Both average and median sales prices in Brooklyn ticked down overall last quarter, according to the Prudential Douglas Elliman report that dropped this morning, but the big number was the decline in the number of sales from the previous year from 3,718 to 2,298. (Inventory has also trended down.) Average price per square foot actually rose slightly year-over-year for both new developments and resales but fell just over 5 percent from the 2nd to 3rd quarters. Co-ops were a bright spot, rising in both price and number of transactions. Williamsburg and Greenpoint also put up good numbers. One- and two-family houses in Brownstone Brooklyn did pretty well too, with average and median sales prices as well as price-per-square-foot measurements all trending up. For details, check out the full report.
Brooklyn Home Prices Drop as Banks Cut Jobs and Curb Lending [Bloomberg]