Showing posts with label Brooklyn Residential Real Estate Market Report. Show all posts
Showing posts with label Brooklyn Residential Real Estate Market Report. Show all posts

Jan 11, 2018

Brooklyn Market Report | Fourth Quarter 2017

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I am delighted to share with you the latest edition of The Corcoran Report for Brooklyn. Inside you will find a detailed analysis of residential real estate sales that closed in Brooklyn in Fourth Quarter 2017 (October 1 through December 31)

Key findings of the Fourth Quarter report:

  •  The real estate market in Brooklyn closed out 2017 on a high note: It sustained the trend of an expanding market. Closed sales however, took a break from the double-digit surge seen earlier this year, as the annual gains were less robust in Fourth Quarter 2017 relative to the first three quarters of the year. For buyers, constrained inventory at all price points was a key factor for lower growth levels this quarter as sellers were unable to keep pace with the strong demand for housing. New development product played a crucial role in spanning the shortfall of resale supply and the market responded favorably with swift sales of new product
  • The total number of closed sales in Fourth Quarter 2017 rose 7% year-over-year: Apartment closings came in at 1,318. The new development market fared better than the resale market in Brooklyn as this was the strongest Fourth quarter for new development sales in seven years. 
  • The total number of closed sales in Fourth Quarter 2017 rose 7% year-over-year: Apartment closings came in at 1,318. The new development market fared better than the resale market in Brooklyn as this was the strongest Fourth quarter for new development sales in seven years. 
  • The total number of closed sales in Fourth Quarter 2017 rose 7% year-over-year: Apartment closings came in at 1,318. The new development market fared better than the resale market in Brooklyn as this was the strongest Fourth quarter for new development sales in seven years. 
Please do not hesitate to reach out if you have any questions about The Corcoran Report or the Brooklyn market in general. I welcome the opportunity to be of assistance to you.


 
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