Learn more
Contact Patrick Ben Hayoun, Real Estate Agent
(917) 214-6888
(Email protected)
New York real estate agency Corcoran has just released its report on the Brooklyn real estate market revealing the figures of the 4th quarter of 2018. These attest to important changes … It is summarized for you.
The prices
The price of real estate is declining in Brooklyn. For the fifth consecutive quarter, the median price falls to $ 658,000, a decrease of 3%. The average price is down 2% to $ 800,000, the most since 2016.
Paradoxically, this quarter also saw Brooklyn record the sale of the most expensive apartment in its history: The Standish in Brooklyn Heights, sold for more than $ 16 million.
The inventory
After two consecutive years of decline, Brooklyn's real estate inventory grew by 16% in the last quarter of 2018, with a total of 1,952 properties in the market. The reason: slower resales, and very many buildings newly built or under construction, especially in the south.
South Brooklyn continues to grow, with sales up 13% year-over-year. This zone accounts for 44% of real estate sales in Brooklyn in the last quarter of 2018.
The case L-Train
The alleged closure of line L connecting the Williamsburg and Greenpoint neighborhoods to Manhattan caused a drop in sales in both areas. They decreased by 50% for new properties, and the total inventory decreased by 16% in this zone.
See Corcoran's full report
For more information, contact Patrick Ben Hayoun, real estate agent
(917) 214-6888
PBenhayoun@ corcoran.com
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Note: "Partner Articles" are not articles in French Morning's editorial staff. They are provided by or written to the order of an advertiser who determines the content.
Learn more
Contact Patrick Ben Hayoun, Real Estate Agent
(917) 214-6888
(Email protected)
