Posted on January 26th, 2012

Just Released. Hamptons & North Fork Overview 4Q 2011

The Hamptons and North Fork housing markets continued to exceed expectations as sales rose above last year’s levels. Listing inventory fell sharply, as some sellers delayed listing their properties after the conflicting economic news during the fall housing season. We continued to see strength at the upper end of the market with the fourth highest number of sales above $5 million since the 2008 credit crunch. Over the last decade, the Hamptons & North Fork luxury markets have thrived, with prices rising to 2.5 times their 2002 levels. Despite the remaining economic challenges, including reduced Wall Street compensation and tighter credit, the East End market continued to outperform most housing markets in the region. We look forward to an active spring housing market.Click here for a full report.

Posted on January 26th, 2012

Just Released. Long Island Market Overview 4Q 2011

In the fourth quarter, the number of sales in the Long Island housing market nearly reached the same levels as last year, with increased activity on the north shore of Suffolk County. Listing inventory fell as some sellers delayed entering the market due to the conflicting economic news this fall and the lower housing prices for the quarter compared to a year ago. Considering the current economic challenges, the Long Island market provides opportunities for many and we are optimistic as we enter 2012.Click here for a full report.

Posted on January 19th, 2012

Just Released. Queens Market Overview 4Q 2011

The Queens housing market experienced a surge in co-op sales as homebuyers took advantage of record-low mortgage rates, contributing to an overall decrease in prices. While properties took a little longer to sell, listing inventory continued to slip. Compared to last year, prices in the luxury market edged higher. While there are many economic challenges still facing the New York City region, we are encouraged by many aspects of the Queens market.Click here for a full report.

Posted on January 19th, 2012

Just Released. Brooklyn Market Overview 4Q 2011

The Brooklyn market continued to see more sales and a decreasing inventory. Sales of lower priced co-ops jumped as owners took advantage of the drop in mortgage rates to all-time record lows contributing to overall decrease of prices. With less inventory available, the listing discount also fell as negotiability between buyers and sellers grew closer. Brooklyn continued to be one of the better performing markets in New York City, despite the economic challenges facing the region.Click here for a full report.

Posted on January 19th, 2012

Just Released. Westchester/ Putnam Market Overview 4Q 2011

The Westchester and Putnam County fourth quarter housing markets showed an increase in sales and a modest decline in inventory over the last year. We observed a significant rise in co-op sales, as first-time buyers took advantage of record-low mortgage rates. Overall housing prices were generally stable, but properties took slightly longer to sell. Considering the current national economic challenges, the market’s performance is encouraging, and we anticipate more of the same in the upcoming quarters.Click here for a full report.

Posted on January 12th, 2012

Just Released. Manhattan Rental Market Overview 4Q 2011

Rental prices continued to rise this quarter with landlords showing limited use of concessions to keep their properties fully occupied. In the last quarter of the year, properties rented at their second fastest pace in more than 15 years. A stabilizing economy and tight mortgage lending conditions have continued to keep upward pressure on rents. These conditions are not expected to change over the next several quarters. Click here for a full report.

Posted on January 4th, 2012

Just Released. Manhattan Sales Market Overview 4Q 2011

We have just released the Elliman Report: Manhattan Sales 4Q 2011. The Manhattan housing market finished the year with stable prices and continued strength at the upper end of the market. Condo sales continued to benefit from the demand by foreign buyers and listing inventory remained at reasonable levels. Although the preceding quarter was one of the most active sales periods of the past four years, this most recent quarter market had fewer sales than we would have liked to have seen. Although sales for the entire year exceeded the prior year, the economy still faces challenges ahead. We expect the 2012 Manhattan market performance to be comparable to 2011. Click here for a full report.

