Brooklyn home sales, prices down in 2009

Brooklyn home sales, prices down in 2009

January 06, 2010 06:30PM

Sam Heskel, founder of HMS

In its 2009 annual market report, Brooklyn-based real estate appraisal company HMS Associates, found that the number of home sales and prices slipped in 2009 (see full report below). Residential sales dropped about 26 percent in 2009 from a year earlier while prices sunk approximately 9 percent, the report says. There were 2,906 sales in 2009 with an average price of $607,948 compared to 3,915 deals in 2008 with an average price of $667,773. "Although [we] experienced a slight increase in both average sales prices and overall volume in the third quarter of 2009, the numbers have reversed direction in the fourth quarter. That means that we will have a bumpy road ahead on the way to a full market recovery," said Sam Heskel, executive vice president at HMS. The company uses city records to analyze the sale of one- through four-family homes, condos and co-ops in 15 Brooklyn neighborhoods. TRD