Elliman Q4 Report: Prices Down, Sales Up
Although Brooklyn real estate prices continued to decline in the fourth quarter, the number of sales increased for the third quarter in a row while the average time on the market fell, according to the latest report prepared by Miller Samuel for Prudential Douglas Elliman. Overall, median sales price fell 8.7% to $447,174 from $490,000…
Although Brooklyn real estate prices continued to decline in the fourth quarter, the number of sales increased for the third quarter in a row while the average time on the market fell, according to the latest report prepared by Miller Samuel for Prudential Douglas Elliman. Overall, median sales price fell 8.7% to $447,174 from $490,000 in the prior year quarter and fell 6.1% from $476,000 in the prior quarter. Co-op prices ticked up slightly while condos and 1-3 family homes were down 8.8 percent and 10.1 percent, respectively. More notably, perhaps, the luxury end of the market (defined as the top 10 percent of sales) was off 23.7 percent. (Ouch!) South Brooklyn held up much better than Northwest and Brownstone Brooklyn.
hannible was the one advocating violence towards his landlord the other day, and; saying that he’d stop paying his rent, file for bankruptcy and then get free housing.
The sense of entitlement that the lower classes have about feeding at the teat of the government and those who pay taxes is truly outrageous.
Further proof of disconnect between “economy” and “stock market” (the latter being the indicator that most owners glance at before drinking DIBS’ kool-aid and putting their properties in the market): Today. Gov’ hints that they may turn off the spigot on the banks a bit, regulate a bit, and give Volcker a bit more of a voice, market crashes, with lotsa speculative billions fleeing, but dollar strengthens.
BHO has such a very interesting mix of empty rhetoric and hard data. Quite fascinating.
It’s like telling a virgin what sex feels like, ain’t it Dave?
They really have no clue.
This is not “capitulation.”
If you’ve ever owned anything like a stock where there was capitualation you might know what it feels like.
This IS NOT capitualation.
Hannible was dead on by telling someone who owns 4 homes (most of which sound like they are paid off) to file for bankruptcy even though he (DIBS) can afford the payments and has no intention to leave??
You aligning with hannible, BHO just shot any last shred of integrity you had. Which was already zero in my book.
Ledbury,
I, too, would have guessed — by the tone of this website — that bklyn prices would have stabilized. Or, perhaps increased. This website is fun and thought-provoking… and offers one more way in which I can be deceived.
“The uptick is sales is a good indicator that people are starting to pull the trigger.”
Yeah, the SELL trigger. Volume peaks twice in a cycle, right before the top and right before the bottom. The latter is called capitulation. There’s also a shrinking supply of credit. The overburdened bank (losses hidden but not erased) has to approve your overpriced preference. That’s substantive like a muthafuckah.
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“Sad really. They remind me of losers that stalk Hollywood actresses. :)”
Hannible was dead on @ 11:23.
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