Posted on October 27th, 2011

Just Released. Hamptons & North Fork Market Overview 3Q 2011

There was a noticeable increase in sales activity compared to the same period last year, while overall housing prices maintained stability. Luxury market remained strong causing overall prices to show a large gain. Listing inventory slipped from last year's levels putting pressure on prices. Despite lingering economic challenges, we are encouraged by the performance of our housing market and will continue to follow it closely. Click here for a full report.

Posted on October 27th, 2011

Just Released. Long Island Market Overview 3Q 2011

Long Island housing sales were up sharply as inventory declined compared to last year; however, negotiability between buyers and sellers remained about the same. Housing prices declined largely due to last year’s federal homebuyers tax credit that had pushed sales prices higher. We will continue to closely follow the economic challenges facing the regional housing market. Based on current conditions, we anticipate continued stability over the next few quarters. Click here for a full report.

Posted on October 20th, 2011

Just Released. Brooklyn Market Overview 3Q 2011

The third quarter Brooklyn housing market was best characterized by rising sales, stable prices and inventory, and improved traction in the new development space. In fact, the borough had its second highest quarterly sales since the credit crunch began in 2008. Despite the economic challenges facing the US economy and the region, we continue to be impressed with the Brooklyn housing market. Click here for a full report.

Posted on October 20th, 2011

Just Released. Queens Market Overview 3Q 2011

For the fourth consecutive quarter, the Queens housing market showed year-over-year improvement in prices. Although sales activity slipped this quarter, the amount of available listings fell as well. As a result, the listing discount, measuring the negotiating difference between buyer and seller, remained unchanged. Despite the economic challenges facing the US economy and the region, the Queens housing market shows stability. Click here for a full report.

Posted on October 13th, 2011

Just Released. Manhattan Rental Market Overview 3Q 2011

Rental market transactions remained at a high level this quarter with limited inventory holding back even more activity. The increased demand is being caused by tight credit conditions on the sales side of the market. As a result, landlord concessions remain at low levels and rental prices continue to rise. Because credit is expected to remain tight over the next several quarters, we anticipate continued strength in rental market for the remainder of the year. Click here for a full report.

Posted on October 13th, 2011

Just Released. Westchester & Putnam Market Overview 3Q 2011

Both Westchester and Putnam sales edged above last year's levels as the number of available listings slipped. Housing prices remained below last year’s levels fueled by the federal homebuyers tax credit. The high-end of the market continued to show improvement compared to the prior year. Despite the economic challenges facing the US economy, we are encouraged by the region's market activity and look forward to more of same in the future. Click here for a full report.

Posted on October 4th, 2011

Just Released. Manhattan Market Overview 3Q 2011

The Manhattan market continues to be one of the better performing housing markets in the country, despite the turmoil we read about every day. Housing prices showed continued stability this quarter consistent with the past several years. Condo sales activity benefited from an increase in demand as foreignbuyers took advantage of the weak US Dollar, while entry-level sales increased as buyers took advantage of falling mortgage rates. Although we will continue to face economic challenges going forward, we anticipate continuedseasonal stability through the end of the year. Click here for a full report.

Posted on July 21st, 2011

Just Released. Hamptons & North Fork Market Overview 2Q 2011

Sales activity in Hamptons and North Fork housing market remained stable with the high end of the market (top 10%) being more active compared to previous quarters. The overall housing market experienced level prices, but was outperformed by the luxury market. Buyers of luxury properties were faced with declining inventory and properties selling faster compared to last year. Despite remaining regional economic challenges, we are encouraged by the market. We anticipate continued stability during the second half of the year. Click here for a full report.

Posted on July 21st, 2011

Just Released. Long Island Market Overview 2Q 2011

Over the past year, the Long Island housing market remained stable. Sales were down compared to last year’s high level of activity fueled by the federal homebuyers tax credit. Inventory levels continue to be consistent with the average of the past 5 years. However, the properties are taking longer to sell, as the region continues to face economic challenges including unemployment, tight mortgage lending conditions and distressed sales. We remain optimistic about the market stability, and anticipate more of the same for the remainder of the year. Click here for a full report.

