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Halstead has just released its market report for Brooklyn residential sales in the second half of last year and the numbers for Brownstone Brooklyn are quite impressive. Prices for condos and co-ops rose in all five of the areas that the brokerage firm groups the Brownstone neighborhoods into. Here are the summary reports:

Brooklyn Heights-Carroll Gardens-Cobble Hill-Dumbo-Red Hook
Sales of condos priced over $1 million almost doubled in this market over the past year, pushing the overall average apartment price 18% higher to $830,522. This also helped bring the average condo price per square foot 10% higher over the past year, to $753. Co-op prices averaged $172,523 per room, 5% more than a year ago.

Boerum Hill-Clinton Hill-Fort Greene
A pickup in high-end sales in the Boerum Hill-Clinton Hill-Fort Greene market brought the average price 7% higher from the second half of 2009, to $547,447. The median price, which measures the middle of the market and is not as impacted by high-end activity, fell 4% during this time to $460,000.

Park Slope-Prospect Heights
In Park Slope and Prospect Heights, apartment prices averaged $682,095 in the second half of 2010, 12% more than a year ago. The average price per room for co-ops in this area of $153,056 was 8% higher than during 2009’s second half. Condo prices averaged $665 per square foot, up from $625 a year ago.

Bay Ridge-Sunset Park
Apartments in Bay Ridge and Sunset Park sold for an average price of $311,087, 5% more than the second half of 2009. The median price posted a larger increase, rising 10% from $269,000 a year ago to $295,000.

Bedford Stuyvesant-Crown Heights
At $421,591, the average apartment price in Bedford Stuyvesant and Crown Heights was 3% higher than the second half of 2009. The area’s median price of $400,000 was up 2% from a year ago, although down from the first half of 2010.

Alas, Williamsburg and Greenpoint were the only nabes Halstead covers where prices did not show a big improvement: The average apartment price fell slightly from 2009, to $579,316. Condo prices in the area averaged $640 per square foot though, a rise of 3% over a year ago.


What's Your Take? Leave a Comment

  1. pure regurgitation. value added seems completely nil.

    I like their townhouse reports better than scavenging through the rolling sales from the DOF. Wishing they would do more with the numbers and analysis though on condition (gut or reno’d etc) and zone maps with psf like corcoran does in their report. hint hint….

    however i’m not hoping for much as their analysis in general seems like an elevator report with useless charts.