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Brooklyn Townhouse Report: Q1 & Q2

October 7, 2022

Overview

Record level prices in the first two quarters of 2022 prove that Brooklyn Townhomes are still one of the most in-demand products. In fact, the majority of all sales in Brooklyn were single and multi-family Townhouses.

Of the 675 sales, the average price was 2.45M, a 13% increase since last year. A rise in post-pandemic demand for more square footage and private outdoor spaces has led to a significant market shift towards higher-price sales. The average price per square foot has risen to $852/sqft, a 10% increase from last year and the second highest ever, beaten only by the second half of 2021.  

Townhouse sales under $2M declined, but sales over $2M increased by 10%, with 70 of those selling for over $4M. Overall, both the median and average prices set new record highs for townhouses. As a result, closed sales declined 12% compared to the First Half of 2021. However, this year’s numbers are still well above the recent historical average.

Key Takeaways:

Closed Sales: 675 (-12% YOY)
Average Price per square foot: $852 (+10% YOY)
Median Price: $2.050M (+14% YOY) 
Average Price: $2.451M (+13% YOY)
Closings over $4M: 70

To read the full report, click here.

If you’re looking to sell or buy, connect with us here, we’d love to help you find your perfect match.

 For more real estate tips and luxury apartment tours, follow Randy on Instagram (@randybaruh) and TikTok (@randy_baruh).

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