BROOKLYN RESIDENTIAL
MARKET REPORTTHIRD QUARTER2016
Data HighlightsCover Property: halstead.com WEB# 15363401
halstead.com WEB# 15530098
halstead.com WEB# 15378129
The average price per square foot rose 18% for townhouses, to a record $469
Apartment prices reached new records, fueled by a surge of luxury
new development closings
Townhouse prices averaged
over $1 million for
the first time
Halstead Property 3
* Includes new development and resale apartments.3Q16 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 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
$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
$900
$850
$800
$750
$700
$600
$650
$135,093 $139,026 $834 $880
3rd Q15 3rd Q16 3rd Q15 3rd Q16
$669,172 $570,000
1st Q16
$685,273 $553,500
4th Q15
$724,978 $570,000
3rd Q15
$815,176 $599,000
3rd Q16
$734,950 $577,300
2nd Q16
12% The increase in the average apartment
price, to a record $815,176
All Brooklyn1-4 FAMILY HOUSES
Halstead Property 4
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
Average Sales Price Median Sales Price
$1,000,000
$900,000
$800,000
$700,000
$600,000
$400,000
$500,000
$500
$475
$450
$425
$400
$350
$375
$398
3rd Q15
$405
4th Q15
$979,571 $800,000
2nd Q16
$938,898 $750,000
4th Q15
$975,289 $815,000
1st Q16
$949,128 $746,000
3rd Q15
$1,069,298 $840,000
3rd Q16
$438
1st Q16
$444
2nd Q16
$469
3rd Q16
Townhouse prices climb 13%
from 3Q15
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
Halstead Property 6
CONDOMINIUM
COOPERATIVES & CONDOMINIUMS
COOPERATIVE
Average & Median Sales Price
Average Price Per Room Average Price Per Square Foot
Average Sales Price Median Sales Price
$1,250,000
$1,150,000
$1,050,000
$950,000
$850,000
$650,000
$750,000
$225,000
$200,000
$175,000
$150,000
$125,000
$75,000
$100,000
$1,500
$1,000
$950
$900
$850
$750
$800
$211,353 $212,155 $1,089 $1,107
$930,537 $798,500
1st Q16
$972,706 $829,000
4th Q15
$1,024,354 $849,000
3rd Q15
$1,167,607 $850,000
3rd Q16
$980,603 $840,000
2nd Q16
3rd Q15 3rd Q16 3rd Q15 3rd Q16
The average apartment price rose
14%, but the median price was
virtually unchanged from a year ago
Halstead Property 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
$811
3rd Q15
$835
4th Q15
$2,284,085 $2,100,000
1st Q16
$2,320,242 $2,100,000
3rd Q15
$2,266,683 $1,900,000
4th Q15
$2,379,740 $2,036,500
3rd Q16
$2,123,538 $2,000,000
2nd Q16
$880
1st Q16
$801
2nd Q16
$861
3rd Q16
$2,750,000
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
3% increase in the average
townhouse price from 3Q15
Halstead Property 8
North BrooklynCOOPERATIVES & CONDOMINIUMS
COOPERATIVES & CONDOMINIUMSAverage & Median Sales Price
Average Sales Price Median Sales Price
$1,100,000
$1,000,000
$900,000
$800,000
$700,000
$500,000
$600,000
CONDOMINIUMAverage Price Per Square Foot
$1,025
$1,000
$975
$950
$925
$875
$900
$926 $1,010
$936,376 $806,000
1st Q16
$1,000,884 $900,000
4th Q15
$975,015 $805,000
3rd Q15
$1,015,207 $840,000
3rd Q16
$941,343 $780,000
2nd Q16
3rd Q15 3rd Q16
4% Increase in both the average
and median apartment prices
compared to 2015’s third quarter
Halstead Property 9
North Brooklyn1-4 FAMILY HOUSES
Average Sales Price Median Sales Price
$2,250,000
$2,000,000
$1,750,000
$1,500,000
$1,250,000
$1,000,000
$1,000
$900
$800
$700
$600
$400
$500
$752
3rd Q15
$728
4th Q15
$1,904,486 $1,681,250
1st Q16
$1,880,372 $1,725,000
3rd Q15
$1,864,571 $1,825,000
4th Q15
$2,283,136 $1,700,000
3rd Q16
$2,066,590 $1,737,500
2nd Q16
$772
1st Q16
$928
2nd Q16
$952
3rd Q16
$2,500,000
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
Townhouse prices averaged