Posted on July 14th, 2011

Just Released. Queens Market Overview 2Q 2011

This quarter, housing prices continued to show stability even as sales activity decreased from last year's surge caused by federal home buyer tax credit. Queens new development condo sales activity rebounded to its highest market share in three years. However, properties are taking a little longer to sell, so it is critical to pay attention to local market conditions. Despite slow improvement of the regional economy, Queens continues to face economic challenges such as unemployment, tight lending and distressed sales activity. We anticipate the trend of continued market stability in the upcoming months. Click here for a full report.

Posted on July 14th, 2011

Just Released. Brooklyn Market Overview 2Q 2011

Since the beginning of the year, we have seen sales rise consistently with historic seasonal patterns. However, the numbers remained below last year's sales surge which was fueled by the federal homebuyer tax credit. Prices can be described as stable due to year-over-year gains, caused by an increase in the sales of larger homes. Listing inventory remains below long-term average levels with negotiability between buyer and seller remaining unchanged since last year. While the Westchester and Putnam housing markets may still be subject to remaining economic challenges including unemployment, tight mortgage lending conditions and distressed sales activity, the regional economy continues to slowly improve. We look forward to continued market stability in the months ahead. Click here for a full report.

Posted on July 8th, 2011

Just Released. Westchester & Putnam Market Overview 2Q 2011

Since the beginning of the year, we have seen sales rise consistently with historic seasonal patterns. However, the numbers remained below last year's sales surge which was fueled by the federal homebuyer tax credit. Prices can be described as stable due to year-over-year gains, caused by an increase in the sales of larger homes. Listing inventory remains below long-term average levels with negotiability between buyer and seller remaining unchanged since last year. While the Westchester and Putnam housing markets may still be subject to remaining economic challenges including unemployment, tight mortgage lending conditions and distressed sales activity, the regional economy continues to slowly improve. We look forward to continued market stability in the months ahead. Click here for a full report.

Posted on July 8th, 2011

Just Released. Manhattan Rental Market Overview 2Q 2011

The amount of new rental activity has been significantly higher compared to last year. The landlords continued to reduce their reliance on concessions to manage occupancy. Rental rates after considering concessions were higher than last year at this time, and the time to lease an apartment fell sharply. As the regional economy shows modest but slowly improving conditions, the economy will also face many challenges. We will continue to look toward the rental market as a leading indicator for housing, and we anticipate modest improvement in the rental market for the remainder of 2011. Click here for a full report.

Posted on July 1st, 2011

Just Released. Manhattan Market Overview 2Q 2011

Sales of Manhattan co-ops and condos have been rising since the beginning of the year consistent with seasonal expectations. The amount of active listings slipped over the past year and housing prices continued to show stability. Relative to other housing markets across the country, Manhattan continues to be one of the best performing markets to date. While our regional economy is showing a slow pace of improvement, we anticipate the Manhattan housing market to follow the same trend for the remainder of 2011. Click here for a full report.

Posted on April 21st, 2011

Just Released. Hamptons & North Fork Market Overview 1Q 2011

After a significant run of high end sales in 2010, the Hamptons/North Fork market took a breath. Many were anticipating expiration of federal tax cuts resulting in a rush to close by the end of 2010 taking sales from the first quarter of 2011. As a result of the drop in high end sales, price indicators fell and inventory edged higher, even though the market remained stable. Although the market continues to face challenges, we anticipate a very active spring housing market. Click here for a full report.

Posted on April 21st, 2011

Just Released. Long Island Market Overview 1Q 2011

The Long Island housing market showed stability in prices and sales this quarter. Housing prices and the number of sales in the first quarter were at about the same levels as they were at this time last year. The market continues to face challenges with the amount of available inventory, above average unemployment and tougher mortgage lending, yet we continue to see slow but gradual improvements to the market and we look forward to a better 2011. Click here for a full report.

