Brooklyn real estate is still in flux, but it seems to be moving in a new direction.
New data from the realtor analytics firm Trulia shows that the number of properties for sale in Brooklyn has gone up in the last six months.
The average price per square foot in Brooklyn is now $2,908, up $2 from last year, according to Trulia’s data.
There are also more listings in Brooklyn now than there were a year ago, with an average of 3,542 properties for the year.
But that number may not necessarily represent the true market as it relates to prices.
Trulia, which tracks the sale and rental of homes, also recently updated its listings database to show that the median price for a single-family home in Brooklyn last year was $1,049, up from $1) the same year in 2016.
But the median for a three-bedroom condo is now just $1.3 million, down from $2.1 million a year earlier.
Trussel also found that prices have been rising in the neighborhoods where Brooklyn is located, particularly in the South Bronx.
The median price of a single family home in the Bronx increased from $5,973 last year to $6,856 this year.
And the median home price in the area rose from $3,664 to $4,947.
And it seems as though the median house price in Brooklyn continues to rise, with the median number of listings for sale increased from 8,065 in April to 11,564 this year, Trulia said.
There are some areas of Brooklyn where the median prices are not as high as they are in Manhattan, however.
In Brooklyn Heights, the median single family house price rose to $2-3 million last year from $4.9 million in the same time period last year.
The number of sales for single-detached homes in Brooklyn Heights decreased from 2,979 in April 2018 to 2,621 in June 2018.
In Queens, the number was just $2 million in June from $6.7 million in April.
And in Brooklyn, the price of single-families increased from just $5.3 in April, to $5-6 million in July, with median prices in the borough continuing to rise.
The median home value in Brooklyn declined by nearly $2 billion in the first six months of 2018, according the data.
But prices were still rising, Trussel said.
