4Q 2016 Sales Report: Residential Prices Up

BROOKLYN, NY – Residential sales prices increased to $1,497,460 in Brownstone Brooklyn and North Brooklyn in the fourth quarter of 2016, according to the Brownstone Brooklyn and Beyond market report released today by Ideal Properties Group, a leading real estate firm. This represents an increase of 2.6 percent from the same time period in 2015 and a 7.1 percent increase from the previous quarter. The quarterly report is Ideal Properties Group’s analytical look into the borough’s most popular neighborhood sales markets. Median sales price for Brownstone Brooklyn and North Brooklyn’s residential properties was $1.142 million. Average prices per square foot grew by 7.2 percent to $1,077 since 4Q2015, while median prices per square foot rose from $987 per square foot to $1,096, increasing by 11 percent.