Townhouse Market Report for the Borough of Brooklyn: 1H 2021
In step with the rest of the market, Brooklyn’s townhouse scene enjoyed a robust first half of 2021, reaching the highest half-year level in over five years.
The Corcoran Group recently released its townhouse report for Brooklyn for the first half of 2021. Among the report’s key findings:
- The resurgence of the Brooklyn townhouse market continued with 1H 2021 sales reaching their highest half-year figure in over five years. Overall, the 715 closings represented a 71% increase versus the first half of last year, which was driven lower by last year’s market “pause.”
- Demand for single-family townhouses set new records, heightened by the desire for privacy and outdoor space as more buyers have the flexibility to work from home. Single-family closings in Williamsburg & Greenpoint were up 300%, while Park Slope & Gowanus closely followed with closings up 257%.
- Townhouse sales between $2M and $4M – and those over $4M – nearly doubled while townhouse sales between $1M and $2M saw a 73% year-over-year increase. Sales under $1M displayed a more muted gain of just 18% versus First Half 2020.
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