Townhouse prices in Brooklyn averaged $1,153,079 in the second quarter, a 6% improvement from a year ago, according to Halstead’s Second Quarter 2018 Brooklyn Market Report. New development prices averaged 11% less than a year ago while resale units saw a slight increase in the borough. Although up from last quarter, Brooklyn apartment prices averaged $869,587, a 4% drop from a year ago.

Halstead’s Second Quarter 2018 Brooklyn Market Report also noted the following:

• North Brooklyn apartment prices averaged $1,106,814, a 6% improvement over the past year. Condos led the way once again as their average price per square foot was 10% higher than the second quarter of 2017.
• At $1,256,816, the average apartment price for Brownstone Brooklyn was 3% lower than a year ago. Prices were lower for both co-ops and condos compared to 2017’s second quarter.
• Apartment prices in Central Brooklyn averaged 13% less than a year ago. The area saw the median price dip 9% below last year’s figure to $635,000.
• South Brooklyn median apartment prices were 7% higher than a year ago, and prices rose for both co-ops and condos. Over the past year the average townhouse price rose 7% to $974,823 in South Brooklyn.

About Halstead

As one of the top residential real estate brokerage firms in the New York metropolitan area, Halstead has more than 1,300 sales and rental agents located in premier retail storefront offices in Manhattan, Brooklyn, Queens, the Bronx, the Hamptons, Hudson Valley, New Jersey and Fairfield County, Connecticut. In addition, the Development Marketing Division of Halstead is the exclusive sales and marketing firm for many new developments in the tristate area and through the Property Management Division, Halstead manages more than 20,000 residential units within 200 buildings. To learn more, please visit www.halstead.com.