REBNY: Brooklyn Real Estate Prices Up 35%
February 7, 2006, NY1 — A new report suggests prices in many neighborhoods in Brooklyn are skyrocketing. The Real Estate Board of New York released a report Tuesday on 2005 real estate prices in the borough showing the average price of an apartment in Brooklyn is up 35 percent from 2004. According to the report,…
February 7, 2006, NY1 — A new report suggests prices in many neighborhoods in Brooklyn are skyrocketing. The Real Estate Board of New York released a report Tuesday on 2005 real estate prices in the borough showing the average price of an apartment in Brooklyn is up 35 percent from 2004. According to the report, DUMBO is the priciest neighborhood to buy an apartment, with the average place selling at $1.2 million. Brooklyn Heights also continues to be popular. A huge demand for one- and two-family homes makes it the most expensive neighborhood to buy a one or two family home in the borough. The average price could run upwards of $2.7 million. But the neighborhood which saw the biggest jump in price was Fort Greene, where apartment prices increased a whopping 82 percent in 2005. [Ed.- See, we weren’t off base in this post.]
B’kln RE Prices Skyrocketed in ’05 [NY1]
B’kln Price Per Foot $469 in ’05 [Real Deal]
Boro Home Go Thru Roof [NY Daily News]
The REBNY report is probably better–it got data from 12 firms
Tthey say 82% increase. corcoran report says 15% (co-ops) and 42% (condos). This is clearly more art than science
where is the actual report (as opposed to the news about the report…)?
“The average sales price for a Brooklyn co-op or condo increased from $354,000 in 2004 to $478,000 last year”