First Quarter 2021 Residential Market Report Brooklyn BHSID 19098184 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 20650302 BHS 1 Message from Bess Freedman CEO of Brown Harris Stevens The Brooklyn residential market remained hot in the first quarter of 2021, with prices for both apartments and townhouses higher than a year ago. Apartment prices averaged $939,368, which was 13% more than 2020’s first quarter. The average 1-3 family house price of $1,289,768 represented a 7% improvement over the past year. Apartment sales continued to surge in 2021’s first quarter, with the number of closings up 20% from a year ago. That’s impressive considering COVID-19 had very little impact on closings in the first quarter of 2020, while it is still impacting our economy today. Contracts signed in the first quarter to buy a Brooklyn apartment hit their highest level in almost four years, a sign that this momentum is only getting stronger. BHSID 20625191 BHS 2 Q1 2021 Cooperatives & Condominiums Both the average and median prices posted strong gains compared to 2020’s first quarter. Pricing gains were seen in both resale and new development apartments All Brooklyn BHSID 20615512 over the past year. BHS 3 Q1 2021 All Brooklyn Cooperatives & Condominiums* BHSID 20354553 Cooperatives & Condominiums Average & Median Sales Price $1 ,200 ,0 00 $1,000,000 $939,368 $878,001 $875,372 $832,732 $836,869 $790,000 $800,000 $760,000 $700,000 $692,705 $671,250 $600,000 $400,000 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 Average Price Median Price Cooperative Condominium Average Price Per Room Average Price Per Square Foot $250,000 $1,2 50 $1,012 $200,000 $1,000 $946 $179,877 $148,716 $150,000 $750 $100,000 $500 $50,000 $250 1st Q 20 1st Q 21 1st Q 20 1st Q 21 * Includes new development and resale apartments. 1Q21 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 Q1 2021 1-3 Family Houses Prices for 1-3 family houses averaged $1,289,768 in the first quarter, 7% more than one year ago. The median price posted a slightly larger increase, rising All Brooklyn BHSID 20161056 9% to $1,052,500. BHS 5 Q1 2021 All Brooklyn 1-3 Family Houses BHSID 20600282 Average & Median Sales Price $2,000,000 $1,500,000 $1,289,768 $1,217,040 $1,200,858 $1,187,989 $1,138,272 $1,052,500 $970,000 $965,000 $966,169 $1,000,000 $940,000 $500,000 $0 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 Average Price Median Price Average Price Per Square Foot $700 $600 $584 $568 $556 $539 $529 $500 $400 $300 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 BHS 6 Q1 2021 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 Q1 2021 Cooperatives & Condominiums A strong co-op market helped the average apartment price rise 9% over the past year Brooklyn Brownstone BHSID 20754355 to $1,244,930. BHS 8 Q1 2021 Brownstone Brooklyn Cooperatives & Condominiums BHSID 20710797 Cooperatives & Condominiums Average & Median Sales Price $1,600,000 $1,400,000 $1,244,930 $1,174,613 $1,139,506 $1,144,366 $1,200,000 $1,120,302 $995,000 $999,000 $934,220 $1,000,000 $924,500 $850,000 $800,000 $600,000 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 Average Price Median Price Cooperative Condominium Average Price Per Room Average Price Per Square Foot $1,5 00 $300,000 $1,2 50 $1,244 $242,178 $250,000 $1,159 $214,500 $200,000 $1,000 $150,000 $750 $100,000 $500 1st Q 20 1st Q 21 1st Q 20 1st Q 21 BHS 9 Q1 2021 1-3 Family Houses While the average price dipped 2% from a year ago, the median price rose Brooklyn Brownstone BHSID 20681340 4% to $2,315,000. BHS 10 Q1 2021 Brownstone Brooklyn 1-3 Family Houses BHSID 20700831 Average & Median Sales Price $3,500,000 $3,000,000 $2,585,279 $2,572,288 $2,533,934 $2,500,000 $2,475,945 $2,315,000 $2,225,000 $2,177,466 $2,125,000 $2,053,500 $2,000,000 $2,000,000 $1,500,000 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 Average Price Median Price Average Price Per Square Foot $1,2 00 $1,000 $939 $931 $916 $906 $887 $800 $600 $400 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 BHS 11 Q1 2021 Cooperatives & Condominiums North Brooklyn North The average apartment price of $1,105,467 was 4% less BHSID 20723896 than 2020’s first quarter. BHS 12 Q1 2021 North Brooklyn Cooperatives & Condominiums BHSID 20386281 Cooperatives & Condominiums Average & Median Sales Price $1,500,000 $1,250,000 $1,148,200 $1,150,645 $1,126,811 $1,105,467 $1,078,840 $990,000 $990,000 $984,622 $985,000 $1,000,000 $948,500 $750,000 $500,000 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 Average Price Median Price Condominium Average Price Per Square Foot $1,5 00 $1,2 50 $1,104 $1,080 $1,000 $750 $500 1st Q 20 1st Q 21 BHS 13 Q1 2021 1-3 Family Houses North Brooklyn North The median price fell 1% over the past year to BHSID 20739811 $1,850,000. BHS 14 Q1 2021 North Brooklyn 1-3 Family Houses BHSID 20739811 Average & Median Sales Price $3,000,000 $2,500,000 $2,116,979 $1,965,000 $1,959,015 $1,924,125 $2,000,000 $1,867,500 $1,850,000 $1,800,000 $1,760,000 $1,750,984 $1,625,000 $1,500,000 $1,000,000 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 Average Price Median Price Average Price Per Square Foot $1,000 $900 $844 $831 $806 $800 $703 $700 $659 $600 $500 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 BHS 15 Q1 2021 Cooperatives & Condominiums Apartment prices averaged Central Brooklyn Central $756,749 in the first quarter, BHSID 19771180 4% more than a year ago. BHS 16 Q1 2021 Central Brooklyn Cooperatives & Condominiums BHSID 20741218 Cooperatives & Condominiums Average & Median Sales Price $1,000,000 $801,022 $782,500 $756,749 $752,406 $800,000 $745,000 $726,236 $705,300 $693,446 $683,500 $635,000 $600,000 $400,000 $200,000 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 Average Price Median Price Condominium Average Price Per Square Foot $900 $849 $800 $789 $700 $600 $500 1st Q 20 1st Q 21 BHS 17 Q1 2021 1-3 Family Houses The average price per square foot for 1-3 family houses was Central Brooklyn Central 10% higher than the first BHSID 20712506 quarter of 2020. BHS 18 Q1 2021 Central Brooklyn 1-3 Family Houses BHSID 20350906 Average & Median Sales Price $1,400,000 $1,200,000 $1,095,823 $1,052,553 $1,039,765 $1,003,537 $996,500 $1,000,000 $955,738 $915,000 $871,500 $870,000 $845,000 $800,000 $600,000 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 Average Price Median Price Average Price Per Square Foot $550 $471 $460 $459 $450 $430 $424 $350 $250 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 BHS 19 Q1 2021 Cooperatives & Condominiums Co-ops led pricing gains South Brooklyn over the past year, with their average price per room up BHSID 20760493 10%. BHS 20 Q1 2021 South Brooklyn Cooperatives & Condominiums BHSID 20760493 Cooperatives & Condominiums Average & Median Sales Price $600,000 $500,600 $500,000 $482,902 $464,872 $462,296 $454,754 $448,025 $440,000 $428,000 $407,500 $400,095 $400,000 $300,000 $200,000 1st Q 20 2nd Q 20 3rd Q 20 4th Q 20 1st Q 21 Average Price Median Price Cooperative Condominium Average Price Per Room Average Price Per Square Foot $130,000 $700 $613 $601 $110,000 $104,448 $600 $95,307 $90,000 $500 $70,000 $400 $50,000 $300 1st Q 20 1st Q 21 1st Q 20 1st Q 21 BHS 21 Q1 2021 1-3 Family Houses Both the median and average South Brooklyn sales prices were 4% higher than 2020’s comparable BHSID 20504605 period.