Open House Picks: Six Months Later
Comment: Are these sellers living in some other planet? Open House Picks 4/3/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Are these sellers living in some other planet?
Open House Picks 4/3/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Brownstoner, the Bed Stuy house is in contract. It says so on the listing.
im still trying to digest bho data dump, back to him in a minute.
however, 11217, i know you read yesterday’s hotd bc you had a hissy fit with ml, but apparently you skipped over the defects of the one $375k listing referred to: 1) next to massive new construction, 2) need major reno, 3) on very edge of bh (and practically on court st), just to name 3.
it’s quite possible the same house without those 3 defects would sell for a buck.
BHO,
You have ZERO facts to give us that Brooklyn Heights brownstones averaged 300K in 1995, and I’ve given you more than a few to illustrate that they were much closer to a million dollars.
As have other people here who are familiar with prices at that time.
“So we’re not hitting your exact 300K number in 1995, 11217. But we’re in a very small ballpark.”
300K and 1 million are not in the same ballpark.
That third column should read “FROM BOTTOM OR PEAK”.
***Bid half off peak comps***
So we’re not hitting your exact 300K number in 1995, 11217. But we’re in a very small ballpark. Average prices everywhere were well under a million when wages were not that much lower than they are today. Today, they want 3 million plus in Brooklyn Heights. You can only get us on Vernier Caliper details but not the gist.
***Bid half off peak comps***
‘dope,
Look at Jan 92 as an example.
MONTH, READING, FROM PEAK, YOY, REMARK
Apr-91 72.29 -15.49% -8.89% ACTUAL BOTTOM
May-91 72.63 0.47% -8.12%
Jun-91 73.50 1.67% -6.91%
Jul-91 74.39 2.90% -5.57%
Aug-91 74.90 3.61% -4.23%
Sep-91 75.06 3.83% -3.04%
Oct-91 75.01 3.76% -2.33%
Nov-91 74.84 3.53% -1.71%
Dec-91 74.74 3.39% -1.14%
Jan-92 74.59 3.18% 0.00% BOTTOM PICK
Feb-92 74.38 2.89% 0.94%
Mar-92 74.27 2.74% 1.92%
Apr-92 74.40 2.92% 2.92%
May-92 74.69 3.32% 2.84%
Jun-92 75.14 3.94% 2.23%
Jul-92 75.47 4.40% 1.45%
Aug-92 75.79 4.84% 1.19%
Sep-92 75.74 4.77% 0.91%
Oct-92 75.48 4.41% 0.63%
Nov-92 75.38 4.27% 0.72%
Dec-92 75.35 4.23% 0.82%
Jan-93 75.54 4.50% 1.27%
Feb-93 75.42 4.33% 1.40%
Mar-93 75.32 4.19% 1.41%
Apr-93 75.34 4.22% 1.26%
May-93 75.71 4.73% 1.37%
Jun-93 76.44 5.74% 1.73%
Jul-93 76.84 6.29% 1.82%
Aug-93 76.99 6.50% 1.58%
Sep-93 76.99 6.50% 1.65%
Oct-93 76.92 6.40% 1.91%
Nov-93 76.88 6.35% 1.99%
Dec-93 76.71 6.11% 1.80%
Jan-94 76.61 5.98% 1.42%
Feb-94 76.43 5.73% 1.34%
Mar-94 76.60 5.96% 1.70%
Apr-94 76.88 6.35% 2.04%
May-94 77.55 7.28% 2.43%
