Market Snapshot: Greenpoint


PropertyShark has provided us with another batch of numbers showing real estate trends in a Brooklyn neighborhood, this time focusing on Greenpoint. What we’re seeing is a market that doesn’t read like most others following the 2008 bust, with substantial price increases in mid-to-late 2009. Sales volume, on the other hand, looks more typical, with big dips in 2009 and through the middle of last year, followed by more deals since then. The finer points:

Condos and co-ops: There have been 803 apartment sales since the beginning of 2005 in Greenpoint. The peak of the market in terms of number of sales was the second quarter of 2008, when there were 81 closings, while the second quarter of 2006 had the highest median sales price, $687,319. This year there were 26 sales in the third quarter and the median price was $596,356.

Houses: There have been 381 house sales in the neighborhood since the beginning of 2005, and the median price from then until now is $736,000. Prices were at their highest in late 2007, when the median was $900,000. The most sales, 28, were recorded in the third quarter of 2006. The median sales price last quarter was $702,500 and there were 14 closings.

Biggest sale ever: 30 Bayard Street #PHA, sold for $2,224,876 in June ’07.

Most expensive street: Milton Street, which has a median sales price of $981,000.

Click through for more graphs with price trends since ’05, as well as a map showing how Greenpoint prices compare to neighboring areas.



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