There Are So Many $3M Townhouses in Brooklyn These Days

In 2009, 11 townhouses sold in Brooklyn for more than $3 million. In 2014, there were 98.

Post-recession, the townhouse market in Brownstone Brooklyn and North Brooklyn has exploded, to an astonishing degree, a new report from Ideal Properties Group shows. The number of $3 million townhouses sold in those areas has basically doubled every year since 2009, increasing 579 percent over that time span. The percentage of the Brownstone/North Brooklyn market that $3 million houses takes up has also skyrocketed, up to 9.5 percent in 2014, from 4.7 percent in 2013. (In '09, it was 1.4 percent.) None of this should really come as a shock to anyone who has been paying attention, but when you see the numbers laid out like that... oh man. Brooklyn townhouses are very expensive.

· The Transformative Years: Townhouse Sales Over $3M in Brownstone Brooklyn and Beyond [Ideal Properties Group]
· Brooklyn's luxury townhouse market reaches record highs [NYDN]
· Brooklyn Townhouses archives [Curbed]