Manhattan Weekly Market Update - November 5, 2021


Weekly Manhattan Luxury Market Update - Oct 25, 2021


Forty-seven contracts were signed at the $4 million and above, which is only 3 fewer than we had on that previous week.  

Quick Stats: 

- 31 Condo Units with an average asking price of $8.1M and an average $/sqft of $2,999.

- 10 Coop Units with an average asking price of $8.3M.

- 6 Townhouses with an average asking price of $7.7M and an average $/sqft of $1,562. 

- The overall average asking price: $8.1M.

- The median asking price: $5.9M.

- The total average listing discount: 8%.

-The average number of days on the market: 452.

October is starting at a very high pace for contracts signed! There were 184 signed contracts in the past 4 weeks at $4 million and above.  

This past week, for the 14th time this year, there were 40 or more contracts signed at the luxury market price point. 

WOULD YOU LIKE TO KNOW MORE? PLEASE CONTACT US! IT IS OUR PLEASURE TO ASSIST YOU! THANK YOU! 

Fernando & Team

Fernando Branco, GRI, ABR, CNE
PRINCIPAL BROKER
Residential Real Estate
Commercial Sales & Leasing 
Graduate Realtor Institute (GRI) 
Accredited Buyer Representative (ABR) 
Certified Negotiator Expert (CNE)

162 Huntington St, Ste 1R, Brooklyn, NY 11231
c: (212) 321-0115
Working by referral. Let us help you find a home too!!

Comments

  1. fatimashaikhDecember 13, 2021 at 1:36 AM

    Realtor Farmville VA Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic. If possible, as you gain expertise, would you mind updating your blog with extra information? It is extremely helpful for me.

    ReplyDelete
  2. Levi BrydeDecember 19, 2021 at 1:01 AM

    A mortgage broker is a lawyer who serves as a middleman between the borrower and the lender. He gathers all of the borrowers' paperwork, validates the paperwork, and then submits the mortgage application. A mortgage broker is only compensated when the loan has been funded. If you are looking for Mortgage Brokers Kawartha, visit the Mortgage Intelligence website.

    ReplyDelete

Post a Comment

Popular posts from this blog

NYC Sales Market Strengthens in April!!

Image
April Market Reports: 3 Important Takeaways to Share With Your Clients May 30, 2019 OVER 1,000 MANHATTAN HOMES ENTERED CONTRACT IN APRIL. According to the  StreetEasy April 2019 Market Reports,  the New York City sales market may be strengthening. This news comes after months of weakening prices across the city, rising share of price cuts and growing days on market. Read on for three takeaways from our most recent report that will offer you and your seller encouraging signs. Nearly 1,200 Homes Entered Contract in Manhattan This April The context:  The number of pending sales in Manhattan rose by 26.6% year-over-year to 1,193 in April. That marks an annual increase of more than 250 and the most homes to enter contract since 2015. Upper Manhattan saw a lot of contact activity with pending sales doubling to 132 from 66 the year before. Washington Heights and Central Harlem led the charge with 53 and 29 homes entering contract, up by 104% and 53%, respectively. The takeaway:  M
Read more

Manhattan’s 2016 Narrative – 5 Main Themes to Know

Manhattan’s 2016 Narrative – 5 Main Themes to Know 2016, the year of normalization… After five straight years of progressive reflation in Manhattan residential real estate (2010-2015), buyers finally saw the leverage pendulum swing their way. Of course, just how much leverage a buyer gained still heavily depends on the price point. What’s happening at the high end is drastically different than what’s happening at the lower end. Lets discuss before the firms Q4 market reports are released. Here are the 5 themes you need to know about Manhattan’s 2016: Read more...
Read more

Legal Line Question: Ground Leases

February 18, 2016 Q:  I am a licensed real estate salesperson and I am representing a purchaser who is considering a co-op apartment in a building that has a Ground Lease. Can you please clarify exactly what a Ground Lease is? Also, are there any particular considerations that should be made before purchasing a co-op apartment in a building that has a Ground Lease? A:  If a co-op building has a Ground Lease (also known as a Land Lease) it means that the co-op corporation does not own the land under the building.  Rather, the co-op corporation leases the land from the owner of the land. About 100 buildings in Manhattan have Ground Leases, many of which are co-ops. Generally the terms of Ground Leases are quite long, varying from terms of 50 to 99 years. Several important considerations should be made before purchasing a co-op apartment in a building with a Ground Lease: Can the rent payable by the co-op corporation increase during the term of the Ground Lease?    If the re
Read more