After getting off to a strong start in September, Brooklyn’s luxury market experienced a slight dip in the past week.
The volume of high-end home contracts signed after Labor Day sunk to $33 million over 10 deals, down from 15 contracts totalling $47 million the week before.
Last week’s deals were evenly split between townhomes and condos, according to Compass’ weekly report on luxury home contracts of $2 million or more.
The median asking price across the 10 deals inked in the week following Labor Day was $3.2 million, with an average of 162 days on the market and an average drop in listing price of 3 percent.
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The priciest property was a Clinton Hill townhouse at 141 Saint James Place. The five-bed, 4.5-bath property dates back to 1871, but was gut-renovated with a new kitchen and bathrooms. The two-family home spans 3,800 square feet and comes with two fireplaces and 11-foot ceilings. It was last asking $4.25 million.
The second priciest contract was a five-bedroom townhouse in Carroll Gardens that was last asking just over $4 million. The home at 380 Degraw Street was originally built in 1899 and spans more than 3,700 square feet. Original moldings have been preserved and the home has a landscaped rear garden. The home’s price per square foot — $1,100 — is in line with the average price for Carroll Gardens, which is one of Brooklyn’s most expensive neighborhoods.
Despite a slowdown in residential transactions due to the pandemic, Brooklyn’s sales and rental markets have generally fared better than Manhattan.