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Market Update

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What’s Going on in the New York Real Estate Market?

Today I want to take some time to answer a few questions about the New York real estate market. My guest for this is discussion is Sean, who had a bunch of great questions for me to address. I answered these questions in detail on Facebook Live and in the video above, so for convenience’s sake, I’ll be providing timestamps below so you can skip around to the sections that most interest you:

0:40- The hottest type of property in the city and the forces that are driving them.

2:30- The segments of the market that aren’t selling as quickly as the others.

 

"Watch the full interview in the video above."

 

4:35- Pricing data for some of the hottest areas of the New York market.

5:50- Where to start if you’re looking to break into the market as a first-time homebuyer.

9:15- The best place to get the most accurate value of your home in today’s market.

Thank you for taking the time to listen to our discussion. If you have any questions about the market, buying or selling a home, or how find out your home’s value in today’s market, you can always give me a call or send me an email. I’d be glad to help you out.

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I’ve Seen It All in NYC

Today we’re going to talk about something a little bit different. Instead of giving you an update on the real estate market, I want to talk about growing up in New York City and how I’ve seen the market change over all these years. 

When somebody asks me where I’m from and I say “New York,” I usually have to qualify it by telling my whole story. To save you some time in the future, here it is. 

I was born in New York in 1980 and my mother and I moved around a lot. We lived in places like Ditmas Park, Midwood, Park Slope, and even downtown Brooklyn. I moved away for college, then I came back and lived in Brooklyn. I live in Manhattan today and I love it.

 

"I remember when New York wasn’t the same kind of place that it is today."

 

It’s been amazing to see how the city has transformed over the years. For example, my father bought a townhouse in Chelsea in 1982 for $240,000 and sold it three years later for $500,000. Today, that thing is probably worth $10 million.

I remember NYC when things weren’t so expensive or sought after as they are today. There was more crime, more dilapidation, and less to do. Now, a different kind of dilemma is starting to emerge. With rising property values, so many mom and pop businesses have gone away. When that happens, like it already has in Times Square, you don’t see the same kind of growth as you do in other areas.

If you’re curious about values in your specific neighborhood or you have any other questions about New York real estate, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.

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