Northern Brooklyn real estate is red hot.
The price of a square foot of property in Williamsburg has grown by an incredible 174 percent in the past eight years — more than any other neighborhood in the gentrifying borough.
In 2004, the average price per square foot in the hipster-turned-yuppie stronghold was $269.
As of September 2012, that had increased to $736, according to a map created by Property Shark.
In all, 22 Brooklyn neighborhoods saw an increase of 25 percent or more, most of them in the northern part of the borough.
The southernmost neighborhood with a big increase was Coney Island, at 25 percent — but that figure was calculated before Hurricane Sandy wreaked havoc.
Borough President Marty Markowitz admitted that northern Brooklyn’s proximity to Manhattan was a factor in the price surge.
“It has been traditional that neighborhoods closer to Manhattan have higher property values because it takes residents less time to get to work,” he said.
“It’s also important that people aren’t priced out of living in Brooklyn,” Markowitz added.
The most surprising increase came in Gowanus, where prices along the toxic canal — which overflowed during Sandy — saw the third sharpest increase.
A square foot there jumped 52 percent — to $668.
Coming in second was Prospect-Lefferts Gardens with its 63 percent price growth, outpacing trendy neighborhoods like Park Slope and Prospect Park South.
Real-estate experts said the map shows the effect of the city rezoning the neglected north waterfront in 2004, allowing developers to build high-rises there.
“Clearly, the rezoning has had an impact,” said Mike Slattery, senior vice president at the Real Estate Board of New York. “There wasn’t a lot of housing there to begin with. It was industrial.”
He expects neighborhoods like Bushwick and Red Hook to be on the upswing in the next few years.
In eastern Brooklyn, the price per square foot mostly lost value — and southern Brooklyn has been relatively flat.
Slattery said the insatiable demand for apartments rather than single-family homes may explain why southern and eastern Brooklyn have lagged.
Residences in Cypress Hills saw the sharpest plunge — from $209 to $147 a square foot, a 30 percent drop.
Prices in East Flatbush dropped 22 percent, from $214 to $167, and Mill Basin homes 21 percent.
In southern Brooklyn neighborhoods like Dyker Heights and Bensonhurst, home values increased only 6 percent — respectable but not as stratospheric as other parts of the borough.
Markowitz said the drop in property values in some neighborhoods — especially Fort Hamilton, which decreased 19 percent — left him scratching his head.