Crains NY Business reports that real estate prices were up in Brooklyn during Q3, but that the number of homes sold declined in several neighborhoods in the borough including Brooklyn Heights:
Crains New York Business: Brooklyn Home Prices Up: The market for residential real estate in Brooklyn remained strong in the third quarter, according to a study by appraisal firm HMS Associates.The average sales price for Brooklyn homes rose 12% to $704,888 during the three months ended Sept. 30, according to the report, which included data on single and multi-family homes, as well as co-ops and condominiums. Average sales prices climbed 3% in the second quarter and 9% in the first quarter, though co-ops were not included in the data from the first three months of the year. Brooklyn single family home prices rose 20.1% to $723,000 from a year-ago, while four-family home prices climbed 19.1% to $1.2 million. Co-op prices rose 32.3% to $557,000 during the quarter, while condo prices dropped 2.9% from $616,000 to $598,000.