3Q 2024 Townhouse Market: Brooklyn shows robust activity

3Q 2024 Townhouse Market: Brooklyn shows robust activity

skylight

Manhattan | Brooklyn

Peter Comitini

Corcoran Group

Licensed Associate Real Estate Broker

Real estate, design, tech, food, and other ramblings by Peter Comitini

Once again Brooklyn led the market in volume and appreciation, while Manhattan showed signs of a stabilizing market.

 

Brooklyn leads the NYC Townhouse market with 5.4 times the sales volume of Manhattan in 2024

In 2024, Brooklyn townhouses continued to dominate New York City’s townhouse market, with the borough recording 255 closed transactions, significantly outpacing Manhattan’s 47 sales. Townhouses represent a niche segment of the real estate market, accounting for about 10% of annual property transactions. Their popularity, particularly in Brooklyn, reflects a consistent demand for these historic and often architecturally significant homes.

It's notable that in Manhattan this represents a 42% year-over-year increase in sales volume, with appreciation that has remained flat amidst broader market pressures ina more mature market. Brooklyn’s higher volume of sales points to its continued role as an attractive alternative for people seeking all of the privacy and advantages of townhouse living averaging half the cost of Manhattan properties. The average price per square foot increased 2% to  $911 PPSF in Brooklyn compared to $1,869 PPSF in Manhattan. It's important to note that the numbers can vary greatly depending on exact location, and the number of sales being sampled in a particular pricing tier. Lucky for us, Corcoran publishes the Finest comprehensive guide to this market, and it's available free upon request using the button below. 

For a deeper dive into the 2024 townhouse market trends and detailed highlights of Brooklyn and Manhattan transactions, download our full report. Click the button below to access comprehensive data and insights that can help inform your next real estate decision. If you're interested in gaining a better understanding of what your townhouse might be worth in today's market, we offer every homeowner the opportunity for both automated and broker researched market analysis. Learn more about those services here.

 

Request a Townhouse Report

 

 

Once again Brooklyn led the market in volume and appreciation, while Manhattan showed signs of a stabilizing market.

 

Brooklyn leads the NYC Townhouse market with 5.4 times the sales volume of Manhattan in 2024

In 2024, Brooklyn townhouses continued to dominate New York City’s townhouse market, with the borough recording 255 closed transactions, significantly outpacing Manhattan’s 47 sales. Townhouses represent a niche segment of the real estate market, accounting for about 10% of annual property transactions. Their popularity, particularly in Brooklyn, reflects a consistent demand for these historic and often architecturally significant homes.

It's notable that in Manhattan this represents a 42% year-over-year increase in sales volume, with appreciation that has remained flat amidst broader market pressures ina more mature market. Brooklyn’s higher volume of sales points to its continued role as an attractive alternative for people seeking all of the privacy and advantages of townhouse living averaging half the cost of Manhattan properties. The average price per square foot increased 2% to  $911 PPSF in Brooklyn compared to $1,869 PPSF in Manhattan. It's important to note that the numbers can vary greatly depending on exact location, and the number of sales being sampled in a particular pricing tier. Lucky for us, Corcoran publishes the Finest comprehensive guide to this market, and it's available free upon request using the button below. 

For a deeper dive into the 2024 townhouse market trends and detailed highlights of Brooklyn and Manhattan transactions, download our full report. Click the button below to access comprehensive data and insights that can help inform your next real estate decision. If you're interested in gaining a better understanding of what your townhouse might be worth in today's market, we offer every homeowner the opportunity for both automated and broker researched market analysis. Learn more about those services here.

 

Request a Townhouse Report

 

 

 

More Skylight

 

More Skylight

 

Instant Home Valuation

What’s your home worth?

Instantly receive an estimate with our free home valuation tool. For an even more accurate and personalized assessment, we can refine the estimate based on your property’s unique features. Whether you're planning to sell or just want to stay informed, start here to uncover your home's true potential. Ready for expert advice? Contact Peter for a comprehensive Comparative Market Analysis (CMA).

This property estimate is based on an automated valuation model (AVM) that utilizes public data and trends to estimate the current selling value of your home. It serves solely for informational purposes and is not an appraisal. Prior to making any significant decisions, you should consult with your trusted licensed real estate broker or licensed appraiser. We provide a complimentary on-site home market evaluation for homeowners considering the sale of their property

Work with Peter Comitini

"For two decades, I've guided clients through the ins and outs of NYC real estate by offering boutique service, customized marketing, and the expertise to get your deal done. Learn more by exploring my site and book a call below to begin your journey"

—Peter Comitini

Work with Peter Comitini 

"For two decades, I've guided clients through the ins and outs of NYC real estate by offering boutique service, customized marketing, and the expertise to get your deal done. Learn more by exploring my site and book a call below to begin your journey"

—Peter Comitini

Follow Peter Comitini On Instagram

Ready to talk?
Book a call with me today