February was another strong month for Brooklyn. More sales of smaller units,and at higher price points, applied upward pressure on prices leading to a 34% increase in price per square foot year over-year. For the first time since April 2014, Brooklyn posted double digit year-over-year price per square foot increases for all four bedroom types. Sales also increased this month, as Brooklyn had a 59% growth in contracts signed versus February 2014. While all of this is great news for sellers, there is a silver lining for buyers: only 40% of buyers paid above asking price in February, compared to 55% of buyers a year ago.
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