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[Tempering Sales] 4Q 2012 Brooklyn Report
Posted By Jonathan Miller On January 21, 2013 @ 10:13 pm In Brooklyn | No Comments
Here’s an excerpt from the report:
…The Brooklyn housing market saw a final quarter of 2012 characterized by unusually low inventory, which in turn limited the volume of both re-sale and new development activity despite the demand generated by record low mortgage rates. As a result, the price indicators showed a year-over-year jump across most market segments.
There were 4,685 listings at the end of the fourth quarter, the metric’s lowest total since we began tracking it in mid-2008. Listing inventory was 20.7% below prior year levels, resulting in a 9.7-month absorption rate, faster than the 11.4-month rate in the same period last year. Despite record low mortgage rates and a slowly improving economy, the number of sales fell 7.3% to 1,445 over the same period, as limited inventory and tight mortgage lending conditions continued to restrain demand…
You can build your own custom data tables  on the market – now updated with 4Q 12 data. Charts with 4Q12 data appended will be online shortly.
Article printed from Miller Samuel Real Estate Appraisers & Consultants: http://www.millersamuel.com
URL to article: http://www.millersamuel.com/blog/tempering-sales-4q-2012-brooklyn-report/27927
URLs in this post:
 Image: http://www.millersamuel.com/reports/elliman-report-brooklyn-sales-4q-2012
 report on the Brooklyn sales market for 4Q 2012: http://www.elliman.com/reports-and-guides/reports/new-york-city/4q-2012-brooklyn-sales/3-392
 Douglas Elliman: http://www.elliman.com/marketreports/
 build your own custom data tables: http://aggregate-data.millersamuel.com/
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