Home prices in Brooklyn slightly increased, with median prices reaching $995,000 and an average sale price of $1,323,118. Inventory levels and sales remained stable, both showing a 0.5 percent increase. One- to three-family houses saw the most significant price growth, while condominiums experienced a decline in median sales price. Prices and inventory levels suggest a tight market, leading to ongoing price pressure. Notably, north Brooklyn is experiencing notable increases in price per square foot for one- to three-family homes.
Median home prices in Brooklyn reached $995,000, reflecting a 0.5 percent increase. The average sale price rose 5.1 percent to $1,323,118. Inventory and sales remained stable.
One- to three-family houses experienced the largest price increase with a median of $1.2 million, showing a 9.1 percent year-over-year hike in prices.
Condominium prices decreased with the median falling 3.7 percent to $1.045 million, while the average price per square foot saw a 4.2 percent drop.
Northwest Brooklyn saw a significant 9.1 percent increase in price per square foot for one- to three-family houses, indicating a trend towards higher values in the area.
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