Halstead isnow Residential Market Report 2020 Fourth Quarter BHS ID 20266433 ID Brooklyn We’re growing!
Halstead has joined Brown Harris Stevens - which means BHS now has 2,500 agents and 55 offices in luxury markets across NYC, the Tristate area, the Hamptons, Palm Beach, and Miami.
Historically ranked among the nation’s top residential firms, in 2019 both firms combined closed 6,000 transactions totaling more than $9 billion.
Simply put, we have more resources than ever to support our trusted clients.
We are here to serve you, and Brown Harris Stevens has never been stronger. We look forward to working together.
BHSID 20388343
BHS 1 Message from Bess Freedman CEO of Brown Harris Stevens
The Brooklyn residential market’s recovery gained more steam in the fourth quarter, with both apartment and townhouses prices up compared to a year ago.
Perhaps more impressive was the slight increase in the number of apartment sales from 2019’s fourth quarter. Compare that to the 29% decline in Manhattan apartment sales posted over the past year, and Brooklyn is looking very good. Townhouse closings were 15% lower than a year ago, but that’s not bad considering how hard the market was hit by the coronavirus.
The biggest takeaway from this report is that Brooklyn has already made an incredible comeback from the unprecedented damage of COVID-19, and is getting stronger every day.
BHSID 20221010
BHS 2 Q4 2020 Cooperatives & Condominiums
Apartment prices averaged
$879,097 in the fourth quarter,
9% more than a year ago.
The number of sales ticked
up 1% compared to 2019’s All Brooklyn
BHSID 20325361 fourth quarter. BHS 3 Q4 2020 All Brooklyn Cooperatives & Condominiums*
BHSID 20371018
Cooperatives & Condominiums Average & Median Sales Price $1,000,000 $879,097 $900,000 $875,692 $841,406 $833,344 $806,362 $800,000 $760,000 $701,574 $692,705
$700,000 $673,000 $672,500
$600,000
$500,000 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
Average Price Median Price
Cooperative Condominium Average Price Per Room Average Price Per Square Foot
$250,000 $1,2 50 $980 $962
$200,000 $188,635 $1,000
$150,000 $145,159 $750
$100,000 $500
$50,000 $250 4th Q 19 4th Q 20 4th Q 19 4th Q 20
* Includes new development and resale apartments. 4Q20 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. BHS 4 Q4 2020 1-3 Family Houses
The average 1-3 family house
price rose 7% over the past
year to $1,237,917.
House prices averaged
$577 per square foot, an 11%
improvement from the fourth All Brooklyn
BHSID 20272051 quarter of 2019. BHS 5 Q4 2020 All Brooklyn 1-3 Family Houses
BHSID 20165962
Average & Median Sales Price
$1,750,000
$1,500,000 $1,237,917 $1,202,137 $1,250,000 $1,190,577 $1,156,421 $1,136,925 $975,000 $975,000 $970,000 $936,000
$1,000,000 $925,000
$750,000
$500,000 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
Average Price Median Price
Average Price Per Square Foot
$600 $577 $557 $550 $539 $531 $520
$500
$450
$400 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
BHS 6 Q4 2020 Brooklyn Market Areas
Brownstone Boerum Hill Brooklyn Heights Carroll Gardens Clinton Hill Npages 12-15 Cobble Hill Columbia Street Waterfront District Ditmas Park Downtown Brooklyn Dumbo Fort Greene Gowanus Greenwood Heights Park Slope Bpagespage 8-11 6 Prospect Heights Prospect Park South Prospect-Lefferts Gardens Red Hook South Slope Vinegar Hill Cpagespage 16-19 10 Windsor Terrace
Central Bedford-Stuyvesant Brownsville Bushwick Crown Heights
East New York Stuyvesant Heights
North East Williamsburg pagesSpage 20-23 12 Greenpoint Williamsburg North Side Williamsburg South Side
South Bath Beach Borough Park Dyker Heights Gerritsen Beach Marine Park Sheepshead Bay Bay Ridge Brighton Beach East Flatbush Gravesend Midwood Sunset Park Bensonhurst Canarsie Flatbush Kensington Mill Basin Bergen Beach Coney Island Flatlands Manhattan Beach Sea Gate
BHS 7 Q4 2020 Cooperatives & Condominiums
A sharp rise in co-op prices helped bring the average apartment price 6% higher Brooklyn Brownstone
BHSID 20354553 than a year ago. BHS 8 Q4 2020 Brownstone Brooklyn Cooperatives & Condominiums
BHSID 20516435
Cooperatives & Condominiums Average & Median Sales Price
$1,500,000
$1,250,000 $1,176,945 $1,139,303 $1,140,072 $1,121,957 $1,071,999 $998,000
$1,000,000 $935,000 $919,500 $909,145 $852,500
$750,000
$500,000 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
Average Price Median Price
Cooperative Condominium Average Price Per Room Average Price Per Square Foot
$1,5 00 $325 ,000 $1,209 $1,189
$268,560 $1,2 50 $275,000
$225,000 $221,438 $1,000
$175,000 $750
$125,000 $500 4th Q 19 4th Q 20 4th Q 19 4th Q 20
BHS 9 Q4 2020 1-3 Family Houses
Prices for 1-3 family houses averaged $2,634,86,
9% more than Brooklyn Brownstone
BHSID 20211582 2019’s fourth quarter. BHS 10 Q4 2020 Brownstone Brooklyn 1-3 Family Houses
BHSID 20526031
Average & Median Sales Price
$3,500,000
$3,000,000 $2,634,868 $2,585,279 $2,498,212
