01/06/2012
Happy New Year. Hopefully 2012 will be a great year for everyone. I wanted to give you a quick update on the final quarter of 2011 in NYC real estate market.
Here is what we know:
- Condo prices were up due to lack of inventory.
- Co-ops prices held their ground.
- Overall, the number of listings were down.
- As always, properties that were properly priced did sell, and at times had multiple offers.
- Overall sales volume was down. Although mortgage interest rates are at an all time low, the difficulty in obtaining financing further contributed to the decline.
As always, please feel free to contact me if I can help you in any way and continue to follow my page for more updates.
