Dorchester Towers Condo July 2015 Market Report Infographic
The first half of 2015 has been of the year has been very steady. We are seeing both sellers and buyers have reacted to the continued lack of supply within the re-sale condo market.
The overwhelmed 2014 market created a trend where we saw and continue to see un-realistic sellers and Real Estate agents push prices to a level where buyers backed away until either a fair market price adjustment or sky high expectations cooled off.
Qualified buyers have been bidding away at the most select properties once they come available and sellers have achieved strong pricing with.
In today’s market, new construction condo market is a hot segment of the market place. For brand new renovations or recent renovations, buyers will pay a premium and the likelihood of multiple offers is at its highest.
To summarize about the remaining year of 2015, with continued low Inventory levels, still historically low mortgage rates for those that need financing, and an overall confidence in Manhattan New York as a global safe haven, all indicators of a healthy and active Real Estate Market.
We are Morgan Evans and Eileen Hsu, we are also Dorchester condo owners.
Or send us an email at Morgan.Evans@elliman.com