New York...Beyond Back
New York City real estate has made a solid comeback. 2021 Stats are quite simply, shockingly strong. Manhattan apartment sales sky-rocketed and broke a 30 year long record for sales in the 4th Quarter. Particularly, the height of luxury real estate transactions (2013-2015), was shattered by the nearly 30% higher volume sales in 2021.
- +89% increase in Closed Sales
- +6% increase in Average Sales Price
- $2.01M Average Sales Price
- +78.5% increase in Closed Sales
- +.3% increase in Average Sales Price
- $7.3M Average Sales Price
- Luxury sales nearly doubled from the same period 2 years ago: 1,945 sales.
- Accounted for highest market share of sales in 2.5 years.
- +98% increase in Closed Sales
- +3% increase in Average Sales Price
- $2.74M Average Sales Price
- +82% increase in Closed Sales
- +7% increase in Average Sales Price
- $1.29M Average Sales Price
- Listing inventory fell by its most significant annual rate in 7 years.
- Condo inventory declined at its highest rate in 9 years.
FIELD TEAM FORECASTS: For the next several quarters, above average sales activity is expected as momentum shifts away from the suburbs and international travel returns. INVESTORS will ramp up, fueled by rising rental returns and extended tax benefits, hedging inflation and diversifying funds with Wall Street’s strong year and with a new mayor… all indicate an enhanced and bullish confidence in NYC.
GOOD BYE INVENTORY & HELLO RISING PRICES!