Brooklyn Monthly Market Report | January 2015
Brooklyn started the year out strong with year-over-year increases in all three price metrics. Average and median sales prices increased by double digits, 21% and 19%, respectively, while the average price per square foot increased 4% year-over-year.
Average price per square foot of all bedroom types increased year-over-year, with two and three plus bedrooms increasing by 19% and 15%, respectively.
The increase in two bedroom price per square foot is attributed to several sales at The Boerum, while studio data was skewed again due to limited sales that took place only in new developments.
Brooklyn had a 32% increase in contracts signed versus January 2014. In January, 68% of buyers paid at or above asking price.
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