Elliman: Prices Up, Sales Down in 4th Quarter

Rounding out this morning’s three brokerage firm market reports is one from Prudential Douglas Elliman, the results of which are relatively consistent with the data revealed by Corcoran. The good news from Elliman is that median prices were up 6.2% over the prior year quarter (though they slipped 2.2% versus the third quarter); similarly, average sales prices increased 15.8% year-over-year and declined 1.9% from the prior quarter. Sales volume declined rather dramatically: The number of sales fell 29.9% to 1,468 in the prior year quarter and fell 21.9% in the third quarter; Elliman (or rather Miller Samuel, which prepared the report) attributes the big dip to the expiration of the Federal tax credit and a lack of fresh inventory. Particularly notable: Prices in Northwest Brooklyn rose by double-digit percentages year-over year while those in East Brooklyn declined by almost ten percent. Click here to see the entire report.
May 21, 2012 | 02:16 PM