Fort Greene Home Sale Prices Creep Down After Big Early Year

Real estate in New York has always been a fickle thing — but the clouds might be starting to recede, particularly for homeowners in Brooklyn, according to the Real Estate Board of New York.

In a report released this week, the board examined New York City neighborhood by neighborhood, and found a 21 percent increase in home sales volume in the second quarter of 2013, compared to the previous three months. 

Average home prices also increased by six percent — hitting just under $650,000, 

Brooklyn led the way in both categories, seeing an eight percent overall increase in home sale price — hitting just under $650,000 — and a 29 percent increase in sales of one-to-three family homes. 

Steven Spinola, president of the Real Estate Board, said prices are likely to continue their climb, particularly in hot areas like Brooklyn.

“It remains to be seen what impact rising mortgage rates will have on sales activity going forward," Spinola said. "But the market overall is seeing steady gains and we anticipate the trend will continue.” 

In Fort Greene, average home sale prices actually saw a sizable decrease in the most recent quarter, dipping below $1 million. The sale price drop between quarters this year was 18 percent. 

 Despite that decrease, their average over 2012 still went up by five percent.

In the most recent quarter, the average home sale price was $870,000, compared to $828,000 last year.