Brownstone Brooklyn Market Report: 2Q18
In this iteration of our neighborhood centric market report we have added tables that rank the 11 neighborhoods we currently track using an average price per square metric for both townhouses and condominiums (page 8). We have also identified the top five townhouse and condominium sales by gross sales price and by price per square foot (page 9). We will continue to add coverage of additional neighborhoods in the coming quarters.
In the Brownstone Brooklyn markets we cover, over $208MM worth of 1- to 4-family townhouses traded hands in 2Q18, versus $276MM during 2Q17, a decrease of $68MM, or 24.5%. The average sales price decreased a nominal 2.11% from last year. Demand for well- located, appropriately priced, homes remains stable. Notable transactions appear on page 9 of this report.
Approximately $298MM worth of condominiums sold in 2Q18, versus $565MM during 2Q17, a decrease of $267MM, or 47.3%. However, the average sales price increased 13.1% from last year. Sales volume dropped significantly, 53.4%, year over year but is stable in relation to the prior quarter, with a decrease indicated of 10.0%. Notable condominium transactions appear on page 9 of this report.