2024 Q3 New York City Real Estate Market Report Overview:In Q3 2024, the New York City real estate market remained resilient despite economic uncertainties. Both the sales and rental markets experienced growth, driven by stabilizing mortgage rates and increasing buyer activity. High demand, particularly in the rental market, continued to push prices upward, while the luxury sales market saw a...
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Cost Breakdown for a New York City Condo Seller When selling a condo in New York City, there are several costs to account for. Here's a detailed breakdown: Total Estimated Seller Costs: Agent Commission "Broker Fee": 5% to 6% of the sale price (Now more flexible since August 2024) City Transfer Tax: 1% to 1.425% of the sale price State Transfer Tax: 0.4% of the sale...
2024 Q2 New York City Real Estate Market Report Overview:The New York City real estate market in Q2 2024 was marked by cooling demand and rising interest rates. While the market remained active, growth slowed compared to previous quarters. The sales market experienced price fluctuations as buyer affordability tightened, while the rental market continued to hit record highs due to limited...
2024 Q1 New York City Real Estate Market Report Overview:In Q1 2024, New York City's real estate market faced headwinds due to rising interest rates, economic uncertainty, and affordability concerns. While sales activity slowed, the rental market remained robust, driven by high demand and limited inventory. The luxury segment softened slightly, while mid-range properties saw steady activity,...
2023 Q4 New York City Real Estate Market Report Overview:The New York City real estate market in Q4 2023 reflected a shifting landscape, with rising interest rates affecting buyer behavior while the rental market remained resilient. Home prices across the boroughs showed slight softening as affordability challenges grew. Despite some slowdown in sales, the luxury sector showed resilience....