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By Accord Real Estate Group

Strong Residential Real Estate Market For Brooklyn Condos and Coops

November 2nd 2021
Tags: Brooklyn Blog, Brooklyn Real Estate

According to a 3rd Quarter, 2021 report released from the prestigious Brown, Harris, Stevens real estate firm, Condo and Coop sales in Brooklyn, NY are strong as we emerge from the coronavirus pandemic.

Currently, the top Brooklyn neighborhoods showing resilience in sales and in pricing are Carroll Gardens, Dumbo, Park Slope, Windsor Terrace, Fort Greene, Clinton Hill, Vinegar Hill, Bed Stuy, Bushwick, Crown Heights, Williamsburg, Greenpoint, Flatbush, Midwood, Ditmas Park, Downtown Brooklyn, Bensonhurst, Borough Park, Bay Ridge, Dyker Heights, Sunset Park, Red Hook, Gowanus, Coney Island and Sheepshead Bay.

According to Bess Freedman, CEO of Brown, Harris, Stevens “The Brooklyn apartments amazing run continued into the 3rd quarter as both prices and sales reached new heights”. “A great accomplishment just a year and a half after the start of the pandemic”.

According to Jeff Grandis, Broker at Accord Real Estate Group “Brooklyn offers more lifestyle choices, in more wonderful neighborhoods and has become a 1st choice for New Yorkers looking to settle down and plant roots”.

Average sale prices increased 19%, passing the $1M mark for the 1st time. Of course, some neighborhoods performed better than others. For example, East Williamsburg, Greenpoint and Williamsburg prices skyrocketed to an average price 32% higher than a year ago for high end new developments. Other Brooklyn neighborhoods experiencing this lofty price increase are Ditmas Park, Flatbush, Prospect Lefferts Gardens, Midwood and Prospect Park South.

As a side note, to the wonderful real estate market we are experiencing now, existing home sales are up as mortgage rates tick up and buyers come off the sidelines.

According to the National Association of Realtors, existing home sales rose 7%, stronger than economists have been expecting.

According to Jeff Grandis at Accord Real Estate Group “Home sales from one end of Brooklyn to the other are strong with no end in sight”.

If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn 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

Your Brooklyn Real Estate Brokers and Agents