2013 Looking Good for Manhattan Real Estate Market
Mitchell Hall has found numerous articles predicting a banner year for the 2013 Manhattan real estate market. I only hope that the success of certain high end markets will trickle down to those of us in the rest of the country.
Happy New Year 2013
2012 ended in Manhattan with a very strong real estate market. There was increased activity during the last quarter. One of the busiest holiday seasons I've experienced. Activity was seen in all price ranges from "affordable" to "luxury" activity continued right through the holidays.
2012 ended with extremely low inventory and high demand. Properties priced right are in play. Many first time buyers as well as sophisticated buyers have realized that owning can be cheaper than renting.
With interest rates at all time record lows and rents continuing to rise, there continues to be a strong desire to own a home in Manhattan as both a primary residence and as a good investment. Many foreign investors continue to invest in NYC real estate as one of the safest and smartest places to park their money.“The consensus is prices are going up,” said Pamela Liebman, chief executive of the Corcoran Group, which reported available listings down 16 percent in the fourth quarter of 2012 to 6,514 — a seven-year low.
Sales Gains May Ease
Featuring Corcoran's Q4 2012 Corcoran Report.The Wall Street Journal - 01/03/2013 Manhattan's Housing Market Ends 2012 With a Sales Rush
Featuring Corcoran's Q4 2012 Corcoran Report.The New York Times - 01/03/2013 Manhattan Apartment Listings Plunge in Sign Sale Prices to Climb
Featuring Corcoran's Q4 2012 Corcoran ReportBloomberg - 01/03/2013 Apt. sales spike on tax-hike fears
Featuring Corcoran's Q4 2012 Corcoran Report.Crain's New York Business - 01/03/2013 Big-Ticket Sales the Big News in Manhattan Real Estate
Featuring Corcoran's Q4 2012 Corcoran Report.New York Magazine - 01/03/2013 In Q4 prices steady, as sales volume skyrockets
Featuring Corcoran's Q4 2012 Corcoran Report.The Real Deal - 01/03/2013
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Mitchell Hall, Associate Broker
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