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We are not just Manhattan- Take a look at the highlights for Brooklyn's real estate market for the end of the 3rd quarter 2008:
3nd Quarter 2008 brooklyn Market Overview
brooklyn market
Average sales price - $575,287
• Down 2.2% from prior quarter
• Down 4.7% from prior year
Median sales price - $510,000
• Down 2.9% from prior quarter
• Down 5.6% from prior year
Number of sales - 2,298
• Up 13.1% over prior quarter
• Down 38.2% from prior year
co-op market
Average sales price - $383,831
• Up 15.5% over prior quarter
• Up 2.3% over prior year
Median Sales Price - $280,000
• Up 9.8% over prior quarter
• Down 1.7% from prior year
Number of Sales - 596
• Up 89.8% over prior quarter
• Down 24.6% from prior year
condo market
Average sales price - $574,559
• Down 4.4% from prior quarter
• Down 4.7% from prior year
Number of sales - 660
• Down 4.3% from prior quarter
• Down 32.6% from prior year
Average price per SF – New Developments $602
• Down 7.2% from prior quarter
• Up 5.1% over prior year
Average price per SF– Re-Sale $475
• Down 4.2% from prior quarter
• Up 7.5% over prior year
1-3 family market
Average sales price - $685,287
• Up 4.7 over prior quarter
• Down 1.6% from prior year
Median sales price - $600,000
• Up 1% over prior quarter
• Down 3.2% from prior year
Number of sales - 1,042
• Up 1.5% over prior quarter
• Down 46.5% from prior year
luxury market
(co-ops and condos)
Average sales price - $1,414,429
• Up 1.2% over prior quarter
• Down 3% from prior year
Average price per square foot - $580
• Up 4.3% over prior quarter
• Up 3.2% over prior year
Number of sales - 230
• Up 13.9% over prior quarter
• Down 38% from prior year
north brooklyn market
Average sales price - $688,529
• Up 3.7% over prior quarter
• Up 7% over prior year
Average price per square foot - $512
• Up 15.1% over prior quarter
• Up 13.3% over prior year
Number of sales - 191
• Up 56.6% over prior quarter
• Down 20.7% from prior year
north brooklyn market
(Condo submarket)
Average sales price - $678,853
• Up 6.2% over prior quarter
• Up 11.1% over prior year
Average price per square foot - $620
• Down 7.2% from prior quarter
• Up 19% over prior year
Median sales price - $617,049
• Up 12.2% over prior quarter
• Up 13.3% over prior year
south brooklyn market
Average sales price - $508,362
• Down 1.1% from prior quarter
• Down 2.5% from prior year
Median Sales Price
(All
property types) - $465,000
• Down 2.6% from prior quarter
• Down 5.2% from prior year
Number of sales - 1,238
• Up 14.7% over prior quarter
• Down 37.5% from prior year
Median Sales Price (Condo) - $426,887
• Down 3.1% from prior quarter
• Down 6.4% from prior year
Median Sales Price (Co-op) - $200,000
• Up 1.1% over prior quarter
• Down 2.4% from prior year
Median Sales Price (1-3 Family) - $620,000
• Up 6.3% over prior quarter
• Up 1.8% over prior year
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The Zweben Team is a team of licensed real estate salespersons affiliated with Compass. Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. New York State Fair Housing. New York Real Estate Standard Operating Procedures.
