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Saturday, November 2, 2024

Falling home prices in Brooklyn in the second half of 2020

Realestate2

The median sale price of a home sold in the second half of 2020 in Brooklyn fell by $22,550 while total sales increased by 6.7%, according to BlockShopper.com.

From July through December of 2020, there were 16 homes sold, with a median sale price of $252,450 - a 8.2% decrease over the $275,000 median sale price for the same period of the previous year. There were 15 homes sold in Brooklyn in the second half of 2019.

The median sales tax in Brooklyn for 2020 was $4,976. In 2019, the median sales tax was $4,672. This marks an increase of 6.5%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2%.

The following table compares Brooklyn to other Dane County cities with similar median sale prices in the second half of 2020:

CityJuly - Dec. 2020 Home SalesJuly - Dec. 2019 Home Sales% change (Total Home Sales)July - Dec. 2020 Median Sales PriceJuly - Dec. 2019 Median Sales Price% change (Median Sales Price)
Sun Prairie59051015.7%$286,250$255,50012%
Cambridge38372.7%$285,750$175,00063.3%
Madison3,3433,1476.2%$282,000$265,6006.2%
Mount Horeb1201190.8%$281,250$255,00010.3%
Cross Plains443718.9%$260,000$255,0002%
Brooklyn16156.7%$252,450$275,000-8.2%
Stoughton2061908.4%$242,000$234,4003.2%
Marshall735435.2%$239,500$219,9508.9%
Dane1516-6.3%$230,570$310,000-25.6%
Belleville7625204%$230,000$186,90023.1%
Deerfield48464.3%$221,500$217,7501.7%

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