StreetEasy: East Brooklyn home prices escalate

  • Both the Brooklyn and Manhattan for-sale markets demonstrated notable growth when rivaled against last February’s median prices.
  • Rents in Manhattan grew a median 3.3 percent annually to reach $3,114 in February.
  • In Brooklyn, median rent growth did not ascend as high as sales prices -- and in some neighborhoods, it dropped.
  • The report expects the Brooklyn home market to cool in the next 12 months overall, with Manhattan annual price growth also expected to slow down.

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Both Manhattan and Brooklyn saw sustained growth in February compared to 2015 levels, but East Brooklyn surpassed all neighborhoods with a 20.5 percent rise in median asking price, says StreetEasy’s February market report.