Brooklyn residential market holds its own

March 29, 2011 03:39PM

Truman Capote’s Brooklyn Heights home, which hit the market last year

From the 2011 Data Book: Considering the large amount of new construction supply
there, Brooklyn’s residential market has arguably held
up well since the meltdown on Wall Street in late 2008, according to The Real Deal’s 2011 Data Book (see full Brooklyn residential page below).
According to Miller Samuel, the borough’s median home price
near the end of 2010 was only 10 percent lower than the high point
reached during the boom three years earlier. Like with the rest
of the city, the challenges that face the Brooklyn market include
unemployment, tight credit, shadow inventory and a possible
city-budget shortfall, Miller Samuel CEO Jonathan Miller noted. To purchase the 2011 Data Book, click on the link at the top of the site or click here. TRD

Data Book