There was a surge in the average prices of homes in Brownstone and North Brooklyn. The average was close to $1.5 million during the final months of 2016.
Neighborhoods such as Greenpoint, Brooklyn Heights and Park Slope represented the 2.6 percent jump in prices from the fourth quarter of 2015 with their average of $1.49 million for townhouses, co-ops and condos; this according to the real estate firm, Ideal Properties Group.
In the fourth quarter of 2016, townhouses let the market with an average price of $2.5 million, which meant a 4.1 percent drop if compared to the same period a year ago. Condos had an average sales price of $1.5 million, which was a 24 percent increase over the fourth quarter of 2015.
According to Ideal’s managing director Aleksandra Scepanovic, the price trend will continue in Brooklyn this year. “As the real estate markets anticipate the change at the helm of the nation, we expect that in 2017, we will see increased interest, new developments and higher prices,” she said in a statement.