Williamsburg Breaks New Home Price Record in 2015, but Occupies Bottom Position in the Top 10 List of Most Expensive Brooklyn Neighborhoods
The crowned king of Brooklyn gentrification, Williamsburg occupies only the 9th spot on Brooklyn’s top 10 star neighborhood list. This is despite the fact that the Williamsburg real estate market registered its highest median home sale price ever: $900,600.
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A New Record for Williamsburg’s Median Home Sale Price: $900,600
With only 499 residential sales* closed in 2015 — the second lowest number of sales in the last decade — Williamsburg managed to hit a new record in terms of median sale price. Home buyers paid approximately $900,600 for an average home in Williamsburg, an increase of 9% from last year. This is less than the price paid for an average home in Greenpoint.
For the first time ever, the median home price per square foot went over $1,000, breaking the last record set in 2014.
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* We took into account only single-family, condo and coop sales. The sales data for 2015 is based on all transactions closed in the neighborhood between Jan. 1 and Dec.15, 2015.
The Best Year for Williamsburg Luxury Home Sales
There were 88 homes priced above $1.5 million which changed hands in Williamsburg last year, making it the best year for luxury transactions*. Most of them are apartments in high-rise buildings, which is something to expect. The condo market has been thriving for years now, triggering major changes in Williamsburg’s cityscape.
Check out the top 5 most expensive homes sold in Williamsburg in 2015:
#1 440 Kent Avenue #PH2A / Sale Price: $5,250,000
#2 172 N 10 Street #4PH / Sale Price: $3,920,263
#3 201 North 11 Street #RES3 / Sale Price: $3,818,438
#4 34 North 7 Street #PH2C / Sale Price: $3,812,500
#5 34 North 7 Street #PH2F / Sale Price: $3,700,000
* Luxury sales are all properties sold for $1.5 million and over in this neighborhood.
Head on over to real estate listings website Point2 Homes to browse the available homes for sale in Williamsburg.
