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Douglas Elliman Report: Brooklyn Sales 2Q 2011

A quarterly survey of Brooklyn residential sales.

…Over the past five quarters, Brooklyn price indicators have shown modest gains over the same period the last year. In the second quarter, median sales price was $480,000, 3.7% above $463,000 in the second quarter last year and 1.1% above $475,000 in the prior quarter. Average sales price showed the same pattern. The rise of each price indicator was largely attributable to the increase in the average size of a sale in the quarter. While new development sales averaged 1,030 square feet and was essentially unchanged over the past year, the average resale, representing 75.4% of all apartment sales, expanded 4.9% to 2,155 square feet over the same period…

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