Hello,
Here’s your July Brooklyn Market update.
We’re happy to have completed another 2 transactions in Brooklyn this month, which were certainly the result of great collaboration between the team and our clients, particularly in terms of correct positioning of the properties.
Both transactions fell well within the 45–65 days on market, which is the current range for Brooklyn properties.
Contracts signed were down 25% MOM and fell below the rolling average in July by about 10%.
Brooklyn townhouse contracts, while also down 22%, remained above the rolling average by 10%.
We expect activity to remain relatively quiet until we get through the rest of August and the “back to school/work” phase of September.
Here’s sending you my very best until we see each other in person.
