Carroll Gardens, Boerum Hill See Huge Home Price Increase

Real estate in New York has always been a fickle thing — but the clouds might be starting to recede, particularly for homeowners in Brooklyn, according to the Real Estate Board of New York.

In a report released this week, the board examined New York City neighborhood by neighborhood, and found a 21 percent increase in home sales volume in the second quarter of 2013, compared to the previous three months. 

Average home prices also increased by six percent — hitting just under $650,000, 

Brooklyn led the way in both categories, seeing an eight percent overall increase in home sale price — hitting just under $650,000 — and a 29 percent increase in sales of one-to-three family homes. 

Steven Spinola, president of the Real Estate Board, said prices are likely to continue their climb, particularly in hot areas like Brooklyn.

“It remains to be seen what impact rising mortgage rates will have on sales activity going forward," Spinola said. "But the market overall is seeing steady gains and we anticipate the trend will continue.” 

In Boerum Hill and Carroll Gardens, the average home price has ballooned to a massive $1.32 million and $1.02 million, respectively. Those prices, as noted earlier this year, represent some of the highest in the city, and certainly among the most expensive in the borough. 

The jump in sale prices in Boerum Hill was a whopping 24 percent over 2012, while Carroll Gardens actually saw an even larger increase of 28 percent over 2013, the Real Estate Board said.