First Quarter 2020 Market Report Brooklyn Residential Data Highlights First Quarter 2020
Cover Property: halstead.com WEB# 20075694
The average Brooklyn apartment price rose 5% over the past year to $824,010.
At $655,884, the median apartment price was 3% higher in Brooklyn than 2019’s first quarter.
halstead.com WEB# 20078137
Townhouse prices averaged $1,206,298 in Brooklyn, an 8% improvement over
a year ago.
halstead.com WEB# 19809013 Halstead 2 All Brooklyn Cooperatives & Condominiums First Quarter 2020
Cooperatives & Condominiums
Average & Median Sales Price
$781,171 $635,000 $917,734 $722,241 $833,898 $660,000 $809,325 $670,000 $824,010 $655,884
$1,000,000
$ 90 0,0 00
$ 80 0,0 00 halstead.com WEB# 20068181 $ 70 0,0 00
$ 60 0,0 00
$ 50 0,0 00
$ 40 0,0 00 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Average Sales Price Median Sales Price
Cooperative Condominium
Average Price Per Room Average Price Per Square Foot halstead.com WEB# 20055586
$143,615 $148,152 $922 $953
$ 16 0,0 00 $ 1,00 0
Prices for Brooklyn apartments averaged $ 15 0,0 00 $950
5% more than in 2019’s first quarter. $ 14 0,0 00 $900
$ 13 0,0 00 $850 Gains were seen in both co-op and $ 12 0,0 00 $800 condo prices. $ 11 0,0 00 $750
$ 10 0,0 00 $700 1st Q 19 1st Q 20 1st Q 19 1st Q 20 * Includes new development and resale apartments. 1Q20 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 3 All Brooklyn 1-3 Family Houses First Quarter 2020
Average & Median Sales Price
$1,119,584 $890,000 $1,239,515 $950,000 $1,112,484 $900,000 $1,159,029 $925,000 $1,206,298 $979,000
$1,300,000
$1,200,000
$1,100,000 halstead.com WEB# 19978202 $1,000,000
$ 90 0,0 00
$ 80 0,0 00
$ 70 0,0 00 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Average Sales Price Median Sales Price
Average Price Per Square Foot halstead.com WEB# 20082069
$514 $543 $516 $521 $539
$550
The average townhouse price rose 8% $500 from last year, reaching $1,206,298.
$450 At $979,000, the median townhouse price
$400 was 10% higher than a year ago.
$350 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Halstead 4 Brooklyn Market Areas
Brownstone Boerum Hill North East Williamsburg Brooklyn Heights Greenpoint Carroll Gardens Williamsburg North Side Clinton Hill Williamsburg South Side Cobble Hill page 8 Columbia Street Waterfront District N Ditmas Park South Bath Beach Downtown Brooklyn Bay Ridge Dumbo Bensonhurst Fort Greene Bergen Beach Gowanus Borough Park Greenwood Heights Brighton Beach Park Slope Canarsie page 6 Prospect Heights B Coney Island Prospect Park South Dyker Heights Prospect-Lefferts Gardens East Flatbush Red Hook Flatbush South Slope Flatlands Vinegar Hill Cpage 10 Gerritsen Beach Windsor Terrace Gravesend Central Kensington Manhattan Beach Bedford-Stuyvesant Marine Park Brownsville Midwood Bushwick Mill Basin Crown Heights Sea Gate East New York Sheepshead Bay Stuyvesant Heights Sunset Park Spage 12 Brownstone Brooklyn Cooperatives & Condominiums First Quarter 2020
Cooperatives & Condominiums Average & Median Sales Price
$1,096,536 $900,000 $1,282,163 $1,040,000 $1,132,980 $950,000 $1,068,961 $900,000 $1,158,251 $972,500
$1,300,000
$1,200,000
$1,100,000 halstead.com WEB# 20031383
$1,000,000
$ 90 0,0 00
$ 80 0,0 00 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Average Sales Price Median Sales Price
Cooperative Condominium
Average Price Per Room Average Price Per Square Foot halstead.com WEB# 19972805
$214,119 $218,131 $1,142 $1,160
$ 25 0,0 00 $ 1,20 0
Brownstone Brooklyn apartment prices $ 22 5,0 00 $ 1,10 0 averaged $1,158,251 in the first quarter, a $ 20 0,0 00 $ 1,00 0 $ 17 5,0 00 6% improvement from a year ago. $ 15 0,0 00 $900
