Brooklyn And Queens Boost New York Homes Sales Figures As Some Properties Record 136 Percent Increase In Year On Year Value

Home sales in Brooklyn and Queens lifted average home prices in New York City to a six-year high.

According to a report released by the Real Estate Board of New York, the sales gain was fuelled by up-and-coming neighborhoods in Brooklyn and Queens, where house prices have sky-rocketed.

Home sales in New York have gone up to a 6-year high, fuelled by year-over-year third-quarter increases of 31.6 percent for Brooklyn and 41.95 percent for Queens.

Dyker Heights in Brooklyn saw the average price of a home there go from $249,000 in 2012 to $587,000, a jump of 136 percent, in 2013, and in Springfield Gardens/Jamaica, Queens’ home prices have gone from and average of $105,000 to $161,000, increasing by 53 percent.

The highest prices in the two boroughs belong to Boerum Hill, Brooklyn and Jamaica Estates/Holliswood, where average home prices sit at $1.452 million and $667,000, respectively.

Many coop properties have seen a 100 percent increase, but on average, the two boroughs saw a 64 percent jump in overall sales prices.