Jan
12

In the News January 12, 2014

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1/9/14:  Douglas Elliman Releases Elliman Report for 4th Quarter 2013 Brooklyn Sales:  Brooklyn’s housing market continued to be one of the strongest in New York City with rising prices and sales as well as a large decline of inventory. It is also the only borough to see the median sales price exceed the levels set during the previous boom. The combination of rising sales and falling supply made the market move at the second fastest rate in 5 years. We expect this momentum to carry into 2014 as the economy improves.  See the full report at Elliman.com

1/9/14:  Douglas Elliman Releases Elliman Report for 4th Quarter 2013 Queens Sales:  The Queens housing market had a large increase in sales to help the year finish on a high note. Sales price trends remained fairly stable year-to-date, but choices for buyers were limited as inventory fell to the lowest level on record. Like much of the region, the decline in sales and rise in supply made the market pace unusually fast. With the economy expected to improve, we anticipate an active housing market in the first half of 2014.  See the full report at Elliman.com

1/9/14:  Douglas Elliman Releases Elliman Report for 4th Quarter 2013 Westchester and Putnam Sales:  The housing market in Westchester had many of the same trends as those we observed in the city: rising sales, falling supply and rising prices. Median sales price and the total number of sales reached an eight-year high. Falling inventory kept pressure on prices throughout 2013 that resulted in modest year-to-date increases in housing prices. With an unusually high number of signed contracts in the fourth quarter, we expect this momentum to continue into the new year. Putnam’s housing market experienced falling inventory but not to the same extent as Westchester did. The number of sales jumped above last year¹s totals, but housing prices were generally stable. The decline in supply and the increase in sales caused the market to move faster than last year, but not at the same rapid pace as Westchester. We anticipate similar conditions over the next several quarters.  See the full report at Elliman.com

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