Housing prices were up one percent last quarter in Cobble Hill, the only Brooklyn neighborhood to see an increase. Across Brooklyn, the average housing price fell 18 percent, according to data from HMS Associates, a Brooklyn-based real estate appraisal firm.
While prices may be up, however, Cobble Hill housing sales plummeted 62 percent compared to the same period last year.
The steep decline could be good news for those looking to buy. “If you are able to come up with the financing, there is a lot of inventory out there,” said Sam Heskel, an appraiser.
Cobble Hill’s average housing price is now $933,438, compared to the borough-wide average of $548,560.
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