Posted on April 15th, 2011

Just Released. Westchester & Putnam Market Overview 1Q 2011

Although listing inventory has fallen sharply over the past year, overall prices and sales activity remained below last year's levels as the market began to move away from the expiration of the federal homebuyers tax credit in mid-2010. Listing inventory is at its lowest level in six years and properties are selling in about the same length of time as last year. The region continues to face economic challenges from high unemployment and tight credit conditions, yet the market has rebounded over the past few years. We look forward to a stabilizing market in 2011. Click here for a full report.

Posted on April 15th, 2011

Just Released. Queens Market Overview 1Q 2011

The Queens housing market continues to show signs of stabilization. Overall housing prices in the past year are more consistent as is the amount of sales activity in the past several quarters. Prices for both existing and new development sales edged higher over the past year. The region continues to face economic challenges from high unemployment and tight credit conditions, yet the market has rebounded significantly over the past few years. We look forward to continued improvement in 2011. Click here for a full report.

Posted on April 15th, 2011

Just Released. Brooklyn Market Overview 1Q 2011

The Brooklyn housing market continues to improve with prices strengthening across the borough and more sales of existing and new development properties. While sales rose in the co-op, condo and 1-3 family housing markets, increased inventory kept the borough from seeing additional improvement. The region continues to face economic challenges from high unemployment and tight credit conditions, yet the market has rebounded significantly over the past few years. We look forward to a stabilized market in 2011. Click here for a full report.

Posted on April 7th, 2011

Just Released. Manhattan Rental Market Overview 1Q 2011

Rental activity in Manhattan was up sharply compared to this time last year as inventory fell. As a result, rents were higher than last year at this time as landlords reduced their use of concessions. Apartments were rented more quickly than last year as the discounts from list price declined. While the regional economy will continue to face many challenges, we look to the rental market as a leading indicator for housing and look forward to continued improvement in 2011. Click here for a full report.

Posted on April 1st, 2011

Just Released. Manhattan Market Overview 1Q 2011

While there were more sales of Manhattan co-op and condos than last year at this time, overall prices were below last year's levels as the market began to move away from the expiration of the federal homebuyers tax credit in mid-2010. Listing inventory is at its lowest level in three years and properties are selling more quickly than the average pace of the past decade. Although housing continues to face economic challenges from high unemployment and tight credit conditions, the market has rebounded significantly over the last year and a half. We look forward to a healthy and stable 2011. Click here for a full report.

Posted on February 3rd, 2011

Just Released. Manhattan Ten Year (2001-2010) Market Trend Analysis

This much-anticipated study tracks the performance of Manhattan real estate market over a ten-year period. According to the report, in 2010, Manhattan market experienced a remarkably quick rebound from the weak conditions of 2009. Housing prices were generally stable and sales reached their third highest level in a decade, but remaining below the market peak years of 2007-2008. While the economy faces challenges ahead, supply and demand expressed as listing inventory and the number of sales were within 10-year averages for the decade in 2010. This year we look forward to keeping our customers informed about one of the best performing housing markets in the country. Click here for a full report.

Posted on February 3rd, 2011

Just Released. Manhattan Townhouse Ten Year (2001-2010) Market Report

The Manhattan townhouse market has been one of the better performing segments of the Manhattan housing market in 2010. This market represents about 2% of residential property sales in Manhattan and requires a specific expertise to follow and measure its results. Prices rebounded to their second highest result in a decade and sales activity was at its highest level in three years. While prices and sales remained below peak levels set a few years ago, the rapid rebound from the weak housing market conditions of 2009 is impressive. Click here for a full report.

Posted on January 27th, 2011

Just Released. Hamptons/North Fork Ten Year (2001-2010) Market Overview

This recently released study is a comprehensive analysis of the past decade of residential housing sales on the East End. Based on nearly 25,000 residential sales transactions, the report parses out the Hamptons and North Fork by price trends, number of sales, days on market, listing discount, listing inventory, property type, absorption, lot size, price and volume brackets. Click here for a full report.

