Welcome to the Second Quarter 2018 Corcoran Report, our quarterly comparison of the East End’s residential real estate market. This report uses market-wide data from the Long Island Real Estate Report and is based upon transactions reported from April through June 2018.
In the Town of Palm Beach overall sales rose 16% year-over-year and 43% compared to last quarter. The significant quarterly gain is typical of the spring selling season.
Brooklyn exhibited varied market signals this quarter as buyers continued to endure supply constraints at lower price points and sellers experienced tempered demand at the high-end.
The trend of townhouses undergoing extensive renovations as either a value-add investment, rental income property or even a quick flip continued, but at a slower pace in 2017.