A recent PropertyShark report highlights that Red Hook and Carroll Gardens are now among the ten most expensive neighborhoods in New York City, with median home prices close to $2 million each. While Manhattan still dominates the luxury real estate scene, Brooklyn's luxury market shows significant growth, with Red Hook experiencing an 11% increase in price and Carroll Gardens displaying a remarkable 38% surge. Overall, the city's real estate market has rebounded in 2024 with home prices and sales stabilizing.
Brooklyn's luxury real estate market is emerging, with Carroll Gardens and Red Hook identifying as the borough's leading neighborhoods with median home prices nearing $2 million.
In 2024, Brooklyn's home prices rose 5% year-over-year, reflecting a growing demand in luxury markets compared to a mixed performance in Manhattan.
Carroll Gardens and Red Hook are now notable for their quick appreciation, with Carroll Gardens experiencing a significant 38% increase in median sale price over the year.
Despite substantial growth in Brooklyn's luxury market, overall Manhattan remains the most expensive with nine of the ten highest-priced neighborhoods.
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