Jun-94 78.20 8.18% 2.30%
Jul-94 78.78 8.98% 2.52%
Aug-94 79.08 9.39% 2.71%
Sep-94 79.08 9.39% 2.71%
Oct-94 78.87 9.10% 2.54%
Nov-94 78.50 8.59% 2.11%
Dec-94 78.36 8.40% 2.15%
Jan-95 78.28 8.29% 2.18%
Feb-95 78.29 8.30% 2.43%
Mar-95 77.95 7.83% 1.76%
Apr-95 77.77 7.58% 1.16%
May-95 78.03 7.94% 0.62%
Jun-95 78.58 8.70% 0.49%
Jul-95 78.99 9.27% 0.27%
Aug-95 79.17 9.52% 0.11%
Sep-95 79.17 9.52% 0.11%
Oct-95 79.11 9.43% 0.30%
Nov-95 78.85 9.07% 0.45%
Dec-95 78.70 8.87% 0.43%
Jan-96 78.63 8.77% 0.45%
Feb-96 78.73 8.91% 0.56%
Mar-96 78.90 9.14% 1.22%
Apr-96 78.94 9.20% 1.50%
May-96 79.36 9.78% 1.70%
Jun-96 79.52 10.00% 1.20%
Jul-96 79.97 10.62% 1.24%
Aug-96 80.31 11.09% 1.44%
Sep-96 80.45 11.29% 1.62%
Oct-96 80.35 11.15% 1.57%
Nov-96 80.02 10.69% 1.48%
Dec-96 80.03 10.71% 1.69%
Jan-97 80.08 10.78% 1.84%
Feb-97 80.08 10.78% 1.71%
Mar-97 79.97 10.62% 1.36%
Apr-97 80.03 10.71% 1.38%
May-97 80.53 11.40% 1.47%
Jun-97 81.53 12.78% 2.53%
Jul-97 82.32 13.87% 2.94%
Aug-97 82.72 14.43% 3.00%
Sep-97 82.80 14.54% 2.92%
Oct-97 82.84 14.59% 3.10%
Nov-97 82.94 14.73% 3.65%
Dec-97 83.11 14.97% 3.85%
Jan-98 83.36 15.31% 4.10%
Feb-98 83.85 15.99% 4.71%
Mar-98 84.28 16.59% 5.39%
Apr-98 84.76 17.25% 5.91%
May-98 85.52 18.30% 6.20%
Jun-98 86.58 19.77% 6.19%
Jul-98 87.70 21.32% 6.54%
Aug-98 88.48 22.40% 6.96%
Sep-98 89.04 23.17% 7.54%
Oct-98 89.31 23.54% 7.81%
Nov-98 89.41 23.68% 7.80%
Dec-98 89.43 23.71% 7.60%
Jan-99 89.49 23.79% 7.35%
Feb-99 89.89 24.35% 7.20%
Mar-99 90.56 25.27% 7.45%
Apr-99 91.59 26.70% 8.06%
May-99 92.49 27.94% 8.15%
Jun-99 94.07 30.13% 8.65%
Jul-99 95.47 32.07% 8.86%
Aug-99 96.88 34.02% 9.49%
Sep-99 97.67 35.11% 9.69%
Oct-99 98.24 35.90% 10.00%
Nov-99 98.59 36.38% 10.27%
Dec-99 99.28 37.34% 11.01%
Jan-00 100.00 38.33% 11.74%
Feb-00 100.54 39.08% 11.85%
Mar-00 101.27 40.09% 11.83%
Apr-00 102.41 41.67% 11.81%
May-00 104.35 44.35% 12.82%
Jun-00 106.00 46.63% 12.68%
Jul-00 107.52 48.73% 12.62%
Aug-00 108.90 50.64% 12.41%
Sep-00 109.76 51.83% 12.38%
Oct-00 110.51 52.87% 12.49%
Nov-00 110.89 53.40% 12.48%
Dec-00 111.87 54.75% 12.68%
Jan-01 112.66 55.84% 12.66%
Feb-01 113.51 57.02% 12.90%
Mar-01 114.48 58.36% 13.04%
Apr-01 115.60 59.91% 12.88%
May-01 116.38 60.99% 11.53%
Jun-01 117.90 63.09% 11.23%
Jul-01 119.66 65.53% 11.29%
Aug-01 121.41 67.95% 11.49%
Sep-01 122.91 70.02% 11.98%
Oct-01 123.86 71.34% 12.08%
Nov-01 124.74 72.55% 12.49%
Dec-01 124.72 72.53% 11.49%
Jan-02 125.19 73.18% 11.12%
Feb-02 125.40 73.47% 10.47%
Mar-02 126.50 74.99% 10.50%
Apr-02 127.93 76.97% 10.67%
May-02 129.89 79.68% 11.61%
Jun-02 132.20 82.87% 12.13%
Jul-02 135.18 87.00% 12.97%
Aug-02 137.74 90.54% 13.45%
Sep-02 139.69 93.24% 13.65%
Oct-02 141.58 95.85% 14.31%
Nov-02 143.29 98.22% 14.87%