Posted on January 27th, 2011

Just Released. Hamptons/North Fork 4Q10 Market Overview

East End housing prices and sales activity can be described as stable over the past year. Although the price indicators edged higher in the fourth quarter, there was a noticeable increase in high end property sales. Last year at this time first time buyers were driving the housing market while this year we are seeing a more normal mix of sales. Despite current economic challenges, the East End housing market is closely aligned with Wall Street, which has continued to outperform expectations. Click here for a full report.

Posted on January 27th, 2011

Just Released. Long Island 4Q10 Market Overview

Housing price trends in Long Island have remained stable, despite the slowdown in sales activity caused by last spring's expiration of the federal homebuyer tax credit. Despite economic challenges in the region, listing inventory levels remained below the five-year average and both the time on the market and the difference between list and contract prices were similar to last year. We look forward to more of the same in 2011. Click here for a full report.

Posted on January 20th, 2011

Just Released. Brooklyn 4Q10 Market Overview

The Brooklyn housing market showed continued stability in the fourth quarter and a return to seasonality; something we haven't experienced much of over the past several years. This quarter likely marked the end of the influence of the expiration of the federal tax credit for homebuyers last spring, causing a lull in housing sales at the end of 2010. Despite the challenges facing the regional economy, properties sold more quickly and price indicators were above the same period last year. We look forward to more of the same in 2011.

Click here for details.

Posted on January 20th, 2011

Just Released. Queens 4Q10 Market Overview

Fourth quarter prices edged above levels seen at the same time last year indicating the Queens housing market was better than it was the year before. The decline in the number of sales this quarter reflected a return of seasonality and a comparison to a record-high last year at this time caused by the federal tax credit for homebuyers. Despite continued economic challenges, the housing market continues to show stability. The time it took to sell property and the negotiability between buyer and seller remained remarkably consistent throughout 2010. From where we stand now, 2011 looks like more of the same.

Click here for details.

Posted on January 13th, 2011

Just Released. Manhattan 4Q10 Rental Overview

We are excited to be the first to include rental concessions in our analysis of the Manhattan rental market. Unlike relying only on rental prices, these concessions capture a large part of the change in the market for each period. More than 40% of all rentals in the fourth quarter included a concession and the average amount was one month's free rent. Despite the larger economic challenges facing our market, rental prices have stabilized over the past several quarters and both inventory and the size of concessions are smaller now than this time last year as the market continues to improve.

Click here for details.

Posted on January 6th, 2011

Join me on January 28th for a panel discussion at NY Bar Association

Multifamily Summit presented by Bisnow

With improving fundamentals and assets beginning to trade again, never has it been more important to understand this dynamic market. What is the current state of the New York City multi-family market? Please join me and a panel of leading experts to learn more.

Click here for details.

Posted on January 6th, 2011

The Art of Sale: 2011 Kick-off Event

Join me for an exclusive panel with Walter Levine and Linda McMahon

Every business woman needs to master The Art of the Sale, whether she is selling a product, a professional service...or herself. And learning how to achieve sales success will literally make--or break--your business. If you are a Women in Power--or aspire to be!--this event is just for you. Please join us while we learn together.

Click here for details.

Posted on January 6th, 2011

Real Estate, New York Style!

Join me for a speaking engagement at Real Estate Connect, January 13th, 11:00a.m.

The New York real estate market is unique, but also leads trends that impact the rest of the country. Learn what’s happening here now that can cast light on your 2011.

Click here for details.

Posted on January 4th, 2011

Just Released.

