Second Quarter 2021 Residential Market Report
Cooperatives & Condominiums Second Quarter 2021 Residential Market Report Second Quarter 2021 Residential Market Report Cooperatives & Condominiums Brooklyn BHSID 20845406 Message from Bess Freedman CEO of Brown Harris Stevens Brooklyn apartment prices averaged a record $965,575 in the second quarter, as demand remained incredibly strong. Closings more than doubled compared to a year ago, and were also up 26% from 2021’s first quarter. The number of contracts signed during the second quarter set a new record, so expect the number of closings to rise sharply in 3Q21. I’m also happy to announce we have made two major changes to our Brooklyn quarterly report beginning with this issue. First, instead of reporting on just four major areas, we now have data for 12 neighborhood groupings. This will allow us to present more localized and relevant data to you. Secondly, we are now just reporting on apartments, as townhouses will now have their own semiannual report. BHSID 20873538 BHS 2 Q2 2021 All Brooklyn Brooklyn apartment prices averaged a record $965,575 in the second quarter, which was 10% higher than a year ago. The average condo price per square foot also set a record, crossing the $1,000 mark for All Brooklyn BHSID 20221010 the first time. BHS 3 Q2 2021 All Brooklyn* BHSID 20828157 Cooperatives & Condominiums Average & Median Sales Price $1 ,200 ,0 00 $1,000,000 $965,575 $936,985 $880,729 $874,892 $835,030 $810,000 $792,000 $800,000 $760,000 $700,000 $692,410 $600,000 $400,000 2Q20 3Q20 4Q20 1Q 21 2Q21 Average Price Median Price Cooperative Condominium Average Price Per Room Average Price Per Square Foot $250,000 $1,2 50 $1,008 $200,000 $1,000 $969 $181,808 $162,425 $150,000 $750 $100,000 $500 $50,000 $250 2Q20 2Q21 2Q20 2Q21 * Includes new development and resale apartments.
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