BROOKLYN — Residential properties in north and brownstone Brooklyn sold for an average of $1.425 million in the first quarter of 2016, and median prices increased 6.7 percent to $1.037 million from the previous year, according to a report titled Brownstone Brooklyn and Beyond, released by Ideal Properties Group.
Average prices per square foot rose by 9.3 percent to $1,026, while median prices per square foot rose by 10 percent, from $921 per square foot to $1,013, the report said.
The median price of residential sales in north and central Brooklyn went up by 3.7 percent in the first quarter of 2016 compared to the same time period last year, according the report.
While residential sale prices were up from this time last year, sales decreased slightly by 2.4 percent from the last quarter of 2015, according to the report.
“2015 represented a landmark year in Brooklyn, with residential real estate prices reaching new heights and this trend is continuing in 2016, although predictably, at a slower rate,” said Aleksandra Scepanovic, Ideal’s managing director, in a statement.
“As we move towards the warmer months of the year, we expect an increase in interest in our cherished borough, surmounting in higher sales prices across all asset classes.”
The report analyzed sales of individual co-op and condo units and one- to three-family townhouses in Boerum Hill, Brooklyn Heights, Carroll Gardens, Clinton Hill, Cobble Hill, the Columbia Waterfront District, Downtown Brooklyn, DUMBO, Fort Greene, Gowanus, Greenpoint, the Navy Yard, Park Slope, Prospect Heights, Red Hook, Vinegar Hill, Williamsburg and Windsor Terrace.
Of those neighborhoods, Park Slope led with 24 percent of completed home sales, followed by Williamsburg at 15 percent and Brooklyn Heights at 10 percent, the report said.
It also found that townhouse sale prices averaged $2.751 million, a 5.4 percent increase from the previous year and 4.1 percent increase from the previous quarter.
Median townhouse sale prices increased by .9 percent from the same period in 2015 to $2.5 million, an 18.3 percent increase from the last quarter of 2015.
Condo units continued to sell for more than $1 million for the eighth consecutive quarter, with an average sales price of $1.172 million — an increase of 4.6 percent from the previous year.
Co-op units sold for an average of $851,576 at a 7.7 percent increase from the previous year and 10.2 percent increase from the previous quarter.
Most homes sold between $500,000 and $999,000 in the first quarter of 2016, the report said.
Fifty-two percent of properties sold above list price, 38 percent sold at asking price and 10 percent sold below listing price.
The average time lapse between listing date and closing date was 116 days, the report said.
The number of home sales in north and central Brooklyn still lags behind those on the south side of the borough, according to the report. Home sales in south Brooklyn accounted for 48 percent of all transactions, with central Brooklyn coming in second at 39 percent, and East Brooklyn coming in third at 13 percent.
A separate report released this week by the Corcoran Group found Brooklyn-wide median apartment sales have hit a post-recession high, with the median price of Brooklyn apartments surpassing $600,000 in the first quarter of 2016 — the highest in almost eight years and a 15 percent jump from the same time a year ago.