The Reel

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A blog for breaking sales and neighborhood real estate news.

After the first three quarters of 2014, Brooklyn's dollar volume is $5 billion, higher than any other given full year.  Annualized, dollar volume is projected to increase by almost 75% from 2013.  The number of properties sold is projected to be just above 2,000, exceeding the 2006 peak volume.

Through the third quarter of 2014, the average price per square foot was $310, up 14% from 2013's annual average.  Price per buildable square foot was $166 during the first three quarters, up 23% from a year ago.  Both price per square foot and price per buildable square foot started increasing rapidly in 1H13 - a trend we believe is going to stay as Brooklyn transforms into a more mature live and work environment.