Brooklyn’s median resale price increased 3.8 percent year-over-year to $560,493. North Brooklyn was the only submarket where median resale price fell (-2.9 percent year-over-year); Northwest Brooklyn resale prices rose the most (7.8 percent year-over-year). Brooklyn’s median rent decreased 0.2 percent year-over-year to $2,819. Price growth in Manhattan’s sales market plateaued at the end of the year as competition tempered across the borough, according to the Q4 2016 StreetEasy Market Reports [i] . In Manhattan, median resale price grew 0.7 percent year-over-year to $983,205 in the fourth quarter, the slowest annual quarterly growth since Q4 2010 [ii] . Almost 40 percent of all Manhattan sales listings had a price cut in the fourth quarter and Manhattan sellers received a median of 97.4 percent of their asking price, compared to almost 100 percent last year. Manhattan’s pending sales fell 3.7 percent year-over-year and homes spent 64 days on market, an increase #propertymanagement of 10 days since last year. “Manhattan’s housing market over the past few years has been at the mercy of climbing luxury prices,” said StreetEasy economist Krishna Rao.
source https://rentwithdiamond.wordpress.com/2017/03/12/some-great-ideas-for-easy-property-managers-products/
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