$ 12 5,0 00 The median price rose to $972,500. 8% $800 $ 10 0,0 00
$75,000 $700 1st Q 19 1st Q 20 1st Q 19 1st Q 20
Halstead 6 Brownstone Brooklyn 1-3 Family Houses First Quarter 2020
AVERAGEAverage & MEDIANMedian SALESSales PRICEPrice
$2,226,631 $2,200,000 $2,832,751 $2,350,000 $2,176,331 $1,979,000 $2,410,429 $2,300,000 $2,586,214 $2,200,000
$3,000,000
$2,750,000
$2,500,000 halstead.com WEB# 20018315 $2,250,000
$2,000,000
$1,750,000
$1,500,000 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Average Sales Price Median Sales Price
halstead.com WEB# 20005752
$889 $964 $868 $888 $935
$ 1,00 0
$950
$900 Townhouse prices averaged $935 per square foot, 5% more than a year ago. $850
$800
$750 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Halstead 7 North Brooklyn Cooperatives & Condominiums First Quarter 2020
Cooperatives & Condominiums
Average & Median Sales Price
$1,226,897 $1,069,163 $1,286,696 $1,145,531 $1,248,576 $1,114,984 $1,158,263 $994,494 $1,155,743 $955,000
$1,300,000
$1,200,000
$1,100,000 halstead.com WEB# 20101231
$1,000,000
$ 90 0,0 00
$ 80 0,0 00 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Average Sales Price Median Sales Price
Condominium
Average Price Per Square Foot halstead.com WEB# 20042572
$1,197 $1,151
$ 1,20 0
$ 1,15 0
Both the average and median price $ 1,10 0 fell compared to a year ago. $ 1,05 0
$ 1,00 0
$950 1st Q 19 1st Q 20
Halstead 8 North Brooklyn 1-3 Family Houses First Quarter 2020
AVERAGEAverage & MEDIANMedian SALESSales PRICEPrice
$2,115,281 $2,000,000 $2,222,719 $2,009,125 $1,932,348 $1,800,000 $2,720,045 $1,905,000 $2,153,713 $1,875,000
$3,000,000
$2,750,000
$2,500,000 halstead.com WEB# 20042881 $2,250,000
$2,000,000
$1,750,000
$1,500,000 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Average Sales Price Median Sales Price
Average Price Per Square Foot
$843 $861 $870 $904 $846
$ 1,00 0
$900
The average townhouse price edged $800
higher over the past year. 2% $700
$600
$500 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Halstead 9 Central Brooklyn Cooperatives & Condominiums First Quarter 2020
Cooperatives & Condominiums
Average & Median Sales Price
$687,054 $656,771 $726,544 $691,595 $659,369 $591,793 $674,805 $610,950 $687,913 $627,000
$ 80 0,0 00
$ 70 0,0 00
$ 60 0,0 00 halstead.com WEB# 19711452 $ 50 0,0 00
$ 40 0,0 00
$ 30 0,0 00
$ 20 0,0 00 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Average Sales Price Median Sales Price
CondominiumCONDOMINIUM Average Price Per Square Foot halstead.com WEB# 19659584
$789 $846
$850
$800
$750 Prices averaged $687,913, virtually $700 unchanged from 2019’s first quarter. $650
$600
$550
$500 1st Q 19 1st Q 20
Halstead 10 Central Brooklyn 1-3 Family Houses First Quarter 2020
Average & Median Sales Price
$922,078 $811,250 $960,201 $847,000 $911,172 $806,500 $1,002,052 $857,000 $1,007,805 $880,000
$1,100,000
$1,000,000
$ 90 0,0 00
$ 80 0,0 00
$ 70 0,0 00
$ 60 0,0 00
$ 50 0,0 00
$ 40 0,0 00 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20 halstead.com WEB# 19721982 Average Sales Price Median Sales Price
Average Price Per Square Foot
$390 $419 $396 $417 $430
$450
$400 halstead.com WEB# 19970868 $350
$300 The average townhouse price of $1,007,805 represented a 9% gain over the past year. $250 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Halstead 11 South Brooklyn Cooperatives & Condominiums First Quarter 2020
COOPERATIVESCooperatives && CondominiumsCONDOMINIUMS Average & & Median Median Sales Sales Price Price
$433,224 $379,000 $473,510 $435,000 $473,379 $440,000 $464,031 $405,000 $444,831 $396,000
$ 50 0,0 00
$ 45 0,0 00
