A report from Real Estate Weekly on New York. "The challenging market in Brooklyn has continued along a trend of gradual declines in prices and sales. Prices have fallen since this time last year across all unit types excluding co-ops, according to a report by Douglas Elliman. 'Brooklyn has for 5-6 years been a success story, a global brand, but it still responds to supply and demand,' said Jonathan Miller, real estate appraiser and CEO of Miller Samuel. 'Buyers are plentiful, but they’re wary. It’s on sellers to come down to market conditions.'"

"Overall the rental market is robust and Citi Habitats President Gary Malin suspects it will stay that way as long as would-be buyers remain on the fence about their next moves. 'People are feeling that now is not the best time to jump in and they want to time it perfectly,' said Malin. But, he added, 'That doesn’t really happen. You never really know when the market is about to bottom out and you may find that you missed out on a great opportunity because you waited too long.'"

From Bisnow. "Last year, there were a few rays of sunshine for New York City’s challenged hotel market. 'We got in the second half of last year, and all of a sudden there was a little bit more optimism in the market,' Newmark Knight Frank co-Head of Lodging Adam Etra said. 'We came into the first quarter of this year and it was really ugly. The prevailing theme from late last year, early this year to today is people called the bottom way too early.'"

"The development pipeline remains bloated, and there is shadow inventory in the form of Airbnb and other home-sharing services. As a result, next year should continue to be soft from an operating perspective, sources said."

The Real Deal on Florida. "The Miami luxury condo market remains in a rut due in part to sellers overpricing properties, according to top residential real estate brokers. 'If you look at the market today, even though there has been an increase in prices, there is also an increase in days on the market,' said Oren Alexander, co-founder of Douglas Elliman’s The Alexander Team. 'That has a lot to do with bad prices. We have to make sure sellers really understand where pricing is.'"

"Phil Gutman, president of Brown Harris Stevens Miami said whenever he sees a media headline about a luxury condo selling for a 30 percent discount, he thinks, 'It shouldn’t have been listed at that [high] price in the first place…you wonder what were they thinking? What were they smoking?'"

From ABC 7 News in California. "One of the most expensive homes in Silicon Valley just went through a massive price cut at now 55-percent less than it's original $88-million asking price. Tucked privately away on eight-acres 27500 La Liva Real in Los Altos Hills is a 21,000 square foot estate that could easily be mistaken for a resort."

"When the property first hit the market in 2015, the owner, the founder of a tech company, listed it at $88-million. Today the price is reduced 55-percent to just under $40-million. CEO of Deleon Realty, Michael Repka says while there is still a pool of buyers from the Bay Area many in the five-to-10 million dollar range are choosing to retire out of state."

"'The market has definitely softened up and with the tax changes in the state and local tax deductions has had quite an impact on Silicon Valley,' Repka said."

The Los Angeles Times in California. "Is another record in the cards for Casa Encantada? The Bel-Air home of financier Gary Winnick — a 40,000-square-foot 1930s-era trophy perched above the Bel-Air Country Club — has twice set the record for highest price of a residential real estate sale in the U.S. Now, the storied estate is listing for sale at $225 million, making it the most expensive home publicly listed in the United States."

"But the estate, graced with ionic columns and formal gardens, arrives on the market in the midst of a downturn. After years of record trading, the high end has cooled this year. Single-family home sales on the Westside of Los Angeles are down about 16% year over year, while sales of $10 million and $20 million or more are down about 20% and 25%, respectively."

"Overall, residential and multifamily sales across L.A. County have experienced an even greater dip. As of September, there were 968 transactions of $5 million or more this year, down from 1,204 transactions during the same period last year, a drop of 19.6%, according to Zillow. Sales of $20 million or more have declined by more than two-thirds (109 transactions as of September 2019 versus 352 transactions during the same period in 2018)."

"One of the growing problems on the Westside: a market flooded with contemporary mansions built on speculation, with new ones entering the market each day, and a buyer pool that has remained static. 'It is not unusual to start seeing a glut of supply in any property type, mansions included, this late in an expansion cycle,' UCLA real estate professor Paul Habibi said. 'Oftentimes [developers] have a herd mentality about introducing more inventory into the market.'"

"'The conventional wisdom is that so long as you’re not the last one without a seat when the music stops, you’ll make out OK,' he said."