What to Expect from the Brooklyn Real Estate Market in 2022

Updated: 6 days ago

Last year, the Brooklyn real estate market proved to be particularly strong, even rivaling Manhattan in terms of sales and competition. Closings in the borough rose 35% from the year before, with year-end apartment sales exceeding their record-high numbers from Q4 2020.

“It reached new records for both sales and prices,” said Gregory Heym, Brown Harris Steven’s chief economist. “And demand for townhouses was also very strong, as those prices also hit a new high.”

While outlooks for the Brooklyn market in 2022 are generally bright, some factors remain unpredictable.

Brooklyn Real Estate Market in 2022