Jul
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In the News July 28, 2013

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07/11/13 Douglas Elliman Releases 2QTR 2013 Brooklyn Sales Report:  The Brooklyn housing market continued to experience limited levels of new inventory coming to the market. In fact, the spring market marked the lowest inventory in seven years and as a result, sales slipped and prices pushed to 10-year highs. The market moved at a faster pace with shorter marketing times and smaller discounts from list price. We do not expect significant improvement in re-sale inventory to enter the market in the coming quarters, which will keep the pressure on the market.  See the full report at Elliman.com 

7/11/13 Douglas Elliman Releases 2QTR 2013 Queens Sales Report:  The Queens housing market had the lowest inventory total in five years, but sales continued to rise. The faster pace of the market is resulting in some upward price pressure. Despite the limited supply, we didn’t see much change in market times or negotiability between buyers and sellers. As buyers in Manhattan and Brooklyn seek out affordability, we anticipate Queens to be one of the primary beneficiaries of this trend.  See the full report at Elliman.com

7/11/13 Douglas Elliman Releases 2QTR 2013 Westchester & Putnam Sales Report:  The Westchester housing market has experienced the most active second quarter in 8 years. Inventory continued to fall, reaching an 8-year low for the spring market. With a brisk pace of signed contracts in the second quarter, we expected a high level of closings in the next quarter and limited new inventory to enter the market. However, the shortage of supply has only caused a slight gain in prices. We see rising interest rates as a sign of an improving economy and anticipate continued improvement through the rest of the year.  See the full report at Elliman.com

7/16/13  Residents Sound Off About Planned East Side Esplanade Makeover:  The Rockefeller University’s plan to improve a neglected public park along the river as part of a campus revamp has some neighborhood residents worried the overhaul will destroy the East River Esplanade.    See the full article at DNA Info.com 

7/18/13  Douglas Elliman Releases 2QTR 2013 Miami Sales Report: The Miami housing market pushed ahead with more sales than during any other quarter over the past seven years.  Inventory continued to fall, causing prices to rise across most property types. Cash purchases remain an important driver of the market accounting for about three fourths of all condo sales. An improving regional economy as well as heavy international demand and a strong relationship with New York consumers is expected to keep the market moving over the next several quarters.  See the full report at Elliman.com

7/18/13 Douglas Elliman Releases 2QTR 2013 Boca Raton Sales Report:  Boca Raton experienced a large drop in supply over the past year keeping the pressure up on housing prices.  Little relief from low inventory is expected soon. Despite the decline in inventory, sales have been rising as marketing times have been falling. Cash remains a distinct advantage for buyers competing for fewer listings accounting for two thirds of all sales. We expect the current conditions to continue through the remainder of the year.  See the full report at Elliman.com

7/18/13 Douglas Elliman Releases 2QTR 2013 Fort Lauderdale Sales Report:  Fort Lauderdale is experiencing falling inventory. The lack of supply placed pressure on prices as the average size of a sale slipped a bit from last year. Sales of condos and single family homes reached their highest total in over seven years and cash purchases accounted for nearly two thirds of all sales. We anticipate these conditions to characterize the market over the coming quarters.  See the full report at Elliman.com

7/18/13 Douglas Elliman Releases 2QTR 2013 Palm Beach Sales Report:  Palm Beach showed some of the largest price increases in the region caused mainly by the lack of inventory.  The supply of homes fell steadily over the past year but the second quarter had the most sales of any spring market since 2008.  Price increases in the luxury market outpaced the overall market with the addition of many larger-sized sales. Without near term relief from low inventory, we expect more of the same tight market conditions throughout the year.  See the full report at Elliman.com

7/25/13 Douglas Elliman Releases 2 QTR 2013 Long Island Sales Report:  With the combination of rising sales and falling inventory, the Long Island housing market had the fastest market pace we’ve seen since 2005. As housing prices have begun to rise, we are now seeing signs of new supply entering the market, a relief for buyers. Interest rates started to increase at the end of the quarter and are expected to keep the market from getting overheated over the next few quarters.  See the full report at Elliman.com

7/25/13 Douglas Elliman Releases 2QTR 2013 Hamptons Sales Report:   The Hamptons housing market had the most active spring since 2006. There were a lot more sales and inventory continued to fall keeping the upward pressure on the housing prices. With fewer choices for buyers, we saw properties sell slightly faster with less negotiation between buyers and sellers. We expect more of the same tight conditions over the next several quarters.  See the full report at Elliman.com

7/25/13 Douglas Elliman Releases North Fork Sales Report:  The housing market in the North Fork behaved much as it’s neighbors to the south.  There were more sales this quarter along with less inventory and prices are beginning to rise.  An improving economy and concerns about rising interest rates brought a lot of buyers into the market even though credit remained tight. Overall it was an encouraging spring and we look forward to a stronger market for the remainder of the year.  See the full report on Elliman.com

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