First Quarter 2019
Market Report
Brooklyn Residential
Data Highlights
Cover Property: BrownHarrisStevens.com WEB# 19493713
BrownHarrisStevens.com WEB# 19516242
BrownHarrisStevens.com WEB# 19161657
Brooklyn apartment prices
averaged $774,694 in the first
quarter, 6% less than a
year ago.
Prices rose slightly for
resale apartments but fell for new
development units.
The average price rose
5% for 1-3 family homes compared
to 2018’s first quarter.
First Quarter 2019
Brown Harris Stevens 3
* Includes new development and resale apartments.
1Q19 data is preliminary and subject to revision in future reports. Data from the prior four quarters
has been revised to include Sales recorded after our initial reports were released.
All Brooklyn Cooperatives & Condominiums
Condominium
Cooperatives & Condominiums
Cooperative
Average & Median Sales Price
Average Price Per Room Average Price Per Square Foot
Average Sales Price Median Sales Price
$1,000,000
$900,000
$800,000
$700,000
$600,000
$400,000
$500,000
$850,238 $699,000
3rd Q18
$877,806 $688,000
2nd Q18
$826,242 $672,045
1st Q18
$815,600 $675,000
4th Q18
$1,000
$950
$900
$850
$800
$700
$750
$700
$146,034 $146,113
$928
$915
1st Q18 1st Q19 1st Q18 1st Q19
$160,000
$150,000
$140,000
$130,000
$120,000
$100,000
$110,000
First Quarter 2019
The average apartment price fell
6%
over the past year.
At $636,406, the median price was 5%
lower than the first quarter of 2018.
BrownHarrisStevens.com WEB# 19331371
BrownHarrisStevens.com WEB# 19294805
$774,694 $636,406
1st Q19
Brown Harris Stevens 4
BrownHarrisStevens.com WEB# 16114078
All Brooklyn 1-3 Family Houses
Average Price Per Square Foot
Average & Median Sales Price
Average Sales Price
$1,130,851
$938,000
4th Q18
$1,095,710
$857,000
2nd Q18
$1,076,452
$860,650
1st Q18
$1,300,000
$1,200,000
$1,100,000
$1,000,000
$900,000
$700,000
$800,000
$532
3rd Q18
$530
4th Q18
$485
1st Q18
$491
2nd Q18
$550
$525
$500
$475
$450
$400
$425
First Quarter 2019
1-3 family homes sold for an average of
$1,131,419, 5% more than a year ago.
$1,148,750
$889,500
3rd Q18
Median Sales Price
$1,131,419
$880,000
1st Q19
$521
1st Q19
Brownstone
Boerum Hill
Brooklyn Heights
Carroll Gardens
Clinton Hill
Cobble Hill
Columbia Street Waterfront District
Ditmas Park
Downtown Brooklyn
Dumbo
Fort Greene
Gowanus
Greenwood Heights
Park Slope
Prospect Heights
Prospect Park South
Prospect-Leerts Gardens
Red Hook
South Slope
Vinegar Hill
Windsor Terrace
Central
Bedford-Stuyvesant
Brownsville
Bushwick
Crown Heights
East New York
Stuyvesant Heights
North
East Williamsburg
Greenpoint
Williamsburg North Side
Williamsburg South Side
South
Bath Beach
Bay Ridge
Bensonhurst
Bergen Beach
Borough Park
Brighton Beach
Canarsie
Coney Island
Dyker Heights
East Flatbush
Flatbush
Flatlands
Gerritsen Beach
Gravesend
Kensington
Manhattan Beach
Marine Park
Midwood
Mill Basin
Sea Gate
Sheepshead Bay
Sunset Park
B
S
C
N
page 8
page 10
page 6
page 12
Brooklyn Market Areas
Brown Harris Stevens 6
Brownstone Brooklyn Cooperatives & Condominiums
BrownHarrisStevens.com WEB# 19020296
BrownHarrisStevens.com WEB# 19461551
Condominium
Cooperatives
& Condominiums
Cooperative
Average Price Per Room Average Price Per Square Foot
Average Sales Price Median Sales Price
$1,400,000
$1,300,000
$1,200,000
$1,100,000
$1,000,000
$800,000
$900,000
$1,178,069
$952,500
3rd Q18
$1,191,647
$938,438
1st Q18
$1,203,079
$950,000
4th Q18
$1,299,321
$999,900
2nd Q18
$225,000
$200,000
$175,000
$150,000
$125,000
$75,000
$100,000
$1,300
$1,200
$1,100
$1,000
$900
$700
$800
$1,214
$1,129
1st Q18 1st Q19
$225,703 $216,525
1st Q18 1st Q19
First Quarter 2019
Average & Median Sales Price
A decline in luxury closings helped drive the
average apartment price 9% lower than a
year ago.
