BROOKLYN RESIDENTIAL MARKET REPORT 2016 FOURTH QUARTER Data Highlights
Cover Property: halstead.com WEB# 16014956
The average apartment price reached a record
$834,944 in the fourth quarter
halstead.com WEB# 15591766
Townhouses set a record average price of Prices rose faster for condos than co-ops $1,046,951
halstead.com WEB# 15408145 All Brooklyn COOPERATIVES & CONDOMINIUMS*
COOPERATIVES & CONDOMINIUMS
Average & Median Sales Price
$685,731 $556,000 $668,512 $570,000 $736,247 $575,000 $830,391 $608,250 $834,944 $645,000
$900,000 The median apartment price rose $800,000
$700,000 16% over the past year to $645,000 $600,000
$500,000
$400,000
$300,000
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Average Sales Price Median Sales Price
COOPERATIVE CONDOMINIUM
Average Price Per Room Average Price Per Square Foot
$124,259 $123,925 $839 $895
$140,000 $900
$130,000 $850
$120,000 $800
$110,000 $750
$100,000 $700
$90,000 $650
$80,000 $600
4th Q15 4th Q16 4th Q15 4th Q16 * Includes new development and resale apartments. 4Q16 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 Property 3 All Brooklyn 1-4 FAMILY HOUSES
AVERAGE & MEDIAN SALES PRICE
$938,596 $750,000 $974,706 $815,000 $979,311 $800,000 $1,042,588 $838,370 $1,046,951 $850,000
$1,100,000 Townhouse prices averaged $468 per $1,000,000
$900,000 square foot, 16% more than the $800,000 fourth quarter of 2015 $700,000
$600,000
$500,000
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Average Sales Price Median Sales Price
AVERAGE PRICE PER SQUARE FOOT
$405 $438 $444 $456 $468
$500
$475
$450
$425
$400
$375
$350
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Halstead Property 4 Brooklyn Market Areas
BROWNSTONE NORTH Boerum Hill East Williamsburg Brooklyn Heights Greenpoint Carroll Gardens Williamsburg North Side Clinton Hill Williamsburg South Side Cobble Hill Npage 8 Columbia Street Waterfront District SOUTH Ditmas Park Bath Beach Downtown Brooklyn Bay Ridge Dumbo Bensonhurst Fort Greene Bergen Beach Gowanus Borough Park Greenwood Heights Brighton Beach Park Slope Canarsie Bpage 6 Prospect Heights Coney Island Prospect Park South Dyker Heights Prospect-Lefferts Gardens East Flatbush Red Hook Flatbush South Slope Flatlands Cpage 10 Vinegar Hill Gerritsen Beach Windsor Terrace Gravesend Kensington CENTRAL Manhattan Beach Bedford-Stuyvesant Marine Park Bushwick Midwood Crown Heights Mill Basin Stuyvesant Heights Sea Gate Brownsville Sheepshead Bay East New York Sunset Park
Spage 12 Brownstone Brooklyn COOPERATIVES & CONDOMINIUMS
COOPERATIVES & CONDOMINIUMS
Average & Median Sales Price
$973,380 $830,000 $930,537 $798,500 $974,269 $840,000 $1,188,265 $872,500 $1,268,001 $910,000
$1,300,000 New development closings pushed $1,200,000
$1,100,000 the average apartment price to
$1,000,000
$1,268,001 $900,000
$800,000
$700,000
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Average Sales Price Median Sales Price
COOPERATIVE CONDOMINIUM
Average Price Per Room Average Price Per Square Foot
$194,330 $201,994 $1,082 $1,174
$225,000 $1,200
$200,000 $1,100
$175,000 $1,000
$150,000 $900
$125,000 $800
$100,000 $700
$75,000 $600
4th Q15 4th Q16 4th Q15 4th Q16
Halstead Property 6 Brownstone Brooklyn 1-4 FAMILY HOUSES
AVERAGE & MEDIAN SALES PRICE
