Brooklyn trounces Manhattan in sales

While Manhattan’s residential sales market was strong in the first quarter, Brooklyn’s market performed exceptionally well, according to a report from the Corcoran Group released earlier this week. Brooklyn’s average sales price jumped 22 percent from the first quarter of 2006 to the first quarter of 2007, according to the report, while Manhattan’s only went up 4 percent year-over-year. Brooklyn’s average price increases were boosted by a 46 percent increase in condo sales prices; co-op sales prices declined 5 percent in the borough, and multi-family home sales also posted a decline. Corcoran is the only city brokerage that regularly tracks quarterly sales statistics for Brooklyn. TRD