Brooklyn Market Report | Fourth Quarter 2015

By
Real Estate Agent with The Corcoran Group
http://activerain.com/droplet/4MNk

I am delighted to share with you our Q4 Brooklyn Report.  Inside you will find a detailed analysis of residential real estate sales that closed in Brooklyn in Q4 2015 (October 1st through December 31st).

 

Key Findings of the Fourth Quarter Report:

 

  • Fifth consecutive quarter of price growth.  The median sale price in Brooklyn rose 9% versus the year before and now stands at $545,000.  Both the average and the median price per square foot exceeded $800 for the second consecutive quarter.

 

  • More sales again. The pace of closings increased by 6% year-over-year, making Q4 2015 the most active Fourth Quarter for sales in eight years.Inventory growth. Developers responded heavily to the demand for new homes in Brooklyn; new condominium listings increased by 20% in the borough, lifting the overall inventory incrementally by 3%.

 

Brooklyn Neighborhood Reports:

 

 

Brooklyn Heights, DUMBO, Downtown, Cobble Hill

 

Brooklyn Heights

 

 

Fort Greene, Clinton Hill, Prospect heights

 

Bed Stuvesant

 

South Brooklyn

 

 Download Full Brooklyn Q4 2015 Market Report

 

I will continue tracking the residential market closely throughout 2016, and would welcome the opportunity to answer any questions you may have about the market report or the market generally. 

 

I welcome the opportunity to be of assistance to you.

 

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Topic:
Real Estate Market Trends
Location:
New York Kings County Brooklyn
Groups:
Urban Core - Returning to our Downtowns
Posts to Localism
Local Expert
Market Reports
Real Estate Trends
Tags:
downtown
williamsburg
dumbo
brooklyn
park slope
cobble hill
fort greene
carol gardens

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Rainmaker
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Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Very good looking report, Mitchell. As someone who grew up in NYC when most people were trying to get out of Brooklyn and not into it, these numbers boggle my mind!

Jan 14, 2016 05:24 AM #1
Rainmaker
589,995
Mitchell J Hall
The Corcoran Group - Manhattan, NY
Lic Associate RE Broker - Manhattan & Brooklyn

As Carrie Bradshaw said back in the 90's on Sex in the City Brooklyn is the new Manhattan. Now it's on Fire. Just got a new listing in Williamsburg. I  had one open house Sunday, multiple offers, accepted offer above ask. It's the epicenter of the world for millennial's.

Jan 14, 2016 06:05 AM #2
Ambassador
1,672,265
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Mitchell J Hall  my very favorite show ..still watch the reruns --Great market report as always

 

Jan 14, 2016 12:22 PM #3
Rainmaker
771,481
Bob Baesmann
DFW Team Realty - Plano, TX
DFW Team Realty | 972-978-8800

Great Information. A valuable market report for buyers and sellers in your community!

Jan 19, 2016 01:32 AM #4
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Rainmaker
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Mitchell J Hall

Lic Associate RE Broker - Manhattan & Brooklyn
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