Elliman 3Q Report: Mixed Results
Both average and median sales prices in Brooklyn ticked down overall last quarter, according to the Prudential Douglas Elliman report that dropped this morning, but the big number was the decline in the number of sales from the previous year from 3,718 to 2,298. (Inventory has also trended down.) Average price per square foot actually…
Both average and median sales prices in Brooklyn ticked down overall last quarter, according to the Prudential Douglas Elliman report that dropped this morning, but the big number was the decline in the number of sales from the previous year from 3,718 to 2,298. (Inventory has also trended down.) Average price per square foot actually rose slightly year-over-year for both new developments and resales but fell just over 5 percent from the 2nd to 3rd quarters. Co-ops were a bright spot, rising in both price and number of transactions. Williamsburg and Greenpoint also put up good numbers. One- and two-family houses in Brownstone Brooklyn did pretty well too, with average and median sales prices as well as price-per-square-foot measurements all trending up. For details, check out the full report.
Brooklyn Home Prices Drop as Banks Cut Jobs and Curb Lending [Bloomberg]
Who says they don’t? You’re not giving Brooklyn enough credit. There are plenty of wealthy people who find it desirable.
I don’t think anyone is freaking out, as I understand it in those with incomes 250K to 500K, Obama is leading McCain. But house prices are still detrmined by income and demand though aren’t they? And as for the very wealthy – they don’t buy in Brooklyn, so how do they factor in?
Dittoburg, you need to examine what defines a “chunk” for some people.
I have a few friends for whom a “chunk” isn’t really heart stopping. I was at an event with one a few weeks ago and we did touch on politics and when the tax issue came up he just shrugged and said, “Ehh, what are you gonna do? Someone has to pay for this sh*t”. He’s not too concerned and I’m sure he’s not the only one. This is NYC we have very wealthy people here. Not rich, truly wealthy. Wealthy people are not freaking out. Rich people maybe, but not the wealthy.
Liz Cho is the hottest
I’m guessing a 5% drop in Brooklyn “prime”.
Inventory tight mean values stay.
Sorry, no “hottest newsreader” list is complete without Melissa Theuriau…
http://www.youtube.com/watch?v=mlX6kc8Twlk
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dittoburg = dittohead