Archive for July 2018

There is always so much going on Brooklyn; especially this time of the year.  I got a chance to check out Smith Street Stage’s rendition of one of William Shakespeare’s most popular work’s; A Midsummer Night’s Dream.  Smith Street Stage is a theater company committed to providing classic stories to all ages and backgrounds.  Starting with a five-actor adaptation of Romeo and Juliet in 2010; they have grown to hire over thirty artists where they now perform Shakespeare for over two thousand people each summer in Brooklyn’s Carroll Park.  Click here to check out some of their upcoming performances throughout the rest of the summer.  Trust me, you will have a blast.

Filed under: Blog, Brooklyn, Carroll Gardens, Douglas Elliman Real Estate, Theater by Ryan Roberts
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The blistering pace of the Brooklyn real estate market has eased slightly with fewer sales and more inventory.  The median sales price slipped 1.9% to $780,000 from the same period last year to the third highest level ever recorded and the first decline after twenty-two consecutive increases.  Luxury median sales price, representing the top 10% of all sales, declined 2.1% to $2,467,500 with a 4.4% lower price threshold of $1.840,000.  The number of sales declined year over year for the second consecutive quarter after 10 consecutive quarters of gains.  Sales fell 5.7% to 2,683 from the year-ago quarter.

The absorption rate, the number of months to sell all listing inventory at the current rate of sales, was 3 months, up from 2.4 months in the year-ago quarter.  The average days on the market rose 15.1% to 107 days, and listing discounts slipped to 2.6% from 2.9% in the prior-year quarter.  Take a look at the graph below and click here to view the full 2nd quarter Brooklyn sales market report.

Filed under: Blog, Brooklyn, Buying, Douglas Elliman Real Estate, Market Report, Real Estate, Selling by Ryan Roberts
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