Brooklyn attracts record number of home buyers in 2020
With the long term effects of the pandemic here to stay for a while, New Yorkers are increasingly opting into home buying. Brooklyn saw an increase in residential sales during the last quarter of 2020, according to StreetEasy’s 2020 Market Report, up 30.3% from 2019.
Although StreetEasy reported the uptick in sales for the final months of the year, overall, they say, 2020 as a whole saw slow sales movement and low numbers, clocking in at only 10,751 going into contract compared to 2019’s 21, 410 during the same time for the city as whole.
Bill O’Brien has worked in Brooklyn for over 30 years. As a local commercial realtor, he has noticed the surge in specific residential sales and the fall of others. “What I hear, anecdotally, is that some of those one family house sales have blossomed” O’Brien says. “People are looking to get out of multi story apartment buildings and condos.”