$2,500,000 $2,419,402 $2,300,000 $2,225,000 $2,184,373 $2,125,000 $2,089,250 $2,000,000 $2,000,000
$1,500,000 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
Average Price Median Price
Average Price Per Square Foot
$1,2 00
$1,000 $948 $921 $905 $889 $887
$800
$600
$400 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
BHS 11 Q4 2020 Cooperatives & Condominiums North Brooklyn North The average apartment price rose 5% over the past year
BHSID 20333386 in North Brooklyn. BHS 12 Q4 2020 North Brooklyn Cooperatives & Condominiums
BHSID 20537692
Cooperatives & Condominiums Average & Median Sales Price
$1,500,000
$1,250,000 $1,216,375 $1,155,194 $1,159,379 $1,126,811 $1,082,500 $1,078,840 $993,988 $990,000 $985,000
$1,000,000 $948,500
$750,000
$500,000 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
Average Price Median Price
Condominium Average Price Per Square Foot
$1,5 00
$1,2 50 $1,149 $1,126
$1,000
$750
$500 4th Q 19 4th Q 20
BHS 13 Q4 2020 1-3 Family Houses
While the average 1-3 family house price fell sharply compared to a year ago, the relatively small number North Brooklyn North of sales in this market can cause data to vary widely
BHSID 20191016 from quarter-to-quarter. BHS 14 Q4 2020 North Brooklyn 1-3 Family Houses
BHSID 20191016
Average & Median Sales Price
$3,500,000
$3,000,000 $2,661,155
$2,500,000 $2,116,979 $2,021,731 $1,965,000 $1,875,000 $1,867,500 $2,000,000 $1,850,000 $1,760,000 $1,750,984 $1,625,000 $1,500,000
$1,000,000 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
Average Price Median Price
Average Price Per Square Foot
$1,000
$900 $893 $844 $832
$800 $703 $701 $700
$600
$500 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
BHS 15 Q4 2020 Cooperatives & Condominiums
Both the average and median apartment prices posted double-digit Central Brooklyn Central increases
BHSID 20577991 from 2019’s fourth quarter. BHS 16 Q4 2020 Central Brooklyn Cooperatives & Condominiums
BHSID 20298007
Cooperatives & Condominiums Average & Median Sales Price
$1,000,000 $799,734 $763,274 $800,000 $756,907 $726,236 $705,300 $699,146 $688,000 $677,945 $635,000 $618,800 $600,000
$400,000
$200,000 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
Average Price Median Price
Condominium Average Price Per Square Foot $900 $836 $802 $800
$700
$600
$500 4th Q 19 4th Q 20
BHS 17 Q4 2020 1-3 Family Houses
Prices for 1-3 family houses averaged $1,053,171, Central Brooklyn Central a 6% improvement
BHSID 20499429 from a year ago. BHS 18 Q4 2020 Central Brooklyn 1-3 Family Houses
BHSID 20365117
Average & Median Sales Price
$1,400,000
$1,200,000 $1,053,171 $1,042,902 $1,003,537 $995,751
$1,000,000 $955,738 $912,500 $871,500 $871,170 $850,000 $845,000
$800,000
$600,000 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
Average Price Median Price
Average Price Per Square Foot
$550 $462 $460 $450 $429 $423 $415
$350
$250 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
BHS 19 Q4 2020 Cooperatives & Condominiums
The average apartment South Brooklyn price was virtually
unchanged
BHSID 20537716 from 2019’s fourth quarter. BHS 20 Q4 2020 South Brooklyn Cooperatives & Condominiums
BHSID 20363954
Cooperatives & Condominiums Average & Median Sales Price
$600,000 $499,084 $470,084 $500,000 $470,391 $457,568 $454,225 $440,000 $430,291 $405,300 $407,500 $399,000 $400,000
$300,000
$200,000
$100,000 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
Average Price Median Price
Cooperative Condominium Average Price Per Room Average Price Per Square Foot
$120,000 $700 $103,053 $623 $610
$100,000 $96,513 $600
$80,000 $500
$60,000 $400
$40,000 $300 4th Q 19 4th Q 20 4th Q 19 4th Q 20
BHS 21 Q4 2020 1-3 Family Houses South Brooklyn Both the average and median
1-3 family house price were
BHSID 20504605 6% higher than a year ago. BHS 22 Q4 2020 South Brooklyn 1-3 Family Houses
Halstead Exclusive 20485726
Average & Median Sales Price
$1,400,000
$1,200,000 $1,035,655 $1,031,851 $998,031 $1,000,971 $1,000,000 $974,906 $915,000 $910,000 $890,000 $883,750 $861,500
$800,000
$600,000 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
Average Price Median Price
Average Price Per Square Foot
$600
$550 $540 $531 $514 $503
$500 $494
$450
$400 4th Q 19 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20
BHS 23 Fourth Quarter 2020 Residential Market Report
Brooklyn Heights Park Slope 129 Montague Street 100 Seventh Avenue Brooklyn, NY 11201 Brooklyn, NY 11215 718.875.1289 718.230.5500
Halstead is now
Brooklyn Heights South Slope 122 Montague Street 1214 8th Avenue Brooklyn, NY 11201 Brooklyn, NY 11215 718.613.2000 718.878.1888
Park Slope Fort Greene 160 7th Avenue 725 Fulton Street Brooklyn, NY 11215 Brooklyn, NY 1127 718.878.1960 718.613.2800
Cobble Hill Bay Ridge 162 Court Street 8324 4th Avenue Brooklyn, NY 11201 Brooklyn, NY 11209 718.613.2020 718.878.1880
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