Halstead Mid-Year Townhouse Report
Halstead released its mid-year market report on Brooklyn townhouses on Friday. The results, which measure sales in the first half of this year against sales in the first half of ’05, belie any kind of a market slowdown. Of course, we all know better. Makes for some fun reading though. The biggest price increase was…
Halstead released its mid-year market report on Brooklyn townhouses on Friday. The results, which measure sales in the first half of this year against sales in the first half of ’05, belie any kind of a market slowdown. Of course, we all know better. Makes for some fun reading though. The biggest price increase was seen on the North Side of Williamsburg, where townhouses commanded 59% more this year than last. Prospect Park South turned in a 52% increase while Fort Greene jumped 42%. Meanwhile, the average price for a townhouse in the broad swath covered by Boerum Hill, Brooklyn Heights, Carroll Gardens, Cobble Hill and Park Slope rose 11 percent. Bensonhurst was the only nabe with any sizable volume that didn’t make a profit for its homeowners, with average prices flat over 130 transactions. The entire report is available on the link below.
First Half Brooklyn Townhouse Report [Halstead]
I am amazed at the amount of properties sold in Bed stuy. I think those numbers are more telling than the price increases. I know Bed Stuy is a big neighborhood but over 500 properties changing hands in six months is staggering.
If you look at the fourth page, the average price of $1.5M in Fort Greene would suggest that it is well ahead of Bed-Stuy.
Their groupings really aren’t useful at all–way too big and somewhat disparate. To lump Fort Greene in with Bed Stuy just doesn’t make sense–it’s virtually impossible to find a townhouse for under $1mil in Fort Greene/Clinton Hill, but this report would suggest otherwise to the uninitiated.
Go Brooklyn!