2Q09BrooklynMatrix

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Brooklyn Market Overview 2Q 2009 (Data Brief)

Publication Date: July 16, 2009

analysis prepared by

Prudential Douglas EllimanJonathan J. Miller

http://www.prudentialelliman.com

President/CEOMiller Samuel Real Estate Appraisers Matrix blog - interpreting the real estate economy(646) 283-2351 mobile

http://matrix.millersamuel.com

(212) 768-8100 X101 office

jmiller@millersamuel.com

The Housing Helix Podcast

http://www.millersamuel.com/reports http://www.thehousinghelix.com

BROOKLYN MARKET [all co-op, condo and 1-3 family sales]MatrixCurrent Qtr%ChgPrior Qtr%ChgPrior Yr Qtr

Average Sales Price $495,120 -8.5% $540,919 -15.9% $588,441Median Sales Price $441,090 -7.1% $474,600 -16.0% $525,000New Development $491,895 -1.4% $498,937 -12.5% $562,029Re-sale $430,000 -8.3% $469,000 -17.3% $520,000Number of Sales 1,428 20.4% 1,186 -29.7% 2,031Days on Market (From Last List Date) 146 2.7% 142 7.4% 136Listing Discount (From Last List Price) 5.1% 8.7% 3.3%Listing Inventory 6,330 2.9% 6,154 4.9% 6,037

MARKET BY PROPERTY TYPECONDO MARKET [Brooklyn]MatrixCurrent Qtr%ChgPrior Qtr%ChgPrior Yr Qtr

Average Sales Price $518,847 -2.5% $531,889 -13.7% $601,280Average Price per Sq Ft $471 -0.8% $475 -18.0% $575Median Sales Price $475,283 2.6% $463,185 -7.7% $514,725Number of Sales 372 13.4% 328 -46.1% 690Days on Market (From Last List Date) 162 -5.3% 171 -1.8% 165Listing Discount (From Last List Price) 7.0% 7.4% 3.4%

New Development Submarket

Average Sales Price $521,792 -14.0% $606,475 -23.5% $682,131Average Price per Sq Ft $471 -17.1% $568 -27.4% $649Median Sales Price $491,895 -1.4% $498,937 -15.2% $580,402Number of Sales 184 48.4% 124 -47.9% 353

Re-Sale Submarket

Average Sales Price $515,964 6.0% $486,552 -0.1% $516,591Average Price per Sq Ft $472 9.9% $429 -4.9% $496Median Sales Price $465,000 7.3% $433,485 1.9% $456,300Number of Sales 188 -7.8% 204 -44.2% 337

CO-OP MARKET [Brooklyn]MatrixCurrent Qtr%ChgPrior Qtr%ChgPrior Yr Qtr

Average Sales Price $313,432 0.5% $311,862 -5.7% $332,250Median Sales Price $249,500 4.0% $239,990 -2.2% $255,000Number of Sales 340 34.9% 252 8.3% 314Days on Market (From Last List Date) 138 -2.1% 141 3.8% 133Listing Discount (From Last List Price) 4.8% 8.5% 2.6%

1-3 FAMILY MARKET [Brooklyn]MatrixCurrent Qtr%ChgPrior Qtr%ChgPrior Yr Qtr

Average Sales Price $569,068 -11.2% $641,059 -13.1% $654,614Average Price per Sq Ft $241 -9.6% $266 -12.8% $276Median Sales Price $520,000 -5.5% $550,000 -12.5% $594,000Number Of Sales 716 18.2% 606 -30.3% 1,027Days on Market (From Last List Date) 141 11.0% 127 20.5% 117Listing Discount (From Last List Price) 4.3% 9.4% 3.5%

LUXURY MARKET [upper 10% of all Brooklyn co-op, condo and 1-3 famly sales prices]MatrixCurrent Qtr%ChgPrior Qtr%ChgPrior Yr Qtr

Average Sales Price $1,189,499 -16.0% $1,416,670 -14.9% $1,396,978Average Price per Sq Ft $451 -12.1% $513 -18.9% $556Median Sales Price $983,622 -9.0% $1,080,363 -18.0% $1,200,000Number Of Sales 142 21.4% 117 -29.7% 202Days on Market (From Last List Date) 155 -9.9% 172 10.7% 140Listing Discount (From Last List Price) 7.6% 2.6% 3.4%

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