Douglas Elliman Q1 Report: Down and Downer
Not surprisingly, prices and volume in Brooklyn were both down in the first quarter of 2009 versus both the Q4 and Q1 2008, according to the latest market report from Douglas Elliman. The median sales price fell to $474,600 from $490,000 in the prior quarter and $527,000 a year earlier. Likewise, the number of transactions…
Not surprisingly, prices and volume in Brooklyn were both down in the first quarter of 2009 versus both the Q4 and Q1 2008, according to the latest market report from Douglas Elliman. The median sales price fell to $474,600 from $490,000 in the prior quarter and $527,000 a year earlier. Likewise, the number of transactions was 1,186, down from 1,846 in the fourth quarter and 2,761 in the first quarter of 2008. The median price declines were consistent across all property types: Condos (-8.6%), Co-ops (-11.4%), 1-3 Family (-10.6%), Luxury (-9.2%). East Brooklyn was by far the hardest hit, with median prices plummeting 25% year-over-year. Townhouses in Northwest Brooklyn fared pretty badly, too, with median prices falling to $1,087,500 from $1,287,500 in the fourth quarter and $1,200,000 a year earlier.
Market Reports [Douglas Elliman]
wasder…I’ts not the “pole smoker” but imagine how the What would react if I called him “knuckle dragging.” It’s not even code, its out and out racist if directed at him.
He pulls this “Asshat gentrifiers forcing the nice folk out of Brooklyn ” schtick all the time and its nothing other than racism.
What…until you get back on the meds I’m done with you.
And, nobody else here is as insane as I am to engage you anyway.
Take your toys and go back to NJ.
DIBS just said to the What:
You’ve lost the ability to discuss something in a civil manner.
I haven’t laughed this hard since I first read the What using the term Asshat. When did the What ever discuss anything in a “civil manner”???!!! You’ve got to be kidding me. And you’re stupid enough to engage him??!! What the hell does that say about you, (or me, for engaging you I guess.)
> “I won’t get “boiled to death” in this market, Snark. ”
I know you’ve done well in real estate over the years, DIBS, but that wasn’t really the point. The point is all of your denial about prices ever dropping 50%, while every month, a few more of those percentage points get added to the drop.
Agreed that anyone calling anyone else a pole smoker is over the line.
Your the jackass always going on about Asshat gentrifiers “pushing” people out. THAT’S TOTALL YOUR SCHTICK, BUDDY.
Two questions:
How many moving vans were ther in bed Stuy over the weekend?? How’d you know they were moving to Manhattan? THIS IS ONE OF TEHS TUPIDEST STEMENTS YOU’VE EVER MADE.
Secondly, how would you feel if I referred to you as a knuckle dragging pole smoker?? Would that knuckle draging thang bother you?? I bet it would. I bet you’d go FU&&ING BALLISTIC.
You’re a two faced hypocrite, thats what you are. You’ve lost the ability to discuss something in a civil manner.
wasder, thanks for that. Let’s discuss it further in the Open Thread.
“What would be nice to see is in the last downturn (89-94) how did the rental market perform?”
It went down. I read a NYT article back then (circa ’95?) where a Carrol Gardens broker claimed that people were buying fixer uppers again and threw out rental numbers showing how they dipped significantly and were finally recovering. I have to find it and post it. Too busy right now. Got money to get.
That’s the thing. Prices were already hemhoraging. But since they depend on rents, which are now falling, and interest rates, which will soon rise, it’s a downward spiral that feeds on itself.
My God! It’s getting lonely over there at Team Bull. It’s not even a team anymore (even brownstoner himself is making the transition – how ’bout that photo above, “Aaaaahhhhhhh!!!”). It’s just DIBS.
***Bid half off peak comps***
Speaking of Outpost I spoke with one of the owners and they are very amenable to having the next Brownstoner gathering. Though rather than waiting til November it might be good to do it in the summer time so that we can take advantage of the sweet backyard/garden set up they have.