With prices skyrocketing in Manhattan, New Yorkers are looking to the outer boroughs to buy homes, according to numbers released Thursday by the Real Estate Board of New York.
Sales activity grew in the second quarter of 2014 in Brooklyn and Queens, the report showed.
The average sales price for one-to-three- family homes in Brooklyn grew 21%, and the amount of homes sold went up 18%. Similarly, sales prices in Queens rose 6% and the number of homes sold increased by 9%.
The activity is reflected in overall city numbers, as the total amount of homes sold in the five boroughs in the second quarter was 10,722, according to REBNY, a 2% increase from the same period in 2013.
“The increasing confidence of single family home buyers in the economy, the affordability of houses, and the continuing desirability of the boroughs as places to live and raise a family have had an impact on the growth of residential sales activity throughout the city,” REBNY president Steven Spinola said in a statement.
“The large jump in the average sales price and volume for these properties is a strong, positive sign for the city’s economy.”
The most second-quarter Brooklyn homes were sold in Bedford Stuyvesant, according to the report, at 211. The most homes in Queens were sold in Rego Park/Kew Gardens/Forest Hills at 361.