Brooklyn Real Estate Market Report May 2010 - July 2010

The Median Sales Price of Brooklyn Homes for the three month period of May - July 2010 was $525,000. This represents an increase of 1.4% over the same period in 2009. The total sales volume was 1,612 in 2010 which represents a 33% increase over the same period in 2009, and the average price per square foot was $334 in 2010 an increase of 13.2% over 2009.  Based on This data it appears that the Brooklyn Real Estate Market is beginning to see signs of a turn around. If you were waiting for the bottom of the market then you may want to consider purchasing soon. If this trend continues many buyers may miss out on an opportunity to take advantage of historically low interest rates and lower home values.