This month, Brooklyn's luxury real estate market has seen a significant increase in activity. With $218 million in contracts signed in October, nearly doubling last year’s volume of $117 million. Townhouses specifically have drawn luxury buyers, accounting for the top contracts. This uptick signifies a strong recovery in the luxury segment, marking a shift in buyer preferences.
The trend continues with 24 contracts signed last week, where townhouses proved to be immensely popular, representing 15 of those contracts. The activity reflects a growing trend in upscale home buying within Brooklyn, where the median asking price rose to approximately $2.8 million. This contrasts sharply with only 11 contracts and $31 million signed during the same week last year, illustrating a dramatic market shift.
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