Prices fell for both co-ops and condos
compared to 2018’s first quarter.
$1,081,044
$898,097
1st Q19
Brown Harris Stevens 7
Brownstone Brooklyn 1-3 Family Houses
Average Sales Price Median Sales Price
AVERAGE & MEDIAN SALES PRICE
$2,750,000
$2,500,000
$2,250,000
$2,000,000
$1,750,000
$1,500,000
$3,000,000
$2,736,522
$2,400,000
3rd Q18
$2,270,095
$1,860,000
1st Q18
$2,504,079
$2,210,000
2nd Q18
$2,573,383
$2,150,000
4th Q18
$1,050
$1,000
$950
$900
$850
$750
$800
$858
2nd Q18
$1,075
3rd Q18
$939
4th Q18
$878
1st Q18
First Quarter 2019
The average 1-3 family house price climbed
3%
over the past year, to $2,333,488.
Average Price Per Square Foot
Average & Median Sales Price
$2,333,488
$2,300,000
1st Q19
$920
1st Q19
BrownHarrisStevens.com WEB# 19423459
Brown Harris Stevens 8
North Brooklyn Cooperatives & Condominiums
Average Sales Price Median Sales Price
$1,300,000
$1,200,000
$1,100,000
$1,000,000
$900,000
$700,000
$800,000
$1,110,615
$970,000
3rd Q18
$1,129,936
$955,000
2nd Q18
$1,093,203
$972,594
1st Q18
$1,077,682
$962,000
4th Q18
$1,123
1st Q18
$1,182
1st Q19
$1,250
$1,200
$1,150
$1,100
$1,050
$950
$1,000
First Quarter 2019
Apartment prices averaged $1,206,081 in
the first quarter, a 10% improvement
compared to a year ago.
Cooperatives
& Condominiums
Condominium
Average Price Per Square Foot
Average & Median Sales Price
BrownHarrisStevens.com WEB# 19455990
$1,206,081
$1,064,235
1st Q19
Brown Harris Stevens 9
North Brooklyn 1-3 Family Houses
Average Sales Price Median Sales Price
Average Price Per Square Foot
AVERAGE & MEDIAN SALES PRICE
$2,250,000
$2,000,000
$1,750,000
$1,500,000
$1,250,000
$1,000,000
$1,937,608
$1,900,000
3rd Q18
$1,887,840
$1,812,500
1st Q18
$2,019,644
$2,030,000
2nd Q18
$1,949,286
$1,790,000
4th Q18
$2,500,000
$1,100
$1,000
$900
$800
$700
$500
$600
$914
2nd Q18
$801
3rd Q18
$910
4th Q18
$705
1st Q18
AVERAGE & MEDIAN SALES PRICE
First Quarter 2019
1-3 family prices rose over the
past year, with the average price
reaching $2,132,714.
Average & Median Sales Price
$2,132,714
$2,000,000
1st Q19
$848
1st Q19
Central Brooklyn Cooperatives & Condominiums
Brown Harris Stevens 10
Average Sales Price Median Sales Price
CONDOMINIUM
$800,000
$700,000
$600,000
$500,000
$400,000
$200,000
$300,000
$722,344
$659,500
3rd Q18
$694,904
$697,501
2nd Q18
$692,848
$677,136
1st Q18
$726,296
$691,595
4th Q18
$850
$800
$750
$700
$650
$550
$600
$781
$788
1st Q18 1st Q19
First Quarter 2019
The average price ticked up over the past
year, while the median price fell 3%.
