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[Tight] 1Q 2013 Brooklyn Report

Posted By Jonathan Miller On April 11, 2013 @ 2:29 pm In Brooklyn,Douglas Elliman,Elliman Reports | Comments Disabled


We recently published our report on the Brooklyn sales market [1]. This is part of an evolving market report series I’ve been writing for Douglas Elliman [2] since 1994.

Key Points

  • Lowest inventory levels recorded in 5 years.
  • Sales below year ago levels as lack of inventory impairing sales volume.
  • Prices are up as supply limitations keep pressure on market.
  • More bidding wars.

Here’s an excerpt from the report:

…The Brooklyn housing market began 2013 with rising prices, chronically low inventory and sales restrained from the lack of supply. Several records were set in the first quarter: lowest inventory and listing discount in the 5-years they have been tracked, highest median sales price since Lehman fell and the sharpest year-over-year decline in inventory. Average sales price registered a similar year-over-year gain of 12.3% to $634,594 in the first quarter, a new record. New development trends, often a function of what is made available to the market at any given time, showed a larger gain in median sales price than the re-sale market from the same period last year…

You can build your own custom data tables [3] on the market – now updated with 1Q 13 data. Charts updated with 1Q13 data will be online shortly.

The Elliman Report: 1Q 2013 Brooklyn Sales [Miller Samuel [1]]
The Elliman Report: 1Q 2013 Brooklyn Sales [Douglas Elliman [4]]
Aggregated Custom Market Data Tables [Miller Samuel [3]]

Article printed from Miller Samuel Real Estate Appraisers & Consultants: http://www.millersamuel.com

URL to article: http://www.millersamuel.com/tight-1q-2013-brooklyn-report/

URLs in this post:

[1] Image: http://www.millersamuel.com/reports/elliman-report-brooklyn-sales-1q-2013

[2] Douglas Elliman: http://www.elliman.com/marketreports/

[3] build your own custom data tables: http://aggregate-data.millersamuel.com/

[4] Douglas Elliman: http://www.elliman.com/reports-and-guides/reports/new-york-city/1q-2013-brooklyn-sales/3-409

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