Home Prices in Brooklyn Down 3%
The New York Daily News reports that according to the Real Estate Board of New York’s quarterly report, the average home price in Brooklyn fell 3% to $582,000 for the first three months of 2008. In contrast, apartment prices rose 13%. Good news for all the Condo and Co-op owners.
The same report shows that Manhattan Real Estate prices have continued to soar, with the average home price reaching a record $1.6 million . The board said the prices of co-ops, condos and townhouses were up a staggering 41% over the $1.1million in the first quarter of 2007. Congratulation to all you Manhattanites.
