According to a new report from REBNY, the Real Estate Board of New York, Brookly continues to be a home-buying alternative for Manhattan.

Though the median apartment price in Brooklyn has seen a 6 percent rise from 2005 through 2006, it still remains below Manhattan prices. According to an appraisal by Miller Samuel, the median apartment prices remained at less than half of a Manhattan apartment at the end of 2006. Brooklyn apartments were $343,000, Manhattan apartments, $799,000. Even the median price for one, two and three family homes remained below Manhattan's prices, averaging $570,000, good luck finding a townhouse in Manhattan for that price!

The REBNY report, using data compiled from a variety of brokerage firms and city government sources, showed that Brooklyn apartments, townhouses and multi family dwellings sales prices had solid gains in 2006.

Individual neighborhoods in Brooklyn saw dramatic surges in median home prices as well as price per square foot. Carroll Gardens saw a 12 percent increase in the average home sales price as well as a 32 percent increase in the average price per square foot for a co-op.

The DUMBO/Fulton Ferry neighborhood reported the highest average sale price of a condominium at $1,053,000. Brooklyn Heights maintained the highest average price per square foot for a condominium at $914 for 2006.

To read highlights from the report, please go here.