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By Accord Real Estate Group

Brooklyn's Luxury Residential Market Rebounds

July 15th 2020
Tags: Brooklyn Blog, All about Brooklyn New York, Brooklyn Real Estate

There are signs of life for Brooklyn NY Real Estate as the Brooklyn Luxury Residential Real Estate market saw $30M in deals to contract last week.

The $30M breaks down to contracts on 11 homes, 6 Townhouses, 3 Condominiums and 2 Co op apartments.

This has beern the strongest week in terms of the volume in these type deals since the week of March 9th. The week of March 9th, 2020 saw $45.3M in deals to contract for Brooklyn New Yrok luxury homes in the range of $2M or more.

The average asking price for last weeks properties was $2.4M and DOM (days on the market) 181.

356 Sackett Street took 1st position as the most expensive home. This 6 bedroom beauty enjoys 4,500 square feet of living space and was recently renovated. The asking price was $5.3M.

The #2 spot went to a Brooklyn Heights 3 bedroom duplex Coop apartment located at 160 Columbia Heights. This unit features a large terrace.

To best illustrate the uptick in deals to contract activity consider that the last week in June, the Brooklyn luxury residential market saw 5 deals to contract for $11.8M and the week before saw 4 deals for $9.5M total.

Let's hope that this trend continues. 

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

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