A large number of listings went into contract in March – a welcomed break from the few sluggish months prior.

The good economy kept up the fight with the evil army of rising rates + tax laws, with no clear sign of a winner. 

Greenpoint borders Williamsburg and is in the same rezoning plan as Williamsburg back in 2005.  Because of the G train, Greenpoint really lags its more famous neighbor.  But development there has finally caught on. 

While the stock markets around the world roared to their best January returns since the early 2000’s, the NYC real estate market was subdued in comparison.

With the Hudson Yards development being the
largest planned development in the US in recent times, the project enjoys a warm reception
amongst buyers, especially international investors.

What will the market look like in 2018?  The economy is strong as ever, which strengthens the buyer base who is buying to live in NYC.  The negative effects of the tax bill, along with higher interest rates, will likely deter some of the buyers on the margin.  Who will win this tug of war?

Aside from being an aesthetic masterpiece, its location just south of the Hudson Yards holds
much appreciation potential.

After a soft October, the NYC real estate market did not show further weakening this month, both in terms of prices and marketing time.

How should I buy or sell in this soft Market?

After the market finally awoke from the long summer lull, prices for listings that went into contract and closed in September snapped back. Median Sales Price (MSP) for both in contract and closed listings clocked in at 1.2mm, about the same as before summer, but lower than the average MSP of 2016.

Staying true to the seasonality of the month, the NYC real estate market experienced a downshift in both prices and level of activities.

This month we see a typical summer market, where there are less activities but buyers and sellers who do choose to transact in the summer tend to be more focused. 

The pace of the New York real estate market picked up in June, with just under 1000 contracts signed and over 800 deals closed in the month, demonstrating much more movement than April and May. 

After a very strong first quarter, the NYC real estate market settled down into a slower pace.

The Manhattan real estate market bucked the trend of declining market activities and registered a very strong showing in first quarter 2017, which set an optimistic tone for the rest of the year.