Elliman: Brooklyn Market Improved in 2nd Quarter But...
Sales volume in Brooklyn leapt 20.4 percent between the first quarter and second quarter of 2009 and the median price of co-ops and condos ticked up 2.9 percent, according to a report out this morning from Prudential Douglas Elliman. “It suggests there was pent-up demand from unusually low activity,” said Jonathan Miller, CEO of real…
Sales volume in Brooklyn leapt 20.4 percent between the first quarter and second quarter of 2009 and the median price of co-ops and condos ticked up 2.9 percent, according to a report out this morning from Prudential Douglas Elliman. “It suggests there was pent-up demand from unusually low activity,” said Jonathan Miller, CEO of real estate appraiser Miller Samuel, which compiled the report for Prudential Douglas Elliman. Before everyone breaks out the champagne and declares the real estate market in recovery, though, the report also notes that volume was off 29.7 percent versus a year earlier. Prices were also down dramatically from a year earlier; for example, the average price of a one- to three-family home in Brownstone Brooklyn fell 15.9 percent. “Unemployment is still rising, credit has not loosened and we still have a very weak economic environment,” Miller said. Click on chart above for larger view.
Brooklyn Market Overview 2Q 2009 [Elliman]
Home sales in Brooklyn, Queens rise as prices tumble [NY Daily News]
Glimmer of Hope for Brooklyn Market [NY Post]
Nothing but reruns on this channel.
zzzzzzzz.
BHO: (( She implied that you can just wait it out and we’ll be back up to the recent peak. ))
Actually, I wasn’t implying that at all. I was saying that the only financial metric that matters, to me anyway, is the total cost to own vs. the total cost to rent.
dibs, do you expect inflation to propel prices past the peak? If so, when do you think this will happen?
So why is it that you can’t tickle yourself?
As Pete points out in the Sales Under A Million thread, the Bed Stuy house sold at around $400 psf, not your figure of $200, brickoven. That’s MORE than what i paid for my place in “Stuyvesant heights”
Please, dazzle us with more bull$hit numbers that you pull out of your ass.
This blog sucks without WHAT.
“asshole”
I win!
***Bid half off peak comps***
“Nobody disputing what Kris is saying”
I just did. She implied that you can just wait it out and we’ll be back up to the recent peak. Given your anology of tech stocks, you don’t agree with that either.
I only agree that ownership affords you more control of quality. But that’s not a vote of confidence that the best price can be had now.
***Bid half of peak comps***
You’ll never see 2008 prices in 2008 dollars again in your lifetime.
***Bid half off peak comps***
Posted by: Brownstones Half Off at July 16, 2009 11:34 AM
This is the type of certainty that dominates the Team Bear thinking. People with half a brain see it for its ridiculousness and it lessens your credibility to argue logically making you seem like, well, just an asshole that likes to argue.