Posted by Jonathan J. Miller -Thursday, July 15, 2010, 12:21 PM
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Since the neighborhood data is too thin to build a reliable trend line, we have grouped neighborhoods by logical regions based on housing stock.
…The median sales price of a Brooklyn property was $463,000 in the second quarter, 5% above the $441,090 median sales price of the p0rior year quarter and nominally below the $466,000 median sales price of the prior quarter. This indicator showed a year-over-year increase for the first time since the third quarter of 2007 and showed diminishing quarterly declines over the past year. This suggests that price levels have stabilized. Average sales price was $545,110 in the second quarter, 10.1% above $495,120 in the prior year quarter and 2.5% above $532,061 in the prior quarter. The trends were not skewed by a shift in the mix of properties that sold over the past year. The average size of all sold property types in the second quarter was 1,532 square feet, down a modest 1.2% from 1,550 square feet in the prior year quarter…
2Q 2010 Brooklyn Market Overview [Miller Samuel]