Prudential Douglas Elliman's Exclusive Manhattan Market Report - 4Q'2010

In wrapping up 2010 it is encouraging to reflect on how quickly the Manhattan housing market rebounded since the credit crunch began more than two years ago. Although the economystill faces many challenges, Manhattan's final quarter of 2010 showed a continuation of what we have seen over the past several quarters: stabilized prices, sales activity at seasonal norms and a modest level of inventory. This modest level of inventory has enabled days on market—the number of days between the change in the list price and contract date—to fall from a record high last year to 125 days this quarter, the market average of the last 15 years.

Click here for details.

Posted on December 21th, 2010

The New York Observer, by Kyle Pope

Our Gorgeous Mosaic. The Power 150

While not much good has come from the Great Recession, there is this: It has created an entirely new power dynamic in New York. For decades, the power structure in this city was firmly established, even calcified. The same people. The same agendas. The same outcomes. Which isn't to say that our business, political and culture leaders have been all bad; indeed, under their (usually) benevolent direction, the city thrived, in spite of it all.

Click here for details.

Posted on December 9th, 2010

Real Estate Professionals Reiterate MID Concerns

I am so glad to be in an industry that is showing support for this important consumer issue. Many people count on the deduction when they are considering home ownership.

Click here for details.

Posted on December 1st, 2010

ART OF THE DEAL. Miami social season is also selling season

New Yorkers who regularly visit Miami often talk about how hard it is to get any work done there — how the city's lazy, beautiful people just bounce around to beaches, restaurants, hotel lounges, nightclubs, house parties and boat parties.

Click here for details.

Posted on November 8, 2010

SHOP FOR A GOOD CAUSE

Please join me on November 17th (from 2pm to 7pm) at Prudential Douglas Elliman's 980 Madison Avenue Gallery (between 76th & 77th Streets across from Carlyle) to shop for a good cause. I am so thrilled to have Joan Hornig, a wonderful jeweler and philanthropist, showcase her collection of exquisite pieces. 100% of profits will be donated to THE RETREAT, Domestic Violence Services. To learn more about Joan and her beautiful line, please visit www.joanhornig.com. The RETREAT is one of my favorite charities. Take a look at their efforts in assisting and rehabilitating the victims of domestic violence at http://www.theretreatinc.org/. I look forward seeing you at the event.

Click here for details.

Posted on October 21, 2010

JUST RELEASED, LONG ISLAND AND HAMPTONS/NORTH FORK

MARKET REPORTS 3RD QUARTER OF 2010

The Hamptons/North Fork housing market experienced more sales activity in the third quarter than at the same time last year. Although actual housing prices were stable, our price indicators fell due to the lower number of high-end sales. Those buyers took a breather after the significant run of high-end sales activity over the past year. Listing inventory declined and the time it took to market a property fell sharply. We are in a much better place than we were last year but the economy still faces many challenges. Record-low mortgage rates and improved affordability were the key drivers of demand during the quarter.

read more...

Posted on September 19th, 2010

THE NEW YORK TIMES, by Sarah Kershaw

NEW YORK HOUSING MARKET FLIRTS WITH STABILITY

Dorothy Herman, the president of Prudential Douglas Elliman, said: "It’s going to be a good year for us; people may actually move this year. In 2009 they were afraid to do anything. They would look but wait for prices to drop. People actually pulled the trigger in 2010."

read more...

Posted on August 27th, 2010

THE NEW YORK TIMES, by Vivian Marino

SQUARE-FEET | THE 30-MINUTE INTERVIEW - DOROTHY HERMAN

Ms. Herman, who is known as Dottie, is the president and chief executive of Prudential Douglas Elliman Real Estate, a residential brokerage firm with more than 60 offices in Manhattan, Brooklyn, Queens and Long Island.

read more...

Posted on June 27th, 2010

THE WALL STREET JOURNAL, by Craig Karmin

BROKERS SEEK EDGE WITH LISTINGS

Prudential Douglas Elliman, the city's largest real-estate broker, on Tuesday is poised to do something it's never done before: make available at the click of a mouse not only its own property listings, but also the listings of all its competitors.

read more...