[click to open report]

The 1Q 2010 Brooklyn Market Overview that I author for Prudential Douglas Elliman was released today.

Other reports we prepare can be found here.

The 1Q 2010 data and a series of charts will be available shortly when I get my act together. The data section has been reconstructed – it wasn’t originally designed 8 years ago to handle the volume of data I have saddled it with and I am being told will be ready next week. I’ll announce it as a post as soon as it is ready. In addition. I’ll have a podcast uploaded shortly as well.

Press coverage can be found here.

Since the neighborhood data is too thin to build a reliable trend line, we have grouped neighborhoods by logical regions based on housing stock.

An excerpt

…The release of pent-up demand in the second half of 2009 continued into 2010 with the number of sales rising 56.9% to 1,861 sales from 1,186 sales in the prior year quarter. The number of sales in the first quarter was 11.1% below the prior quarter level of 2,093, much improved from the 35.9% quarter over quarter decline in number of sales in the prior year. The average quarter-over-quarter decline over the past 5 years is 5.8%. Listing inventory fell to 5,761, 4.7% below the 6,042 listings during the same period a year ago, but 5.6% higher than the 5,439 listings at the end of the prior quarter. The rise in number of sales and the decline in inventory over the year resulted in a significant improvement in the monthly absorption rateÑ the number if months it would take to sell all available listings at the current pace of sales. The absorption rate was 9.3 months, down from 15.3 months in the prior year quarter…

1Q 2010 Brooklyn Market Overview [Miller Samuel]


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