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.
