Meanwhile, in Outer-Borough Housing...
As Manhattan housing rightfully snags the spotlight today, here's a snapshot of what's happening in Brooklyn and Queens, courtesy of the Daily News:
Brooklyn home sales in the last four years dropped 52.7 percent, from 12,089 to 5,716. In the last year alone, sales fell 37.5 percent Queens home sales dropped 48.4 percent in four years, from 17,962 to 9,266. Sales dropped 34.8 percent in the last year. Home sales in Richmond Hill, Queens, dropped from 938 in 2006 to 665 in 2007. In Astoria, between September 2007 and August 2008, 228 homes sold, a 39.4 percent drop from 2004 and 2005. The average single-family home now sells for $500,000 to $525,000, down from $550,000 to $590,000 a year ago.
More dismal stats here.
Copyright 2009  The New York Observer
