"Brooklyn home prices hovered near record levels in the fourth quarter, with median and average sale prices ticking up modestly to reach the third highest on record. At the same time, the number of sales dipped slightly and inventory expanded, early signs that the market may be beginning to cool, albeit modestly. The average sale price for all home types climbed 3.8% year over year to $1,306,113, according to a market report from appraisal firm Miller Samuel for Douglas Elliman."
"Despite fewer sales, new condominiums posted the strongest price growth in the final quarter. Median prices jumped 17.3% year over year to $1,237,500, up from $1.055 million the year before. Co-op prices saw the second-largest increase, rising 10.4% annually to a median of $499,500. Condo median prices increased 9.1% to $1.090 million, though the price per square foot declined 5.8% to $1,128."
Brooklyn home prices stayed near record levels in the fourth quarter, with the average sale price rising 3.8% to $1,306,113 and the median reaching $990,000. Total sales dipped 0.4% to 2,271 transactions while inventory grew 10.5%, indicating modest cooling. Newly constructed condo sales fell sharply, while condo resales increased substantially. New condominiums led price growth with median prices up 17.3% to $1,237,500; co-op medians rose 10.4% to $499,500 and condo medians increased 9.1% to $1.090 million. Luxury medians climbed to $3.1 million and one- to three-family metrics showed mixed results, with lower price-per-square-foot.
Read at Brooklyn Paper
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