Archives For homes hit by Hurricane Sandy

Analyzing the effects that Hurricane Sandy had over listing prices, we found out that the impact wasn’t as strong as many had feared. On average, the asking prices of the houses remaining on the market dropped just 2%, in the coastal areas of New York and New Jersey states. Overall, the listing prices trend was similar to what it was (-1.5%) over the same period of time (3 months) before Sandy.

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Despite known flooding risks, the waterfront is still the number-one hotspot for people wanting to find a home in Queens.

The Rockaways, Malba and Whitestone have seen several oceanfront homes change hands in 2012 for respectable, even record-breaking, prices. It’s true they don’t come even close to prices paid for the most expensive homes in Manhattan, Brooklyn or even the Bronx, but for the borough, a transaction going above $5 million is something to boast about.

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