The Real Deal New York

62% of brownstone Brooklyn homes sold at or above ask in Q4

January 03, 2014 11:35AM

ideal-properties

Aleksandra Scepanovic and Prospect Heights brownstones

Bidding wars raged on in brownstone Brooklyn as roughly 62 percent of houses sold at or above their asking price in the fourth quarter of 2013, according to data from Brooklyn-based brokerage Ideal Properties Group.

Homes in Greenpoint, Prospect Heights, Park Slope and Williamsburg cost an average of $970,000, the data shows. The average condominium there cost $876,227, up 27 percent year-over-year while the median price for condos was $671,857 — a 5 percent climb year-over-year. 

“Higher interest rates seem to have done little to curtail demand, which in turn is continuing to fuel rising prices,” Aleksandra Scepanovic of Ideal Properties told DNAinfo. “And with 2013 having left many buyers in Brooklyn wanting more, the constrained inventory may very well lead to prices escalating further in the new year.”

Boerum Hill had the highest average sales price among the brownstone neighborhoods, with $1.73 million, which was a 50 percent rise from 2012’s fourth quarter. Sales prices in Williamsburg were the highest in north Brooklyn – at an average of $1.08 million, a 36 percent jump.

As for Manhattan’s fourth quarter, 3,297 apartment transactions closed, a 26 percent increase over the same period in 2012, and the median condo sale price hit $1.32 million, up 14.3 percent from $1.13 million this time last year, as The Real Deal reported, citing a Douglas Elliman report released today. [DNAinfo]Mark Maurer

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