Fresh news from the New York Real Estate World:
In Brooklyn and Queens, home sales prices tick up as volume drops
“January 20, 2011 12:00AM
After an erratic several months in Brooklyn and Queens, due largely to pent up demand and the first-time homebuyer tax credit, the residential market in the two boroughs may be stabilizing, according to a Prudential Douglas Elliman report covering both boroughs released today.
The median residential sales prices climbed in the fourth quarter compared to the same three months in 2009 while the number of sales dropped in both boroughs.
In Brooklyn, the figure rose 6.2 percent to $475,000, while sales dropped 29.9 percent to 1,468 from 2,093. In Queens, meanwhile, the price increased 5.4 percent to $369,000, as home sales plummeted 41.7. Last quarter saw 2,483 sales in Queens, compared to 4,260 during fourth-quarter 2009.”
… Continue reading the article on TheRealDeal.com
