Newsletter VOL.1 - A NEW BEGINNING
Earlier this summer, I had the great opportunity of merging my business, Brooklyn Hearth Realty, with Douglas Elliman. I am very thankful for this! Since 2004, I have worked to grow the business and the reputation of a boutique company- first as an agent and then as a partner. Real estate and running a business came naturally to me and year after year, I became the top producing agent in the company. It became clear that the best way to keep up with the growth of the business was to join a larger firm with bigger resources and support staff. Thank you to my partners Jan Rosenberg and DeAnna Lenhart for thirteen great years of running Brooklyn Hearth Realty! Douglas Elliman is the city’s largest firm, has the most agents and offices, and has consistently done the highest sales volume year by year. The decision to move to Douglas Elliman was one backed by deep research and a responsibility to my network to merge with the absolute best. We took our time, met with all of the potential partners, and were very pleased to find that the industry has so many intelligent kind leaders.
You are only as good as the support team around you, so I want to issue a special thank you to Denise Joseph of Douglas Elliman, my new sales manager. This merger will provide you all, my community, the best possible marketing and exposure for your properties and insight for your buying or renting needs.
As important as it is to explain the countless benefits of joining forces with Douglas Elliman, it is equally important to assure you all as my friends, family, clients, and colleagues that I will still be operating my business with the care and personal touch of a local Brooklyn shop. The only thing that has changed is the built-in reach and increased marketing exposure to best represent and attend to your real estate goals.
Making this decision also made me rethink my branding and business. To reflect my commitment to my services, I have been working closely with Jasmine Takanikos of Candor to shape and build my brand. My website, rebekahcarver.com, is a place to take a deeper dive into my business and offerings.
While Brooklyn will remain my home base, Brooklyn is no longer in the name, so I wanted to take this time to remind you all of my market-wide reach. While it is easy for me to be type-casted as a “Brooklyn broker,” I do have a track record in Manhattan and Queens. Now, with the new resources at my disposal, I look forward to being able to further help you across the entirety of New York City. A great broker is a great broker city-wide, community-wide, and client-wide.
Thank you to my clients and customers for all your business and support. I do love my job and love to help my clients outperform their goals in their real estate transactions.
Market Snapshot – 3Q17
Both year-over- year and quarter-over- quarter, the 3rd Quarter 2017 has underperformed in most of the key metrics such as average sale price and average price per square foot. That said,there are a few unique metrics in which the 3 rd Quarter has improved since last quarter and thistime last year. For example, median sale prices in the resale market are up, now at $995K. Last quarter the figure was at $975K, and in the 3 rd Quarter of 2016, the resale median was $977K. Perhaps an even more important statistic is the change in the absorption rate. 3rd Quarter 2017 registered an absorption rate of 5.4 months, compared to 6 months last quarter and 6.3 months this time last year. This is a sign that demand is continuing to increase while supply is starting to level off, therefore pointing towards a likely upward pressure on pricing and home values in the coming months.
Brooklyn had a less volatile quarter than Manhattan, with very little change in most metrics. Average sales prices are down, but not by a dramatic clip, registering just 1.6% below 2nd Quarter numbers and 0.2% less than 3 rd Quarter 2016. Days on market metrics have improved from a seller’s perspective, down to an average of just 85 days compared to 93 last quarter. Perhaps the most staggering metric, the absorption rate is down to just 1.9 months of supply. This indicates that demand is still incredibly high in Brooklyn, and despite all of the new construction, supply has not yet caught up with that demand. Full 3Q17 results can be seen below!
ON THE MARKEt
338 EAST 7TH ST, B
Kensington — $1,150,000
ON THE MARKEt
415 ARGYLE RD, 3J
Ditmas Park — $700,000
85 Argyle Road
Ditmas Park — $3M