyn Residential

Brown Harris Stevens 2

Data Highlights

Cover Property: BrownHarrisStevens.com WEB# 19987703

BrownHarrisStevens.com WEB# 19940692


Fourth Quarter 2019

Brooklyn apartment prices were

little changed compared to a

year ago.

While co-op prices drifted lower, the

average condo price per square foot

rose 7%.

The median 1-3 family home price fell slightly in Brooklyn from 2018’s fourth quarter.


* Includes new development and resale apartments.4Q19 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.

All Brooklyn Cooperatives & Condominiums

Condominium

Cooperatives & Condominiums

Cooperative

Average & Median Sales Price

Average Price Per Room Average Price Per Square Foot

Fourth Quarter 2019


The average apartment price finished the year

slightly higher than in 2018, at $816,604.

Condo prices averaged $973 per square foot, 7% more than 2018’s fourth quarter.

BrownHarrisStevens.com WEB# 19966099 $8

13,5

03

$782

,464

$917

,826

$833

,962

$816

,604

$675

,000

$635

,703

$722

,241

$661

,863

$673

,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000

$1,100,000

$1,200,000

4Q18 1Q19 2Q19 3Q19 4Q19

Average Price Median Price

$152

,233

$147

,241

$100,000

$110,000

$120,000

$130,000

$140,000

$150,000

$160,000

4Q18 4Q19

$911

$973

$700

$750

$800

$850

$900

$950

$1,000

4Q18 4Q19


$1,13

1,091

$1,11

9,58

4 $1,2

38,5

47

$1,11

3,12

1

$1,13

1,812

$938

,000

$890

,000

$950

,000

$900

,000

$930

,000

$700,000

$800,000

$900,000

$1,000,000

$1,100,000

$1,200,000

$1,300,000

$1,400,000

4Q18 1Q19 2Q19 3Q19 4Q19


All Brooklyn 1-3 Family Houses

Average Price Per Square Foot


Fourth Quarter 2019

$531

$514

$542

$516

$522

$400

$450

$500

$550

$600

4Q18 1Q19 2Q19 3Q19 4Q19BrownHarrisStevens.com WEB# 19948196


At $1,131,812, the average 1-3 family price was virtually unchanged over the past year.

The median price fell 1% to $930,000.

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

Brooklyn Market Areas

Bpage 6

Npage 8

Spage 12

Cpage 10


Brownstone Brooklyn Cooperatives & Condominiums Fourth Quarter 2019



Condominium


Cooperative



$223

,843

$217

,502

$75,000

$100,000

$125,000

$150,000

$175,000

$200,000

$225,000

$250,000

4Q18 4Q19

$1,16

7

$1,18

9

$700

$800

$900

$1,000

$1,100

$1,200

$1,300

4Q18 4Q19

$1,2

00,6

88

$1,0

98,2

42

$1,2

82,10

7

$1,13

2,98

0

$1,0

69,7

69

$947

,500

$900

,000

$1,0

37,5

00

$950

,000

$909

,145

$700,000

$800,000

$900,000

$1,000,000

$1,100,000

$1,200,000

$1,300,000

$1,400,000

$1,500,000

4Q18 1Q19 2Q19 3Q19 4Q19


The median apartment price fell 4% from the

fourth quarter of 2018.

Co-op prices averaged $217,502 per room, 3% less than a year ago.


Brownstone Brooklyn 1-3 Family Houses Fourth Quarter 2019


BrownHarrisStevens.com WEB# 19988588 $2

,573

,383

$2,2

26,6

31

$2,8

38,9

41

$2,17

6,33

1

$2,3

08,0

35

$2,15

0,00

0

$2,2

00,0

00

$2,3

50,0

00

$1,9

79,0

00

$2,2

00,0

00

$1,500,000

$1,750,000

$2,000,000

$2,250,000

$2,500,000

$2,750,000

$3,000,000

$3,250,000

4Q18 1Q19 2Q19 3Q19 4Q19




$939

$889

$967

$868

$888

$750

$800

$850

$900

$950

$1,000

$1,050

4Q18 1Q19 2Q19 3Q19 4Q19

The average 1-3 family price of $2,308,035 was

10% lower than 2018’s fourth quarter.


North Brooklyn Cooperatives & Condominiums Fourth Quarter 2019


Condominium

Cooperatives & CondominiumsAverage & Median Sales Price


$1,0

74,2

12 $1

,226

,897

$1,2

86,6

96

$1,2

47,8

12

$1,19

0,18

3

$960

,000

$1,0

69,16

3

$1,14

5,53

1

$1,10

7,49

2

$991

,397

$700,000

$800,000

$900,000

$1,000,000

$1,100,000

$1,200,000

$1,300,000

$1,400,000

$1,500,000

4Q18 1Q19 2Q19 3Q19 4Q19


$1,11

5

$1,16

0

$950

$1,000

$1,050

$1,100

$1,150

$1,200

$1,250

4Q18 4Q19

The median price rose 3% over the past year for

apartments in North Brooklyn.

