Corcoran: Prices Generally Up in Q1

Corcoran just released its First Quarter Report for this year and the news is good: Median apartment prices were up nine percent over both the first and fourth quarters of last year. The resale market was quite strong, up 17 percent over a year ago, while prices at new developments fell off 11 percent over the same time period. (Average price per square foot at new developments fell from $712 in the first quarter of 2009 to $611 in the first quarter of 2010.) The townhouse data was a little wacky: Single-family prices were down more than 30 percent between Q4 and Q1 while two-, three- and four-families were up by almost the same amount. (Data sample issue perhaps?) Another bullish measure: The number of million-dollar sales in Brooklyn rose over 2009 levels.
Feb 13, 2012 | 10:33 AM