Brooklyn Colonial Revival Leads Weekly Listings Surge
Market Overview and Property Highlights Brooklyn's real estate market shows exceptional resilience as we enter 2025. A significant trend is the rise in Colonial Revival listings during this period of broader market gains. Contract signings have risen by 7% compared to last year. The median sale price has now reached $800,000, making it the second-highest on record. Market trends reflect a growing preference for turnkey properties, especially in the Colonial Revival segment. The average price per square foot has climbed to $1,050, indicating steady appreciation across Brooklyn's neighborhoods. There has been a shift in inventory dynamics, with active listings now at 3,406 units. This represents a 2.7% increase since late March. The recent softening demand for office and retail spaces has further influenced the residential market, redirecting investor focus toward more lucrative property segments like Colonial Revival homes. The expansion in inventory is modest, as sellers aim t...