$952 per square foot
Halstead Property 10
Central BrooklynCOOPERATIVES & CONDOMINIUMS
COOPERATIVES & CONDOMINIUMSAverage & Median Sales Price
Average Sales Price Median Sales Price
$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
$679 $655
$587,296 $575,000
1st Q16
$611,202 $565,000
4th Q15
$590,697 $560,000
3rd Q15
$605,970 $590,000
3rd Q16
$692,082 $656,000
2nd Q16
3rd Q15 3rd Q16
Both the average and median
apartment prices rose
modestly over the past year
Central Brooklyn1-4 FAMILY HOUSES
Halstead Property 11
Average Sales Price Median Sales Price
$850,000
$800,000
$750,000
$700,000
$650,000
$600,000
$375
$350
$325
$300
$275
$225
$250
$294
3rd Q15
$297
4th Q15
$832,763 $710,000
1st Q16
$754,212 $657,500
3rd Q15
$742,991 $627,500
4th Q15
$880,471 $725,000
3rd Q16
$807,218 $685,000
2nd Q16
$341
1st Q16
$326
2nd Q16
$360
3rd Q16
$900,000
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
On average, townhouses sold for
17% more than a year ago
South BrooklynCOOPERATIVES & CONDOMINIUMS
Halstead Property 12
CONDOMINIUM
COOPERATIVES & CONDOMINIUMS
COOPERATIVE
Average & Median Sales Price
Average Price Per Room Average Price Per Square Foot
Average Sales Price Median Sales Price
$400,000
$350,000
$300,000
$250,000
$200,000
$100,000
$150,000
$85,000
$80,000
$75,000
$70,000
$65,000
$55,000
$60,000
$525
$500
$475
$450
$400
$350
$375
$73,209 $78,181 $485 $525
$398,301 $349,000
1st Q16
$368,965 $315,000
4th Q15
$363,490 $320,000
3rd Q15
$401,618 $358,000
3rd Q16
$405,213 $356,500
2nd Q16
3rd Q15 3rd Q16 3rd Q15 3rd Q16
The median apartment price rose
12% from the third quarter of 2015
South Brooklyn1-4 FAMILY HOUSES
Halstead Property 13
Average Sales Price Median Sales Price
$850,000
$800,000
$750,000
$700,000
$660,000
$600,000
$450
$425
$400
$375
$350
$300
$325
$374
3rd Q15
$392
4th Q15
$838,755 $777,000
1st Q16
$798,497 $700,000
3rd Q15
$830,508 $732,500
4th Q15
$870,780 $785,000
3rd Q16
$853,210 $759,500
2nd Q16
$416
1st Q16
$436
2nd Q16
$431
3rd Q16
$900,000
AVERAGE PRICE PER SQUARE FOOT
AVERAGE & MEDIAN SALES PRICE
15% increase in the average townhouse price per square foot from 2015’s third quarter
Prepared by Gregory Heym,
Chief Economist,
Halstead Property, LLC.
©2016 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.
OFFICES
MANHATTANPARK 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 10003212.253.9300
SOHO451 West BroadwayNew York, NY 10012212.253.9300
HARLEM2169 Frederick Douglass BoulevardNew York, NY 10026212.381.2570
WASHINGTON HEIGHTS819 West 187th StreetNew York, NY 10033212.928.3805
RIVERDALERIVERDALE JOHNSON3531 Johnson AvenueRiverdale, NY 10463718.878.1700
RIVERDALE MOSHOLU5626 Mosholu AvenueRiverdale, NY 10471718.549.4116
BROOKLYNBROOKLYN HEIGHTS150 Montague StreetBrooklyn, NY 11201718.613.2000
BOERUM HILL495 Atlantic AvenueBrooklyn, NY 11217718.613.2090
PARK SLOPE76 Seventh AvenueBrooklyn, NY 11217718.399.2222
PARK SLOPE244 Fifth AvenueBrooklyn, NY 11215718.622.9300
COBBLE HILL162 Court StreetBrooklyn, NY 11201718.613.2020
BEDFORD STUYVESANT316 Stuyvesant AvenueBrooklyn, NY 11233718.613.2800
SOUTH SLOPE OFFICE1214 8th AvenueBrooklyn, NY 11215718.878.1888
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
NEW JERSEYHOBOKEN200 Washington StreetHoboken, NJ 07030201.478.6700
MONTCLAIR635 Valley Road, Montclair, NJ 07030973.744.6033
QUEENSLONG ISLAND CITY47-12 Vernon BoulevardQueens, NY 1110718.878.1800
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 10022212.253.9300
GLOBAL SERVICES770 Lexington AvenueNew York, NY 10065800.765.2692 x6521
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