Report: Investment Sales Mostly Hanging In There
Property Shark recently released its first-quarter investment sales report for 2008, and the numbers for Brooklyn show a market that’s certainly seen better days but isn’t completely tanking. The report tracked the sales of two-, three-, four-, and five-or-more family dwellings/mixed-use properties (so no condos, co-ops or other commercial/industrial buildings). Basically, the worst trend in…

Property Shark recently released its first-quarter investment sales report for 2008, and the numbers for Brooklyn show a market that’s certainly seen better days but isn’t completely tanking. The report tracked the sales of two-, three-, four-, and five-or-more family dwellings/mixed-use properties (so no condos, co-ops or other commercial/industrial buildings). Basically, the worst trend in Brooklyn—and this was true for all the boroughs—is shown in the graph above: There was a 37 percent drop in the number of sales as compared to the first three months of 2007. In fact, every borough did worse than Brooklyn on this score, with Manhattan posting a 49 percent year-over-year decline in sales volume. The median price per square foot and median sale price on investment properties in Brooklyn didn’t change much in recent months or over the past year. The median price per square in the first quarter this year was $237, down 3.6 percent from the same period in 2007, and the median sale price was $665,000, up 2.3 percent from the first quarter in ’07. The only big drops in median prices between 2008 and 2007 were seen in transactions involving large (4-family and bigger) properties. It’d be interesting to know the extent to which big-ticket brownstone sales are keeping us (barely) afloat.
First-Quarter 2008 Investment Sales Report [Property Shark]
Pssst: we can get it for you wholesale (buy in bulk- look how much we saved with just an ark) 🙂
2:51…WOW…..getting way too heavy or way too deep for a thread that’s supposed to be about the Propertyshark Investment Properties Report.
You’re not going to find any investment information in the Old testament, the New Testament or the Koran. Try Graham & Dodd as a starter.
Amen. Halleluja. Love It or Leave It. Live Free or Die. But Low, Sell High. Price Up, Yield Down.
Montrose Morris,
Am I really “waving the flag” for pointing out that our nation is not the root of all evil as some would have us believe? I don’t discredit those who believe there are problems, I discredit those who believe that there have never been problems before and now ascribe everything from “our nation’s wipeout” to hemorrhoids to the current Republican administration, despite the clear evidence that there we are not that bad off, again I refer you to the actual facts about a recession, that is, we are NOT in one.
About healthcare. I work in healthcare everyday. I work with the poor, every day. I have been poor, now I am not. Sure I had many talents that I used to succeed, but so do most of us. Those that don’t are helped, those that have the talents God gave them and choose to wallow in their own victimization, get no sympathy from me. Here’s another secret, most people go through their lives, for the most part, without health issues. Most people from 5-50 have no health issues, in fact.
That’s my philosophy, and guess what? I’m backed up by most people and at least three compendiums of historical knowledge that still survive: The Old Testament, the New Testament and the Koran. And yes, I dared to mention God with a capital G. And Country with a capital C.
11:16
I believe he pulls data from Streeteasy. Click on “Timerange” varibles at top of charts. I think he has it organized in 1-month, 3-mth and 6-mth subsets. Some of the data has yet to be updated to the present. You can see Streeteasy real time data on rightside of page just under his mug shot.
11:39
I really hate the flag waving and strains of “America the beautiful” in the background when conservatives disagree with anyone not conservative. The choice here is not be grateful, or get out and live in Iran, Cuba, etc. That’s ridiculous, demeaning, and not an argument. There are changes needed in this country, and advocating those changes does not make someless less of a citizen, and wrapping yourself in the flag does not make you a better citizen.
Health insurance is a huge expense for those whose jobs don’t offer it, for the self employed or people who work several part time jobs where they are ineligible – just some of the scenarios at play here for the uninsured. There are millions of uninsured people in this country. To grandly state that people just won’t pay for it because they want everything free is ignorant.
As long as you take your meds, What, crime won’t be spiking.
Did you check in with your parole officer today, What?
11:39,
Thanks for the suggestion. That was interesting.
Does he archive data beyond 30 days? I looked for a bit but couldn’t find the numbers from 6 months or 1 year ago, which would also be interesting.
11:16
11:16
You should check out charts of “total inventory,” “price reductions” and “contracts signed/new listings” on Noah Rosenblatt’s Urbandigs website (urbandigs.com). While the data is for Manhattan I think it is safe to conclude Brooklyn market is functioning in a generally similar fashion.
“Hey What, I see your back from your interview tour after the New York Magazine article about you. What did you think of that article?”
No much because I’m not in it for the glory. This Mutant Real Estate Asset Bubble is a thing that I loathe. The easy credit schemes, The Asshats, The JR Trumps, Greedy and Delusion people and other BS that I forgot.
But you homeboy The What sees light at the end of the tunnel. High energy prices, rocking foreclosure rates. massive lay offs on Wall Street and Spiking crime are stating to kill this bubble.
The debt slaves are staring to feel those flagpoles. LMMFAO!
The What
Someday this war is gonna end….