$2,266,683 $1,900,000 $2,284,085 $2,100,000 $2,137,075 $2,000,000 $2,263,134 $2,000,000 $2,369,353 $2,200,000
$2,750,000
$2,500,000
The average townhouse price $2,250,000
$2,000,000 rose 5% from a year ago, to $1,750,000
$2,369,353 $1,500,000
$1,250,000
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Average Sales Price Median Sales Price
AVERAGE PRICE PER SQUARE FOOT
$835 $880 $804 $839 $875
$950
$900
$850
$800
$750
$700
$650
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Halstead Property 7 North Brooklyn COOPERATIVES & CONDOMINIUMS
COOPERATIVES & CONDOMINIUMS
Average & Median Sales Price
$1,000,884 $900,000 $936,376 $806,000 $961,904 $781,500 $1,060,316 $842,500 $1,121,094 $1,030,000
$1,200,000 At $1,121,904, the average $1,100,000
$1,000,000 apartment price was 12% $900,000 higher than a year ago $800,000
$700,000
$600,000
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Average Sales Price Median Sales Price
$1,027 $1,048
$1,050
$1,025
$1,000
$975
$950
$925
$900
4th Q15 4th Q16
Halstead Property 8 North Brooklyn 1-4 FAMILY HOUSES
AVERAGE & MEDIAN SALES PRICE
$1,864,571 $1,825,000 $1,904,486 $1,681,250 $2,051,069 $1,700,000 $2,274,600 $1,894,000 $1,838,536 $1,767,500
$2,500,000
$2,250,000
$2,000,000
Townhouse prices fell slightly $1,750,000
$1,500,000 compared to 2015’s fourth quarter $1,250,000
$1,000,000
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Average Sales Price Median Sales Price
AVERAGE PRICE PER SQUARE FOOT
$728 $772 $915 $911 $867
$1,000
$900
$800
$700
$600
$500
$400
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Halstead Property 9 Central Brooklyn COOPERATIVES & CONDOMINIUMS
COOPERATIVES & CONDOMINIUMS
Average & Median Sales Price
$611,202 $565,000 $587,296 $575,000 $687,952 $652,000 $611,730 $554,250 $623,229 $600,000
$700,000
$600,000
Both the average and median $500,000
$400,000 apartment prices posted modest $300,000 gains over the past year $200,000
$100,000
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Average Sales Price Median Sales Price
CONDOMINIUM
Average Price Per Square Foot
$732 $702
$750
$700
$650
$600
$550
$500
$450
4th Q15 4th Q16
Halstead Property 10 Central Brooklyn 1-4 FAMILY HOUSES
AVERAGE & MEDIAN SALES PRICE
$742,991 $627,500 $832,569 $710,000 $806,150 $682,500 $843,372 $698,000 $898,103 $772,500
$900,000
$850,000
Townhouse prices rose $800,000
$750,000 sharply, reaching an average of $700,000
$898,103 $650,000
$600,000
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Average Sales Price Median Sales Price
AVERAGE PRICE PER SQUARE FOOT
$297 $341 $326 $344 $358
$375
$350
$325
$300
$275
$250
$225
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Halstead Property 11 South Brooklyn COOPERATIVES & CONDOMINIUMS
COOPERATIVES & CONDOMINIUMS
Average & Median Sales Price
$368,965 $315,000 $398,249 $349,500 $404,779 $355,000 $410,274 $370,000 $445,825 $375,000
$450,000
$400,000
Fueled by the condo market, South $350,000
$300,000 Brooklyn experienced strong pricing $250,000 gains over the past year $200,000
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Average Sales Price Median Sales Price
COOPERATIVE CONDOMINIUM
Average Price Per Room Average Price Per Square Foot
$73,512 $77,294 $496 $577
$85,000 $600
