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The week in real estate market reports
A weekly feature bringing you the industry’s latest intel
According to the latest batch of market reports, transaction volume for U.S. commercial real estate slowed this year, new development prices in Park Slope are soaring, and Manhattan’s resale price growth is shrinking.
Residential
July 2016 New residential sales: U.S. Department of Commerce
U.S. home sales reached a nine-year high in July. The median price for a new home also dropped 0.5 percent year-over-year to $294,000. Read the full report here.
Queens-bound 7 train rents: Ariel Property Advisors
Real estate values in neighborhoods along the Queens-bound 7 train are expected to climb during an L train shutdown in 2019. Read the full report here.
August 2016 Park Slope new developments: Halstead Property Development Marketing
The average price per square foot for new development units jumped 64 percent in Park Slope and 103 percent in Boreum Hill since 2011. Read the full report here.
July 2016 Brooklyn and Manhattan sales: StreetEasy
Manhattan and Brooklyn saw the smallest price growth this month since 2012, and resale prices are expected to continue at this pace over the next 12 months. Read the full report here.
Commercial
U.S. macro forecast: Cushman & Wakefield
Commercial real estate sales volume will total less than $450 billion by the end of the year, a 15 to 20 percent decrease from 2015. Meanwhile, price appreciation is expected to reach 7.4 percent by the end of 2016. Read the full report here.