Brooklyn Sales Outpace Manhattan
A new report from the Real Estate Board of New York found sales in Brooklyn outpaced sales in Manhattan, which were flat, for the year ended in the second quarter, the Wall Street Journal reported. The number of sales of homes (including houses, condos and co-ops) outside Manhattan increased 13.4 percent in the second quarter of…

A new report from the Real Estate Board of New York found sales in Brooklyn outpaced sales in Manhattan, which were flat, for the year ended in the second quarter, the Wall Street Journal reported. The number of sales of homes (including houses, condos and co-ops) outside Manhattan increased 13.4 percent in the second quarter of 2013, vs. the year before. Looking at sales of one- to -three family houses, the growth was even stronger: 20.5 percent, or 4,486 sales total outside of Manhattan. In Borough Park, prices per square foot of one- to three-family homes rose impressively, by 62 percent. Prices per square foot rose 48 percent in Park Slope and 44 percent in Crown Heights. But prices are not rising uniformly across Brooklyn. Prices in Canarsie, Flatlands and Brownsville were down by as much as 28 percent per square foot.
City’s Housing Bounce Spreads Beyond Manhattan [WSJ]
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