Market Surges, Says Corcoran 4th Quarter Sales Report

By every measure, sales of residential properties in Brooklyn are up, according to a fourth quarter report from Corcoran. Sales of all types of properties increased in volume, average price and on a price per square foot basis. Of particular interest: The number of sales of single-family townhouses tripled in the fourth quarter vs. the same period a year earlier, and the average sale price was $1.9 million, the highest in two years. Meanwhile, the average sale price of apartments clocked in at more than $600,000, an increase of 18 percent vs. the same quarter in 2011. The bottom line: Overall, throughout the Brooklyn market and for all types of housing, price per square foot increased 11 percent vs. the same period last year. Well, this certainly accords with the tales of crowded open houses and bidding wars we have been hearing.