Elliman: Brownstones Kick Ass in Q1
Unlike the commercial numbers we saw yesterday, the residential real estate market in Brooklyn perked up in the first quarter of 2010, according to a report released today by Miller Samuel for Douglas Elliman. “The modest decline of inventory and a return to a higher level of sales activity helped stabilize prices across most markets,”…
Unlike the commercial numbers we saw yesterday, the residential real estate market in Brooklyn perked up in the first quarter of 2010, according to a report released today by Miller Samuel for Douglas Elliman. “The modest decline of inventory and a return to a higher level of sales activity helped stabilize prices across most markets,” said the report. “These trends combined with the sharp decline in days on market and listing discount suggests that the consumer is bypassing properties that are not priced close to market levels. The median and average sales prices across all property types ticked up 4.2% and 7.5% from the fourth quarter, but both were down slightly from the first quarter of 2009. The number of sales increased year-over-year from 1,186 to 1,861 and the days on market decreased from 142 to 114. House sales in Brownstone Brooklyn saw the most price improvement, with the median sales price rising 15% from $1,087,500 to $1,250,000. Bring it!
joe–there are some who really believe, bull and bear, that what they say here can effect prices. Its called extreme sense of self importance.
checked BHS for same area as Corcoran….CobHill, Bohill,CarGard….
about 10 listings but for under $2m – one with SRO status and other needing work but large seemed ok price.
You do get a choice when your price point is closer to $3m though.
It is hard to talk these Q1 numbers down by those on here who believe they can have an effect on their hopeful future purchases.
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Anybody who thinks they can talk the price of Real Estate up or down by commenting on a message board has lost their marbles. It is fun to argue though!!
He will be around. This kind of thread is like catnip for him.
Has anyone seen BHO this morning?
m4l–you have carte blanche from me to throw around the “F” word. Just don’t be surprised when some of these properties on Downing and Irving sell for solid prices.
Unlike some other lurkers on this site, I am not an idealogue.
These numbers are strong, no doubt about. Congragulations to Team Bull today.
I still think the condo market is dead due to present and future supply.
The number of defaulting loans keeps rising (as per Realty Trac yesterday) but until the banks do something about it, Brownstone prices can be stable or even go up. In the Brownstone market there is little to nothing available so if you want a good one, and it is priced fairly, you have little choice, at least for the moment.
It is hard to talk these Q1 numbers down by those on here who believe they can have an effect on their hopeful future purchases.
sebb, don’t get so upset.