Somewhere in between the release of last week’s Manhattan market reports and the moment the first burger hit the grill on the Fourth of July, real estate appraisal firm HMS Associates snuck out a second-quarter recap of Brooklyn sales action. The numbers are similar to Manhattan’s, in that they are ruthless: double-digit price declines over last year (the Brooklyn average was $548,560), sales cut in half, etc. The Brooklyn Paper has a tidy summary of the report, pointing out that the biggest price declines came in the hybrid mega-hood of Dumbo, Boerum Hill and Downtown Brooklyn. Read the full article at Curbed .

According to appraisal firm HMS Associates, residential sales volume in Brooklyn was down 65 percent in the first quarter, compared to the same period last year. Prices in the borough were off 8 percent compared to last year, but neighborhoods were affected differently. According to HMS, prices were up in Greenpoint, Carroll Gardens and Sunset Park, while Brooklyn Heights, Sheepshead Bay and Fort Greene saw prices drop. “For two years, sales volume has dropped, but prices have not,” said Sam Heskel, executive vice president of HMS. “Now … prices are falling into line with the reality of diminished sales volume.”

Read more at Brownstoner.