Taking the Pulse of Townhouse Sales in the Slope
Last week we received a document entitled Charles Ruoff’s Townhouse Report, the first in a biannual series Ruoff, a Brown Harris Stevens broker who specializes in townhouse sales in Park Slope and Prospect Heights, intends to produce. Ruoff’s recent big-ticket listings include 598 2nd Street ($3,450,000) and 909 Union Street ($2,495,000). The broker’s assessment of…
Last week we received a document entitled Charles Ruoff’s Townhouse Report, the first in a biannual series Ruoff, a Brown Harris Stevens broker who specializes in townhouse sales in Park Slope and Prospect Heights, intends to produce. Ruoff’s recent big-ticket listings include 598 2nd Street ($3,450,000) and 909 Union Street ($2,495,000). The broker’s assessment of the current townhouse market in the Slope and Prospect Heights is as follows:
We are once again faced with limited supply of homes in all price points. The third quarter of 2007 produced some noteworthy sales and in fact record-breaking prices in both the North and South Slope as well as in the adjoining neighborhood of Prospect Heights. Inventory as well as demand seems to be especially lacking in the high $1 million dollar to low $2 million dollar range. The limited supply of multi-family homes on the market can best be attributed to the dramatic rise in rents for landlords now receiving very healthy cash-flow.
Sound about right to you?
Photo by Da Nator.
Demand is probably not where it was six months ago. I agree.. Prices don’t seem to be going down. I received the report at my home, it goes on to say that houses that need a ton of work are sitting on the market. That is certainly been the case, look at the two huge houses on my block– Montgomery Place listed with Elliman and Townsley and Gay.. Been sitting for a long time.
This guy has listed and sold a lot of houses, just looked at his website. Seems to be a balanced reporting of things to me. No one obviously has a crystal ball..
where is The What?
Anyone know of a fixer-upper in Brooklyn Heights or Park Slope under a million? I’m buyin’.
My good friend who is a broker told me people are no longer willing to pay $ millions for any house, even if it’s in Carroll Gardens. She also said Park Slope is “so over”.
My good friend who is a broker told me people are no longer willing to pay $ millions for a fixer-upper, even if it’s a “grandma” house in Brooklyn Heights or Park Slope. She also said bidding wars are over.
And why is demand lacking in the 1-2 million dollar range? He didn’t answer that question, so let me give it a try.
Because the market is soft.
As a landlord in the Slope I can say that rents have been going up in the last few years, this is a factor for not selling. They have been going up locally and nationally. This is this gentleman’s professional opinion and he probably knows better than most..
Gabay do you have any reporting skills?
How about doing your own research rather than blindly quoting brokers. Don’t you think they may be a tad bit biased?