Aptsandlofts.com released a report this week focused on the skyrocketing Brooklyn real estate market. Brooklyn Heights is one of the hottest neighborhoods in the borough. But we knew that already, eh?
Let’s throw a number at you — in 2003 the average co-op price here was $272K. Last year it was $625k.
Here’s a pretty chart from the report:
AMNY: Focusing on eight hot neighborhoods — including Williamsburg, Park Slope, Brooklyn Heights, Bedford Stuyvesant and DUMBO — the group outlined in a new report the stunning rise both in prices and the number of condos, co-ops and town houses sold between 2003 to 2013.
The number of Williamsburg co-op and condo sales jumped from 21 in 2003 to 500 in 2013, while the average sales price soared from $331,000 to $825,000, an increase of more than 150%. Park Slope’s sales of co-ops and condos went from 130 in 2003 to 510 last year, with the average sales price growing by almost $400,000. In Brooklyn Heights, meanwhile, the average condo price went up 126%. In 2003, only 12 condos were sold in Bed-Stuy; last year, there were 132.
Aptsandlofts.com – Brooklyn Ten Year Sales Study