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...
Queens, NY Neighborhood Guide from a Real Estate Perspective Queens, known for its diversity, offers a variety of housing options, from modern condos to single-family homes. Each neighborhood has its own character, price points, and advantages. 1. Astoria Pros: Close proximity to Manhattan (15-20 minutes by subway). Trendy with a mix of old-school charm and modern development. Vibrant...
Manhattan, NY Neighborhood Guide from a Real Estate Perspective Manhattan is synonymous with New York City living, offering everything from luxury high-rises to historic brownstones. However, each neighborhood comes with its own unique features, pros, and cons. 1. Upper East Side Pros: Prestigious, with luxury apartments and townhouses. Quiet, residential streets close to Central...
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....
2023 Q3 New York City Real Estate Market Report Overview:The New York City real estate market in Q3 2023 exhibited a mixture of trends, with sales prices remaining relatively stable in most segments, while the rental market experienced continued growth. Sales activity slowed due to rising interest rates, but certain areas, particularly in Brooklyn and Upper Manhattan, continued to attract buyers...
2023 Q2 New York City Real Estate Market Report Overview:The second quarter of 2023 showcased a mixed picture for New York City's real estate market. While sales activity slowed due to continued interest rate hikes and economic uncertainty, prices remained relatively stable, particularly in prime Manhattan and Brooklyn neighborhoods. The rental market continued to thrive, with record-high rents...
2023 Q1 New York City Real Estate Market Report Overview:The New York City real estate market in the first quarter of 2023 faced the ongoing impact of rising interest rates and economic uncertainty. Sales activity continued to slow, particularly in the middle and lower price segments, while prices remained relatively stable in Manhattan and Brooklyn. The rental market continued to thrive, with...