Brooklyn has become once of the fastest growing boroughs in real estate.
According to a Douglas Elliman survey, it’s been a record-breaking last three months for Brooklyn. The median price of a Brooklyn apartment is now at an all-time high of $676,250 — up 15.1 percent from the year before. Brooklyn is the only borough to best price records.
Compared to Manhattan co-ops and condos with three bedrooms or more in Brooklyn jumped 25 percent from last year’s median of $1.28 million to $1.6 million, per Corcoran. One-to-four-family townhouses — saw median prices rise from $675,000 to $760,000, according to Halstead Property.
So why is Brooklyn real estate booming?
- Low Inventory. Not enough available properties.
- High Demand. There’s more buyers than available properties. Buyers who can’t afford in prime areas are heading to Brooklyn.
Our website provides access to properties for sale in Brooklyn. CLICK HERE TO START YOUR SEARCH.
If you are looking to buy or sell in Brooklyn call us at 516-575-7500.
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