I thought I'd present some metrics across all all five boroughs to show a little context to Manhattan. This chart trifecta shows market dollar volume, change in sales and change in prices by borough since 2004.
Since there's a lot here, I'll let the charts do the talking but here are a few things that stood out:
· Manhattan's new development housing boom in the middle of the past decade not only stood apart from the other boroughs, but the sale of high end units continues to widen the gap from the other boroughs.
· Manhattan's market peak ('08) was extended by the new development boom after the outer boroughs ('07) and the US peak ('06)
· Although I realize it is just getting started, Brooklyn's development/sales boom of the past few years has been relatively benign in terms of overall price structure as compared to the Manhattan boom in the middle of the last decade.
· Matrix [matrix.millersamuel.com]
· Three Cents Worth archive [Curbed]