Cooperatives
& Condominiums
Average & Median Sales Price
Condominium
Average Price Per Square Foot
$695,927
$660,000
1st Q19
Central Brooklyn 1-3 Family Houses
Brown Harris Stevens 11
Average Sales Price Median Sales Price
$1,100,000
$1,000,000
$900,000
$800,000
$700,000
$600,000
$982,434
$820,000
3rd Q18
$854,433
$770,000
1st Q18
$886,780
$790,000
2nd Q18
$1,150,000
$891,906
$830,000
4th Q18
$400
$375
$350
$325
$300
$250
$275
$376
2nd Q18
$414
3rd Q18
$406
4th Q18
$366
1st Q18
First Quarter 2019
At $928,811, the average 1-3 family price
was 9% above last year’s level.
Average Price Per Square Foot
Average & Median Sales Price
$928,811
$820,000
1st Q19
$396
1st Q19
BrownHarrisStevens.com WEB# 19502983
South Brooklyn Cooperatives & Condominiums
Brown Harris Stevens 12
CONDOMINIUM
COOPERATIVES & CONDOMINIUMS
COOPERATIVE
Average & Median Sales Price
Average Sales Price Median Sales Price
$500,000
$450,000
$400,000
$350,000
$300,000
$200,000
$250,000
$675
$700
$650
$625
$600
$575
$550
Average Price Per Square FootAverage Price Per Room
$89,388 $97,441
1st Q18 1st Q19
$627
$620
1st Q18 1st Q19
$95,000
$90,000
$85,000
$80,000
$75,000
$65,000
$70,000
$473,257
$415,370
2nd Q18
$485,186
$436,020
1st Q18
$488,346
$440,000
4th Q18
$471,558
$420,000
3rd Q18
First Quarter 2019
A sharp decline in condo sales helped bring
the overall average apartment price down
11%
from a year ago.
Cooperatives
& Condominiums
Cooperative
Average Price Per Room
Average & Median Sales Price
Condominium
Average Price Per Square Foot
$432,782
$375,180
1st Q19
BrownHarrisStevens.com WEB# 19414182
BrownHarrisStevens.com WEB# 19487271
South Brooklyn 1-3 Family Houses
Brown Harris Stevens 13
Average Sales Price Median Sales Price
$950,000
$900,000
$850,000
$800,000
$750,000
$700,000
$927,757
$820,000
2nd Q18
$952,498
$835,500
1st Q18
$933,633
$825,000
3rd Q18
$1,000,000
$500
$475
$450
$425
$400
$500
$475
$466
2nd Q18
$487
3rd Q18
$497
4th Q18
$465
1st Q18
First Quarter 2019
The average price per square foot rose
6% over the past year to $492.
Average Price Per Square Foot
Average & Median Sales Price
$492
1st Q19
$972,864
$880,000
4th Q18
$967,798
$835,750
1st Q19
Prepared by Gregory Heym,
Chief Economist,
Brown Harris Stevens.
©2019 by Brown Harris Stevens.
All Rights Reserved. This information
may not be copied, used or
distributed without Brown Harris
Stevens’ consent. While information is
believed true, no guaranty is
made of accuracy.
212.906.9200
5TH AVENUE
CENTRAL PARK WEST
Contact us
CENTRAL PARK
West Side
1926 Broadway
Kevin Kovesci, EVP
Managing Director of Sales
Downtown
130 Fih Avenue
Stephen Klym, EVP
Managing Director of Sales
Tribeca
43 North Moore
Stephen Klym, EVP
Managing Director of Sales
Brooklyn Heights
129 Montague Street
Christopher Thomas, EVP
Managing Director of Sales
Park Slope
244 Fih Avenue
Camille Logan, EVP
Managing Director of Sales
Brown Harris
Stevens
Development
Marketing
445 Park Avenue
Stephen Kliegerman,
President, Development
Marketing
Madison Avenue
790 Madison Avenue
Caroline E. Y. Guthrie
Managing Director of Sales
East Side
445 Park Avenue
Bess Freedman, CEO
Hall F. Willkie, President
Ruth McCoy, EVP
Managing Director of Sales
Neil M. Laurine, EVP
Managing Director of Sales
BHS Residential
Management
Paul J. Herman, President
Residential Management LLC
Park Slope
100 Seventh Avenue
Camille Logan, EVP
Managing Director of Sales