The Brooklyn housing market saw Manhattan-like pricing leaps over the 12 months ending Dec. 31. For Brooklyn co-ops and condos, combined, the median sales price by the end of 2005 was $500,000, according to a market report released this week by the Corcoran Group. That’s a 23 percent increase from the same time in 2004. The average sales price was $559,000, Corcoran reported, an 18 percent increase over fourth quarter 2004.
Neighborhoods closer to Manhattan saw particularly sharp price increases. Condos in East River-bordering Brooklyn Heights, for instance, experienced a 32 percent median price jump from the fourth quarter 2004 to the fourth quarter 2005, from $425,000 to $560,000, according to Corcoran. The median price for co-ops in Brooklyn Heights over the same 12-month period jumped 17 percent to $399,000. In Park Slope, the median sales price of a one-family townhouse increased 103 percent to more than $2.9 million from fourth quarter 2004 to fourth quarter 2005.