The Blog

March 5, 2018

In recent years, Boerum Hill, along with neighboring Cobble Hill and Carroll Gardens, sometimes referred to as BoCoCa (yes, another broker acronym) has experienced exponential growth in prices driven by buyers' insatiable demand in the area.

In 2017 there were 58 co-op and 118 condo resales in BoCoCa. The co-ops entered contract after an average of 67 days on market with a median sale price of $900,000 (based on an average size...

July 31, 2017

Redfin initially declared its intention to go public earlier this summer and priced shares at $15 with the goal of raising $100 million at a valuation of approximately $1.2 billion. After officially listing on the NASDAQ this past Friday, the stocked surged on the first day of trading and closed at $21.72, 45% above where the day began, giving the company a valuation of over $1.7 billion.

This marks an important event in the re...

July 28, 2017

Sales activity in Manhattan during the second quarter of 2017 saw a promising up-tick, especially in the luxury market, compared to the first quarter of the year. Equity markets, which are typically highly correlated with luxury residential sales in New York City, have plateaued near all-time highs and interest rates remain suppressed despite three interest rate hikes from the Federal Reserve since December 2016. This macroeco...

February 21, 2017

The rental market in NYC, which has long seen average rents higher than almost any other major US City, has softened in the past six to twelve months, especially in the higher end of the market.

The median rent in Manhattan in December 2016 was still effectively higher than it was the previous year: $3,388/month as compared to $3,350. However, factoring in rent concessions and broker fees costs, which owners are increasing will...

January 23, 2017

I'm pleased to share Compass' 4Q16 Manhattan Market Report. This report highlights the prevailing trends shaping the market from this past quarter and provides a glimpse into the research and data analytics in which Compass prides itself.

Highlighting a few trends:


- The total number of closings in the fourth quarter (1,987) was down 36% compared to last year. However, the 2,502 contracts signed in 4Q16 represented a more modes...

October 18, 2016

It is my pleasure to share Compass' 3Q16 Brooklyn Market Report, which looks at the prevailing trends shaping the market from this past quarter and provide a glimpse into the research and data analytics in which Compass prides itself.

• The median closing price for Brooklyn overall set an all-time high of
$850,000, a 16.4% increase over the third quarter 2015. Median closing
prices w...

October 10, 2016

It is my pleasure to share Compass' 3Q16 Manhattan Market Report, which looks at the prevailing trends shaping the market from this past quarter and provide a glimpse into the research and data analytics in which Compass prides itself.

Highlighting a few trends:

- The total number of closings in the third quarter (2,739) was below expectations, down 25% compared to the third quar...

July 20, 2016

It is my pleasure to share with you Compass' 2Q16 Brooklyn Market Report. This report highlights the prevailing trends shaping the market from this past quarter. A few major trends to note from the data:

  • The 2Q16 median closing price was the highest on record for the market overall ($835,000), for the condo market ($900,000), and the highest second quarter on record for the co-op market ($499,250).

  • ...

July 5, 2016

It is my pleasure to share with you Compass' 2Q16 Manhattan Market Report. This report highlights the prevailing trends shaping the market from this past quarter. A few major trends to note from the data:

- The 2Q16 median closing price was the highest on record for the market overall ($1,195,000), co-op ($795,000), and the highest second quarter on record for condos ($1,650,000).

- Absorption is brisk in the Downtown Market, wh...

April 19, 2016

It is my pleasure to share Compass's newest market analysis tool with you. You can now find specific market data through the Compass Market App, which allows you to get an even more in depth read on trends and changes in specific boroughs and neighborhoods. 

 

I personally have spent a large part of Q1 working with multi-family and single family home buyers and I have been struck by how much you can get when you are wi...

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Isil Yildiz Team

 

Compass 

110 5th Avenue

New York, NY 10011

(P) 985-714-4470

isil@compass.com

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Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is not intended to solicit property already listed.