$ 40 0,0 00 halstead.com WEB# 19879277 $ 35 0,0 00
$ 30 0,0 00
$ 25 0,0 00
$ 20 0,0 00 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
CooperativeCOOPERATIVE CondominiumCONDOMINIUM AverageAverage Price PerPer Room Room Average Price Per Square Foot halstead.com WEB# 20053896
$96,603 $95,602 $619 $611
$ 10 0,0 00 $620
$600 $90,000
$580 South Brooklyn apartments prices averaged $80,000
$560 3% more than a year ago. $70,000 $540
$60,000 $520
$50,000 $500 1st Q 19 1st Q 20 1st Q 19 1st Q 20
Halstead 12 South Brooklyn 1-3 Family Houses First Quarter 2020
Average & Median Sales Price
$974,563 $845,000 $978,365 $880,000 $1,010,252 $878,000 $975,805 $864,000 $1,040,665 $925,000
$1,100,000
$1,000,000
$ 90 0,0 00 halstead.com WEB# 20070812 $ 80 0,0 00
$ 70 0,0 00
$ 60 0,0 00
$ 50 0,0 00 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Average Sales Price Median Sales Price
Average Price Per Square Foot
$492 $494 $502 $495 $512
Townhouse prices averaged $512 per square foot, $520
4% higher than the first quarter of 2019. $500
$480
$460
$440
$420
$400 1st Q 19 2nd Q 19 3rd Q 19 4th Q 19 1st Q 20
Halstead 13 OFFICES
MANHATTAN BROOKLYN HUDSON VALLEY NEW JERSEY Prepared by Gregory Heym, PARK AVENUE BROOKLYN HEIGHTS HUDSON HOBOKEN Chief Economist, 499 Park Avenue 122 Montague Street 526 Warren Street 200 Washington Street Halstead Brooklyn, LLC New York, NY 10022 Brooklyn, NY 11201 Hudson, NY 12534 Hoboken, NJ 07030 201.478.6700 ©2020 by Halstead Brooklyn, LLC. 212.734.0010 718.613.2000 518.828.0181 All Rights Reserved. This information may not be copied, used or distributed EAST SIDE PARK SLOPE MONTCLAIR without Halstead’s consent. While 770 Lexington Avenue 160 7th Avenue CONNECTICUT 635 Valley Road, information is believed true, no guaranty New York, NY 10065 Brooklyn, NY 11215 DARIEN Montclair, NJ 07030 is made of accuracy. 212.317.7800 718.878.1960 671 Boston Post Road 973.744.6033 Darien, CT 06820 WEST SIDE COBBLE HILL 203.655.1418 HAMPTONS 408 Columbus Avenue 162 Court Street EAST HAMPTON New York, NY 10024 Brooklyn, NY 11201 NEW CANAAN - ELM STREET 2 Newtown Lane 212.769.3000 718.613.2020 183 Elm Street East Hampton, NY 11937 New Canaan, CT 06840 631.324.6100 VILLAGE BEDFORD STUYVESANT 203.966.7800 831 Broadway 1191 Bedford Avenue, New York, NY 10003 Brooklyn, NY 11216 NEW CANAAN - SOUTH AVENUE CORPORATE 212.381.6500 718.878.1750 6 South Avenue COMMERCIAL SALES New Canaan, CT 06840 770 Lexington Avenue SOHO SOUTH SLOPE 203,966.7772 New York, NY 10065 451 West Broadway 1214 8th Avenue 212.381.3208 New York, NY 10012 Brooklyn, NY 11215 ROWAYTON 212.381.4200 718.878.1888 140 Rowayton Avenue DEVELOPMENT MARKETING Rowayton, CT 06853 445 Park Avenue HARLEM FORT GREENE 203.655.1418 New York, NY 10022 2169 Frederick Douglass Boulevard 725 Fulton Street 212.521.5703 New York, NY 10026 Brooklyn, NY 1127 GREENWICH 212.381.2570 718.613.2800 125 Mason Street GLOBAL SERVICES Greenwich, CT 06830 770 Lexington Avenue WASHINGTON HEIGHTS BAY RIDGE 203.869.8100 New York, NY 10065 819 West 187th Street 8324 4th Avenue 212. 381.6521 New York, NY 10033 Brooklyn, NY 11209 STAMFORD 212.381.2452 718.878.1880 1099 High Ridge Road MANAGEMENT COMPANY Stamford, CT 06905 770 Lexington Avenue, 7th floor 203.329.8801 New York, NY, 10065 BRONX QUEENS RIVERDALE JOHNSON 212.508.7272 LONG ISLAND CITY WESTPORT 3531 Johnson Avenue 47-12 Vernon Boulevard 379 Post Road East Riverdale, NY 10463 Queens, NY 1110 Westport, CT 06880 718.878.1700 718.878.1800 203.221.0666
FOREST HILLS WILTON 108-23 Ascan Avenue 21 River Road Forest Hills, NY 11375 Wilton, CT 06897 718-520-0303 203.762.8118
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