The New York Real Estate Market Starts To Climb – What Now?

NEW YORK - July 9, 2013 - PRLog -- In 2Q 2013 bidding wars and all cash offers have become common trends in this real estate market. This has definitely become a seller’s market.  In a report by Miller Samuels released this week with Elliman, the overall market shows a 5.2% average sales price change from $1,425,000 to $1,354,000 in this year.

Manhattan Boutique Real Estate’s (MBRE) President and Licensed Real Estate Broker, says “Our market of 1 bedroom condominiums shows AT LEAST a 10% increase from 1Q to 2Q 2013”. While MBRE likes to see the macro perspectives of the reports, what is relevant to their buyers and sellers are issues on the micro level depending on building and location.

To cite actual examples of this, MBRE refers to their recent experience at 2 luxury condo Manhattan buildings- one east side, one west side, both excellent buildings and desirous locations. “At the Link Condo, 310 West 52^nd St, our clients locked into a 1 bed slightly under $1m in January 2013. Currently, that same C Line apartment on the 15^th Floor is asking $1.180m and getting lots of activity. On the east side at the well-known Savoy Condo at 200 E 61th St, a typical 1 bedroom was around $1m just 2-3 months ago. Now, in July, the same 1 bedroom lines are asking and getting between $1.1-1.3m”.  Joan Brothers, President, MBRE

With all these numbers, new trends and changes, what should you do to navigate the complex Manhattan real estate market? – Find a guide, better yet, a trusted real estate brokerage.

Manhattan Boutique Real Estate (MBRE) is your local expert for New York City (NYC) Real Estate. We are a professional one-stop, full service boutique real estate firm that understands and guides buyers, sellers, landlords and renters through the ever-changing NYC market.  Our understanding of global and local client’s needs sets us apart from other brokers in Manhattan.  We personalize our service to your unique needs and get the best results for you. Always accessible, with a phone call, Skype or email, we can open up a whole new world of possibilities.