Brooklyn Home Sales Fall 44 Percent


    The Real Deal reported yesterday that the number of homes sold in Brooklyn plunged abruptly in February, by 44 percent, compared to the same month the year earlier. The total dollar volume also fell dramatically during the period, to $242,700,000, a decline of 33 percent. The numbers are based on data from PropertyShark.

    The reason was probably a lack of inventory, not less demand, despite the cold weather, said the story. One agent said she was having her best quarter ever. We’d like to see price per square foot in February vs. the year before to get a better picture, but unfortunately that information was not available.

    The numbers included co-ops, condos and one- and two-family townhouses. The most expensive home sale in the month was a new-construction mansion at 8381 Shore Road in Bay Ridge. The 5,240-square-foot property closed for $3,580,000.

    Home Sales in Brooklyn Plunge: PropertyShark [TRD]

    What's Happening