Brooklyn has always had a way of staying ahead of the curve. As someone who’s been deeply involved in New York City real estate for years, I can say with confidence: what we’re seeing right now isn’t a spike—it’s a continuation of a long, steady climb that reflects the borough’s lasting value.
In the first quarter of 2025, Brooklyn’s median home sale price reached a record-breaking $995,000, marking a 4.7% increase from the same time last year. Even more impressively, the average home price hit $1,281,704, up 7.7% year-over-year, according to Douglas Elliman’s latest market report.
But here’s what really caught my attention: despite these rising prices, sales volume is also increasing. That’s a clear signal of strong buyer confidence in Brooklyn’s market, and it tells me we’re in a unique moment where high demand continues to meet rising values.
Brooklyn on the Rise: Buyers Are Still Showing Up—And That’s the Real Story
We’ve come to expect Brooklyn to outperform most markets, but even seasoned professionals are impressed when prices rise and transactions climb simultaneously. In many cities, higher prices tend to cool demand. But in Brooklyn, the opposite seems to be happening.
At Duke Properties, we’ve seen this trend firsthand. Buyers are entering the market with a strong appetite, and even with fewer discounts and tighter margins, they’re still closing deals. This isn’t speculation-driven behavior—it’s a reflection of Brooklyn’s deep-rooted desirability, both as a place to live and to invest.
Ten Years of Near-Constant Growth
Jonathan Miller, who authored the Elliman report, made an interesting point: in the last 10 years, 32 out of 40 quarters have ranked in the top three all-time for median home prices in Brooklyn. That kind of consistency is rare, and it speaks volumes about the borough’s staying power.
Brooklyn on the Rise- The market has weathered rising interest rates, inflation concerns, and a pandemic—and yet, Brooklyn continues to thrive. Even the slight price sag seen in some brownstone sales hasn’t slowed momentum. In fact, the number of brownstone sales increased significantly in Q1 compared to the same period in 2024.
Brooklyn Is More Than a Market—It’s a Movement
People aren’t just buying property in Brooklyn; they’re buying into a lifestyle, a neighborhood identity, a sense of permanence. Whether it’s a young couple looking for their first home in Bed-Stuy or an investor eyeing long-term appreciation in Park Slope, the motivations are built on real value—not hype.
And that’s what keeps prices high and activity strong. Buyers know what they’re getting in Brooklyn: walkable blocks, historic architecture, vibrant local economies, and access to the best parts of urban living.
From Pandemic Recovery to Long-Term Strength
Remember 2020? Brooklyn certainly does. Back then, we were uncertain how the real estate market would bounce back. Fast forward five years, and we’re looking at a 24% increase in median prices since the first quarter of 2020. That’s not just recovery—that’s sustainable growth.
At Duke Properties, we’ve adapted alongside the market. We’ve helped clients navigate through the lows and find opportunity in the highs. And what we’re seeing now is that Brooklyn has emerged stronger, more stable, and more attractive than ever.
Brooklyn on the Rise: Final Thoughts
It’s easy to look at the headlines—record prices, fast sales—and assume it’s just another bubble. But for those of us on the ground, working with buyers, sellers, and investors every day, we know better. Brooklyn is not a fluke. It’s a model.
The Q1 2025 numbers aren’t just impressive—they’re a testament to the borough’s long-term value and the confidence people have in its future.
If you’ve been waiting for a signal that Brooklyn real estate is still one of the smartest investments in New York City—this is it.— Albert Dweck
Founder & CEO, Duke Properties