Jan
21

In the News, Januray 20, 2013

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01/14/13 Manhattan’s storied co-ops take a backseat to new luxury condos – Manhattan’s once-fabled co-op addresses no longer command the biggest sales prices in the city, and have been upended by newer destination condominium addresses, real estate author Michael Gross writes in the Daily Beast  See the full article at The Real Deal   

01/17/13 Douglas Elliman Releases 4th Quarter 2012 Brooklyn Sales Report.  Listing inventory for the Brooklyn housing market continued to fall, reaching four-year lows that kept sales from rising.  Although mortgage lending remained tight, record low mortgage rates combined with limited supply of both re-sale and new development listings placed upward pressure on housing prices. With the expected improvement in our local economy, we are pleased with the direction of the Brooklyn housing market and look forward to an active market in 2013.  See the full report at Elliman.com  

01/17/13 Douglas Elliman Releases 4th Quarter 2012 Queens Sales Report.  In the final quarter of 2012, we continued to see inventory fall, reaching its lowest fourth quarter level in seven years. Record low mortgage rates and lack of inventory caused prices to rise in some markets. While a shortage of inventory kept more sales from occurring, properties sold more quickly as buyers and sellers moved closer together on price. We are encouraged by the constant improvement we are observing and look forward to an even better Queens market for 2013. See the full report at Elliman.com

01/18/13 Douglas Elliman Releases 4th Quarter 2012 Palm Beach Sales report.  There was a significant uptick in Palm Beach sales activity this quarter compared to the results last year. We also observed a significant shift towards high end properties as indicated by the jump in overall market prices and luxury market prices. The longer marketing times largely reflected older inventory being sold off. The market improvement has been an encouraging development that we expect to see through most of 2013.  See the full report at Elliman.com

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