…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…