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Thursday, December 26, 2024

Brooklyn home prices rise in the third quarter of 2017

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The median sale price of a home sold in the third quarter of 2017 in Brooklyn rose by $60,000 while total sales decreased by 6.5%, according to BlockShopper.com.

From July through September of 2017, there were 2,236 homes sold, with a median sale price of $680,000 - a 9.7% increase over the $620,000 median sale price for the same period of the previous year. There were 2,391 homes sold in Brooklyn in the third quarter of 2016.

The following table compares Brooklyn to other Kings County cities with similar median sales prices in the third quarter of 2017:

CityJuly - Sept. 2017 Home SalesJuly - Sept. 2016 Home Sales% change (Total Home Sales)July - Sept. 2017 Median Sales PriceJuly - Sept. 2016 Median Sales Price% change (Median Sales Price)
Fort Greene35-40%$950,000$430,000120.9%
Clinton Hill45-20%$930,000$2,750,000-66.2%
DUMBO/Vinegar Hill/Downtown Brooklyn/Boerum Hill5425%$900,000$665,37535.3%
Prospect Heights147100%$873,000$547,00059.6%
Park Slope/Gowanus534810.4%$820,000$950,000-13.7%
Brooklyn2,2362,391-6.5%$680,000$620,0009.7%
East New York440%$654,000$1,100,000-40.5%
Sunset Park West39-66.7%$520,000$575,000-9.6%
Sunset Park East56-16.7%$435,000$420,0003.6%
Erasmus40-$432,500$0-
Williamsburg-North Side/South Side115120%$350,000$360,000-2.8%

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