Brooklyn Weekly Market Report, S&P 500 And Nasdaq Rally Friday To Cap Best Week In 2024, Inflation Cooled In August, Keeping The Fed Poised To Cut Rates

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New and Noteworthy

Brooklyn Weekly Market Report

The Brooklyn luxury real estate market, defined as all properties priced $2M and above, saw 17 contracts

signed this week, made up of 7 condos, and 10 houses. The previous week saw 14 deals. Average asking price in this category was $3.4M,

contributing to $57,842,000 in total sales volume. Average discount was 2% and avg DOM was 69.

(See Full Report Here)

S&P 500 And Nasdaq Rally Friday To Cap Best Week In 2024

Stocks rose on Friday, with the S&P 500 and the Nasdaq Composite posting their strongest week of 2024 ahead of the upcoming Federal Reserve meeting.

The S&P 500 climbed 0.54% and closed at 5,626.02, less than 1% from its July all-time high. The tech-heavy Nasdaq Composite added 0.65% to end at 17,683.98.

(Read Full)

Inflation Cooled In August, Keeping The Fed Poised To Cut Rates

Consumer Price Index inflation continued to cool, reaching a new three-year low. But signs of stubbornness lingered under the surface. Inflation continued to recede in August, paving the way for the Federal Reserve to lower interest rates for the first time since early 2020 at their meeting next week. (Read More)

Team News

Pickleballing

Last week, Ramzis competed in The Compass Sports and Entertainment's Pickleball Tournament. He only picked it up a couple months ago and he made it all the way to the semifinals! Congrats Ramzis!

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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Brooklyn Weekly Market Report, S&P 500 And Nasdaq Rally Friday To Cap Best Week In 2024, Inflation Cooled In August, Keeping The Fed Poised To Cut Rates

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