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Real Estate Industry Issues Quarterly Notice of Rising Prices

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That headline's not exactly a shocker, but one of the nice things about the REBNY quarterly market report is that it tackles all boroughs at once, unlike the big brokerages' market reports. So how did the five boroughs do last quarter? The average NYC home price rose by 8 percent from the third quarter of 2010, to $780,000. The total dollar value of NYC residential transactions hit $8.04 billion, an increase from the second quarter but a drop of 3.89 percent from last year.

The borough with the largest increase in home prices was Brooklyn, as the Journal notes, with the average price per square foot rising from $421 in last year's third quarter to $443 this time around. Williamsburg saw the most sales (235) followed by Park Slope (187) and surprise third-place finisher Bed-Stuy (164).

In Manhattan, the Upper East Side and Upper West Side topped the charts when it came to number of sales, the UES with 723 and the UWS with 647. But it was Chelsea that saw the largest price jump, 16 percent over last quarter and Q3 of 2010.
· Brooklyn Sales Show Pluses [WSJ]
· Market Reports coverage [Curbed]