Dec-02 145.20 100.86% 16.42%
Jan-03 146.55 102.73% 17.06%
Feb-03 147.30 103.76% 17.46%
Mar-03 148.38 105.26% 17.30%
Apr-03 149.53 106.85% 16.88%
May-03 150.88 108.71% 16.16%
Jun-03 151.86 110.07% 14.87%
Jul-03 153.50 112.34% 13.55%
Aug-03 155.14 114.61% 12.63%
Sep-03 157.10 117.32% 12.46%
Oct-03 158.73 119.57% 12.11%
Nov-03 160.59 122.15% 12.07%
Dec-03 162.31 124.53% 11.78%
Jan-04 163.63 126.35% 11.65%
Feb-04 164.92 128.14% 11.96%
Mar-04 166.61 130.47% 12.29%
Apr-04 168.30 132.81% 12.55%
May-04 170.52 135.88% 13.02%
Jun-04 172.90 139.18% 13.85%
Jul-04 175.74 143.10% 14.49%
Aug-04 177.93 146.13% 14.69%
Sep-04 179.79 148.71% 14.44%
Oct-04 181.90 151.63% 14.60%
Nov-04 183.69 154.10% 14.38%
Dec-04 185.16 156.14% 14.08%
Jan-05 187.19 158.94% 14.40%
Feb-05 189.29 161.85% 14.78%
Mar-05 192.17 165.83% 15.34%
Apr-05 194.10 168.50% 15.33%
May-05 195.96 171.07% 14.92%
Jun-05 197.77 173.58% 14.38%
Jul-05 199.86 176.47% 13.72%
Aug-05 202.33 179.89% 13.71%
Sep-05 204.83 183.34% 13.93%
Oct-05 207.64 187.23% 14.15%
Nov-05 210.30 190.91% 14.49%
Dec-05 212.68 194.20% 14.86%
Jan-06 213.50 195.34% 14.06%
Feb-06 214.47 196.68% 13.30%
Mar-06 214.33 196.49% 11.53%
Apr-06 214.97 197.37% 10.75%
May-06 215.57 198.20% 10.01%
Jun-06 215.83 PEAK ACTUAL PEAK
Jul-06 215.25 -0.27% 7.70%
Aug-06 214.34 -0.69% 5.94%
Sep-06 214.09 -0.81% 4.52%
Oct-06 214.29 -0.71% 3.20%
Nov-06 214.24 -0.74% 1.87%
Dec-06 213.79 -0.95% 0.52%
Jan-07 212.78 -1.41% -0.34% PEAK PICK
YOY (last column) = year over year = change from same month last year. It’s a mathematical equation: (P2 – P1)/P2 X 100%. Yes, it’s backward looking but only by several months (9 and 7, respectively in the trough and peak of the data above). Whenever it approches zero the market turns. A nine month error in a stabilizing RE market is pretty damn good (look how much time you would have had to jump in before prices went out of control)! Why do you keep saying “12 months”? Yeah, there’s 12 months in a year but it’s the month-to-month behavior of YOY that matters, however long it takes.
***Bid half off peak comps***
Antidope:
Please see BrooklynGreene’s post for even more anecdotes.
I never claimed that prices have not doubled, but I AM claiming that the average Brooklyn Heights townhouse did not sell for 300K in 1995. That’s it.
11217,
a cursory glance shows two th on market for mid to upper $5 mio; one in contract with asks in mid $4 mio.
no carriage houses.
add 10% for market drop (conservative) and you will see that the market has more than doubled in this time.
and we are not necessarily talking about the highest sales ever. maybe ringo or ml can pipe in.
for someone that claims to rely on data, you seem to prefer anecdotal notes.