Asking Prices Reach Record Highs In Brooklyn: Study

BROOKLYN, NY — Brooklyn home prices hit record highs in July as the luxury home market continued to boom citywide, a StreetEasy study found.

The median asking price for a home in Brooklyn topped $1 million in July for the first time since at least 2010, StreetEasy found.

This summer marks a 5.3 percent increase over asking prices last year, as Brooklyn continues to gain popularity with New York City homeowners.

Pair that demand with a falling housing stock and you have a perfect market for a seller — Brooklyn homes are generally selling at 98.4 percent of asking price.

Townhome sales are dominating the luxury buyer market — in June, a StreetEasy study found that despite rising prices, wealthy buyers were still snatching up Brooklyn brownstones faster than any other borough.

Brooklyn Heights hosted the borough's most expensive sale at $14 million for a 6,354-square-foot townhouse.

Across the city, luxury home sales decreased in July — but StreetEasy doesn't predict that dip will last long.

Manhattan still outpaced Brooklyn in the most expensive sales, with the median asking price hitting $1.59 million.