Brooklyn Home Sale Prices Reach an All-Time High

Brooklyn Jewish Hospital apartment complex real estate

Today in not shocking news: New data released by Douglas Elliman Real Estate reveals that rent and home prices in Brooklyn have reached an all-time high. What with former governor Eliot Spitzer colonizing the Williamsburg Waterfront and major retail chains cropping up in formerly industrial neighborhoods, the news should come as no surprise

via Douglas Elliman
via Douglas Elliman

Brooklyn homes now go for an average of $788,529, a $5,233 increase from last year. Brooklyn’s median sales price came in at $605,000. Rentals in north-west Brooklyn (running from Greenpoint to Williamsburg and Park Slope) reached a record price of $2,964 a month.

Manhattan, of course, still wins the unaffordability prize–rents have been steadily rising there for 16 years, and now the average price for a Manhattan home is a record $1.87 million. Queens, too, has set new records in its home sale prices–average and median sales price of condos there are now $575,339 and $468,000–leading some residents in Bronx neighborhoods like Mott Haven to understandably worry that “Bushwick is coming.”

[via Curbed]


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