But demand was stronger or held steady across all price points, suggesting there were other factors driving sales. The top fifth of the Brooklyn market, with a median price of $1.6 million, had 147 signings, virtually unchanged from the same period a year ago. And the surge in sales was not only in affluent areas, like Downtown Brooklyn, but also in more affordable neighborhoods including Bay Ridge and Flatbush. But the disproportionate rebound in Brooklyn and, to a lesser extent, Queens, suggests that buyers are also adjusting priorities. “Anything with outdoor space is flying, and renovated townhouses that are priced well are going into bidding wars,” Melissa Leifer, an agent with Keller Williams NYC, said about the recovering Brooklyn market.

Source: New York Times September 24, 2020 09:00 UTC