Condo prices averaged $1,160 per square foot, a 4% gain compared to a year ago.


North Brooklyn 1-3 Family Houses Fourth Quarter 2019

$1,9

49,2

86

$2,11

5,28

1

$2,2

22,7

19

$1,9

32,3

48

$2,0

56,14

3

$1,7

90,0

00

$2,0

00,0

00

$2,0

09,12

5

$1,8

00,0

00

$1,9

05,0

00

$1,000,000

$1,250,000

$1,500,000

$1,750,000

$2,000,000

$2,250,000

$2,500,000

$2,750,000

4Q18 1Q19 2Q19 3Q19 4Q19Average Price Median Price



$910

$843

$861

$870

$798

$500

$600

$700

$800

$900

$1,000

4Q18 1Q19 2Q19 3Q19 4Q19

At $2,056,143, the average 1-3 family price was

5% higher than 2018’s fourth quarter.


Central Brooklyn Cooperatives & Condominiums Fourth Quarter 2019

Condominium

Cooperatives & CondominiumsAverage & Median Sales Price


$731

,643

$690

,060

$726

,544

$661

,312

$667

,634

$691

,595

$657

,280

$691

,595

$593

,000

$605

,500

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

4Q18 1Q19 2Q19 3Q19 4Q19


$749

$793

$550

$600

$650

$700

$750

$800

$850

$900

4Q18 4Q19

Both the average and median prices fell compared

to a year ago for Central Brooklyn apartments


Central Brooklyn 1-3 Family Houses Fourth Quarter 2019

$891

,734

$922

,078

$960

,201

$911

,794

$994

,037

$830

,000

$811

,250

$847

,000

$806

,500

$855

,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000

$1,100,000

$1,200,000




$407

$391

$419

$395

$419

$250

$300

$350

$400

$450

$500



The average price per square foot rose 3% over the past year to $419.


South Brooklyn Cooperatives & Condominiums Fourth Quarter 2019



Condominium


Cooperative



$95,

815

$97,

635

$60,000

$70,000

$80,000

$90,000

$100,000

$110,000

4Q18 4Q19

$681

$623

$550

$570

$590

$610

$630

$650

$670

$690

4Q18 4Q19

$492

,342

$433

,699

$473

,665

$471

,752

$471

,873

$444

,132

$379

,000

$437

,500

$440

,000

$413

,500

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000


Apartment prices averaged 4% less in South

Brooklyn compared to 2018’s fourth quarter.

The average condo price per square foot was 9% lower than a year ago.


South Brooklyn 1-3 Family Houses Fourth Quarter 2019

$974

,479

$974

,563

$976

,961

$1,0

10,2

07

$981

,578

$880

,000

$845

,000

$880

,000

$880

,000

$875

,000

$700,000

$750,000

$800,000

$850,000

$900,000

$950,000

$1,000,000

$1,050,000

$1,100,000

$1,150,000

4Q18 1Q19 2Q19 3Q19 4Q19




$498

$492

$493

$502

$499

$400

$450

$500

$550



The average price of a 1-3 family house ticked up

1% over the past year.

©2020 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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Contact us

CENTRAL PARK

West Side1926 BroadwayKevin Kovesci, EVPManaging Director of Sales

Downtown130 Fifth AvenueStephen Klym, EVP Managing Director of Sales

Tribeca43 North MooreStephen Klym, EVP Managing Director of Sales

Brooklyn Heights129 Montague StreetChristopher Thomas, EVPManaging Director of Sales

Park Slope100 Seventh AvenueCamille Logan, EVPManaging Director of Sales

Brown Harris Stevens Development Marketing445 Park AvenueStephen Kliegerman, President, Development Marketing

Madison Avenue790 Madison AvenueCaroline E. Y. GuthrieManaging Director of Sales

East Side445 Park AvenueBess Freedman, CEOHall F. Willkie, PresidentRuth McCoy, EVPManaging Director of SalesNeil M. Laurine, EVPManaging Director of Sales

BHS Residential ManagementPaul J. Herman, PresidentResidential Management LLC

Park Slope244 Fifth AvenueCamille Logan, EVPManaging Director of Sales

Fourth Quarter 2019 Market Report Brooklyn Residentialmedia.bhsusa.com/pdf/4Q19-MR-BklynBHS.pdfData...

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