Report: Prices up 24 Percent in Prime Areas
After a big jump in prices in one year, home prices in north and northwest Brooklyn continue to climb. Average sales prices of all types of housing were up 24.6 percent in the third quarter, vs. the same period last year, to $1,192,424, according to a report out today from real estate firm Ideal Properties…
After a big jump in prices in one year, home prices in north and northwest Brooklyn continue to climb. Average sales prices of all types of housing were up 24.6 percent in the third quarter, vs. the same period last year, to $1,192,424, according to a report out today from real estate firm Ideal Properties Group.
Both the average and median price per square foot, a more accurate measure, were up as well, to 24.4 percent, or $924 per square foot, and 28.2 percent, to $895 per square foot, respectively.
The report did not cover all of Brooklyn but only the north and northwest areas, where some of the borough’s most expensive real estate is found, including Red Hook, Windsor Terrace and Prospect Heights, but not Bed Stuy, Crown Heights or Prospect Lefferts Gardens. (See the report for a graphic.)
“To have this kind of expansion take place in a mere 365 days never ceases to astonish us,” said the report.
The average price of a one- to three-family town home in the area increased 10.4 percent to $2,081,428 in the year-over-year period, although it dipped 1.5 percent vs. the prior quarter. For all types of properties, time to close shrunk by an average of 10 days, or 4 percent vs. the same quarter last year. Twenty-three percent of homes sold below ask; 11 percent sold at ask, and 66 percent sold for more than the list price.
Residential Sales Q3 2014 Report [Ideal Properties]
Someday this war’s gonna end.
That’d be just fine with the boys on the boat. T
hey weren’t looking for anything more than a way home.
Trouble is, I’d been back there, and I knew that it just didn’t exist anymore.
The What
Someday this war is gonna end….
I know you shouldn’t look a gift horse in the mouth but this report could be a lot better if they did 2 simple things: define the south and east areas. Neighborhood breakdown on the south and east areas since they comprised 70% of sales and are growing (as admitted in their own report).
What little one can glean from the two faster moving markets is people want houses not coops/condos. Yoy prices are up on all 3 classes but quarterly comparisons are mixed on coops/condos in some cases cooling for q2 to q3.
What ever happened to BrownstonesHalfOff?
” but I have never read anyone who was so consistently and passionately wrong about anything. ” try watching pundits on FoxNews or couple of blowhards on CNBC.