Brooklyn Market Report | February 2017
Brooklyn Market Wide Summary
February saw a double-digit increase in contract activity versus last year, with 26% more sales. Listed inventory increased mostly, up just 3% versus last February.
Median and average sale price experienced significant annual gains, with double-digit growth of 22% and 29%, respectively, marking the largest increase in pricing since March 2015.
All bedroom types except for studios experienced a 6% rise in pricing over the last year, fueling overall price per square up 10% year-over-year to $880 per square foot.
The trend of price discounts continued into February, with an average discount of 2.4% off asking price, and nearly half of sales below asking price.
Brooklyn Apartment Listings
Total listed inventory in February rose 3% compared to last year, and was up 2% month-over-month. The annual inventory gain was solely due to condos, as co-op inventory actually declined 6%. Condo inventory was up 11% year-over-year.
February saw a double-digit increase in contract activity versus last year, with 26% more sales. Listed inventory increased mostly, up just 3% versus last February.
Median and average sale price experienced significant annual gains, with double-digit growth of 22% and 29%, respectively, marking the largest increase in pricing since March 2015.
All bedroom types except for studios experienced a 6% rise in pricing over the last year, fueling overall price per square up 10% year-over-year to $880 per square foot.
The trend of price discounts continued into February, with an average discount of 2.4% off asking price, and nearly half of sales below asking price.
Brooklyn Apartment Listings
Total listed inventory in February rose 3% compared to last year, and was up 2% month-over-month. The annual inventory gain was solely due to condos, as co-op inventory actually declined 6%. Condo inventory was up 11% year-over-year.
No comments
All related comments are welcome. Spam and spammy links will not be published and will be deleted.