$80,000 $575
$75,000 $550
$70,000 $525
$65,000 $500
$60,000 $475
$55,000 $450
4th Q15 4th Q16 4th Q15 4th Q16
Halstead Property 12 South Brooklyn 1-4 FAMILY HOUSES
AVERAGE & MEDIAN SALES PRICE
$830,091 $730,000 $838,276 $777,000 $850,740 $750,250 $874,508 $793,000 $873,978 $781,500
$900,000
$850,000
The average townhouse price per $800,000
$750,000 square foot rose 11% from a $700,000
year ago, to $437 $660,000
$600,000
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Average Sales Price Median Sales Price
AVERAGE PRICE PER SQUARE FOOT
$392 $416 $435 $425 $437
$450
$425
$400
$375
$350
$325
$300
4th Q15 1st Q16 2nd Q16 3rd Q16 4th Q16
Halstead Property 13 OFFICES
MANHATTAN BROOKLYN CONNECTICUT NEW JERSEY Prepared by Gregory Heym, PARK AVENUE BROOKLYN HEIGHTS DARIEN HOBOKEN Chief Economist, 499 Park Avenue 150 Montague Street 671 Boston Post Road 200 Washington Street New York, NY 10022 Brooklyn, NY 11201 Darien, CT 06820 Hoboken, NJ 07030 Halstead Property, LLC. 212.734.0010 718.613.2000 203.655.1418 201.478.6700 ©2017 by Halstead Property, LLC. All Rights Reserved. This information EAST SIDE BOERUM HILL NEW CANAAN - ELM STREET MONTCLAIR may not be copied, commercially 770 Lexington Avenue 495 Atlantic Avenue 183 Elm Street 635 Valley Road, used or distributed without New York, NY 10065 Brooklyn, NY 11217 New Canaan, CT 06840 Montclair, NJ 07030 Halstead Property’s prior consent. 212.317.7800 718.613.2090 203.966.7800 973.744.6033 While information is believed true, no guaranty is made of accuracy. WEST SIDE PARK SLOPE NEW CANAAN - SOUTH AVENUE 408 Columbus Avenue 76 Seventh Avenue 6 South Avenue New York, NY 10024 Brooklyn, NY 11217 New Canaan, CT 06840 QUEENS 212.769.3000 718.399.2222 203,966.7772 LONG ISLAND CITY 47-12 Vernon Boulevard VILLAGE PARK SLOPE ROWAYTON Queens, NY 1110 831 Broadway 244 Fifth Avenue 140 Rowayton Avenue 718.878.1800 New York, NY 10003 Brooklyn, NY 11215 Rowayton, CT 06853 212.253.9300 718.622.9300 203.655.1418 HAMPTONS EAST HAMPTON SOHO COBBLE HILL GREENWICH 2 Newtown Lane 451 West Broadway 162 Court Street 125 Mason Street East Hampton, NY 11937 New York, NY 10012 Brooklyn, NY 11201 Greenwich, CT 06830 631.324.6100 212.253.9300 718.613.2020 203.869.8100 SOUTHAMPTON HARLEM BEDFORD STUYVESANT STAMFORD 31 Main Street 2169 Frederick Douglass Boulevard 316 Stuyvesant Avenue 1099 High Ridge Road Southampton, NY 11968 New York, NY 10026 Brooklyn, NY 11233 Stamford, CT 06905 631.283.2883 212.381.2570 718.613.2800 203.329.8801
WASHINGTON HEIGHTS SOUTH SLOPE OFFICE WESTPORT CORPORATE 819 West 187th Street 1214 8th Avenue 379 Post Road East COMMERCIAL SALES New York, NY 10033 Brooklyn, NY 11215 Westport, CT 06880 770 Lexington Avenue 212.928.3805 718.878.1888 203.221.0666 New York, NY 10065 212.381.3208 WILTON RIVERDALE HUDSON VALLEY 21 River Road DEVELOPMENT MARKETING Wilton, CT 06897 445 Park Avenue RIVERDALE JOHNSON HUDSON 203.762.8118 New York, NY 10022 3531 Johnson Avenue 526 Warren Street 212.253.9300 Riverdale, NY 10463 Hudson, NY 12534 718.878.1700 518.828.0181 GLOBAL SERVICES 770 Lexington Avenue RIVERDALE MOSHOLU New York, NY 10065 5626 Mosholu Avenue 800.765.2692 x6521 Riverdale, NY 10471 718.549.4116
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