Author Topic: 4th Quarter 2014 Douglas Elliman Report  (Read 1083 times)

Offline Marlene

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4th Quarter 2014 Douglas Elliman Report
« on: January 15, 2015, 08:51:53 AM »
We have just released the fourth quarter 2014 “Elliman Reports” for Brooklyn, Queens, Westchester and Putnam; the leading resources on the state of these markets. As always, our market reports are produced in conjunction with Miller Samuel to provide you and your clients with the most comprehensive and neutral market insight available.
 
Brooklyn housing prices increased for the ninth consecutive quarter, pushing the annual median sales price to a record high.  Sales slipped from year ago levels but remained consistent with historical trends.  Rising prices have pulled more sellers into the market as inventory comes up from last year’s record lows.  With the improving economy, we anticipate similar conditions over the coming quarters.
 
The Queens housing market finished the year with rising prices in the fourth quarter.  Sales fell short of last year’s levels while inventory edged higher.  Despite the slower pace of the market, marketing times were shorter and negotiability between buyers and sellers was reduced.
 
Westchester housing prices have increased or moved sideways for the eighth consecutive quarter.  Prices in the luxury market increased faster than the overall market.  Unlike the most of the region, listing inventory declined as sales increased, resulting in a faster market pace than last year.  Low inventory is expected to keep the pressure on housing prices well into the new year.
 
The combination of sharply rising number of sales and a modest increase of inventory caused the housing prices in Putnam to increase.  Shorter marketing times and less negotiability between buyers and sellers resulted in an accelerated pace of the market.
 
There were more sales in the Putnam housing market although prices fell short of the levels reached last year. While there was more inventory available as compared to last year, properties sold more quickly and with less negotiability.
 
At Douglas Elliman, we constantly look for ways to provide our clients with better information that enables them to make more informed decisions. Our efforts to make this market report series possible reflect our strong belief that in a market that is constantly changing, access to timely information is one of the greatest resources we can offer our clients. We are committed to providing the best information and services in the industry. Explore our full market report series covering Manhattan, Brooklyn, Queens, Long Island, The Hamptons, North Fork, Westchester/Putnam, Miami, Boca Raton, Fort Lauderdale, Palm Beach and our soon to be released Los Angeles and Fairfield County reports at http://www.elliman.com/marketreports.
 
 
Warmest regards,
Dottie Herman
President and CEO
Douglas Elliman

___________________________________________________________________

Best,

Marlene Flores - 917-208-6709
Licensed Real Estate Salesperson, REALTOR®
Douglas Elliman Real Estate
47-37 Vernon Blvd., Long Island City
1995 Broadway, Manhattan
575 Madison Avenue, Manhattan
209-18 No. Blvd., Bayside
marlene.flores@elliman.com

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4th Quarter 2014 Douglas Elliman Report
« on: January 15, 2015, 08:51:53 AM »