Category Archives: Luxury Listings

Selling in the Current New York City Real Estate Market

According to Crains New York, NYC Apartments for sale remains a mixed bag depending on a person’s point of view. If you are a seller with a property priced between $500,000 and $1 million, then sales remain very brisk with over 75% of all sales occurring in this category. Buyers who have thought of pricing their homes slightly over $1 million may want to consider dropping the price slightly if they are interested in the property selling quickly. The median price for these properties is now at $950,000.

The professionals at TOWN Residential can show you properties that have recently sold in your vicinity and their sales prices. They can also provide you with tips to make your property stand out from the many units that are currently available. These professionals can also help you screen prospective buyers so that you know the people viewing your property are legitimate buyers.

While sales in Manhattan have remained strong their is definitely a trend for properties to remain on the market longer. Over 5,500 units were added in 2015. Prices are up 17 percent over the first quarter of 2015. The reason that this luxury market remains strong is that many of the contracts were signed when real estate prices were near their high in 2014 and 2015. Some developers are not currently listing their new developments waiting for the market to rebound.

The Realtors at TOWN Residential say that those sellers who are looking to sell luxury units need to start by working with the right agent. They can help you position your property so that clients will notice your property. Furthermore, they have a network of people that are ready to assist you with all the details.