Residential sales prices in North and Northwest Brooklyn are off to a hot start in 2016, according to Ideal Properties, which reported a 3.7 percent increase in the first quarter of 2016 in its Brownstone Brooklyn and Beyond market report.
- The quarterly report from the residential firm focused on North Brooklyn, which holds the neighborhoods of the Navy Yard and Greenpoint.
- While Brooklyn’s prices showed a slight decrease of 2.4 percent from the prior quarter, seasonality plays an important role in New York City’s shifting valuations.
- Brownstone and North Brooklyn residential properties sold for an average of $1.425 million last quarter.
- Days on the market increased significantly for Brownstone co-ops in year-over-year analysis.