Posted Friday, January 29 2010
And the fourth quarter data comparisons continue. Today I'm looking at Elliman's sales data by property type alongside Deparment of Numbers' comparable prices. Elliman breaks out house, CO-OP and condo prices for Manhattan, Brooklyn and Queens. As usual, the Bronx and Staten Island aren't analyzed.
4Q 2009 Median Sales Price Comparisons by Property Type
|Department of Numbers||Manhattan||$615,000||$969,524||$3,300,000|
|Department of Numbers||Brooklyn||$269,500||$467,708||$537,000|
|Department of Numbers||Queens||$197,803||$372,555||$449,500|
Once again I think we're seeing very good agreement with industry data with the notable exception of condos in Queens. I'll look into that more and update this post if I find a way to explain the discrepancy. My guess is that Elliman has access to intra-month sales records updates while I currently do not. They published these metrics on the 21st I believe, so they had some time to gather more information. If that's the case, the numbers should resolve somewhat when the January sales data is released by the city and I publish the revised data in the first week of February.