Real estate market in downtown Brooklyn is growing rapidly after the pandemic

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Real estate market in Brooklyn downtown is reborn after COVID-19 wreaked havoc on the country and the economy.

Homes in the area have surged in value since the darkest days of the COVID-19 pandemic, with average prices up 79 percent this year compared to the second quarter of last year. PropertyShark study published Wednesday showed

The study says that buyers could expect to buy an apartment for $ 765,000 between April and June last year, but the average price has soared to $ 1,368,000 over the past three months.

The area also climbed from 42nd most expensive neighborhoods to 13th most expensive neighborhoods in the city in just one turn around the sun, according to research.

Hudson yards The study found it to be the most expensive area in the city, with an average home price of $ 5,710,000.

Brooklyn aerial view.  Wednesday, 2 June 2021
Downtown Brooklyn is now the 13th most expensive borough in New York City.
Paul Martinka

Tribeca as well as Soho round out the top three, as Manhattan neighborhoods dominate the top ten.

Dumbo ranked ninth on the list and was the most expensive area in outskirtswith an average home price of $ 1,490,000.

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