If you’ve been:

A. Pouring over state maps of pet ownership
B. Watching the World Cup
C. Watching the Tour de France
D. Fretting about the Russell Stover purchase

Then you may have missed last week’s market report releases for Brooklyn, Queens and Westchester/Putnam Reports. These are part of the report series I’ve been writing for Douglas Elliman since 1994 (20 years!). The reports have a new look – hope you like them.

Click on graphics to open them.

BROOKLYN SALES MARKET Brooklyn housing prices continue to set new
records, due to rising sales and low inventory.
The median sales price of a Brooklyn residential
property increased 4.5% to a record $575,000
from the same period last year. Average sales
price also set a new record, rising 16.6% to
$783,296 from the prior year quarter. Median
sales price is now 6.5% above the $540,000
market peak reached in the third quarter of
2007 before the 2008 Lehman “tipping point.” Although this is the 7th consecutive quarter
with year-over-year gains in median sales price,
the first two quarters of 2014 posted smaller
single-digit gains than the double-digit gains of
the preceding 5 quarters…

QUEENS SALES MARKET The Queens housing market took a breather after
6 consecutive quarters of rising sales. There were
2,404 sales in the second quarter, 3.6% less
than the same period last year. Year to date, the
number of sales remained 14.2% higher than the
same period last year due to the sharp rise in first
quarter sales activity. Despite the decline, listing
inventory continued to fall for the 13th consecutive
quarter. There were 5,892 listings at the end of
the second quarter, 5.3% less than the same
period last year. As a result of the combination
of declining sales and falling inventory, the pace
of the market remained stable…

WESTCHESTER/PUTNAM SALES MARKET Westchester single family contract activity was
higher than prior year levels as severe winter
weather conditions pushed first quarter pending
sales into the second quarter. Despite the 16.7%
decline in closed home sales, total contracts
expanded 3.9% from the prior year quarter and
jumped 51.9% from the prior quarter. The rise
in contracts from first to second quarter was
higher than the 35.5% average increase of the
prior 2 years. Listing inventory expanded 7.9% to
3,905 rising from the low water mark set in 2013…

_________________

Miller Samuel Aggregate Database [Miller Samuel]

Market Chart Gallery [Miller Samuel]