June 17, 2020

With NYC poised to enter Phase Two of the NY State reopening plan on Monday, June 22, real estate showings and other activity will resume. We anticipate a surge in new listings in the next few weeks and will monitor the market closely for pricing trends. In the meantime, here is an update on the first half of June:

Negotiability


The most recent Compass negotiability survey, which tracked offers made in Manhattan and Brooklyn...

May 19, 2020

As the first few regions of New York enter Phase 1 of the State’s re-opening plan, I wanted to share some data on where the NYC real estate market is now, and what we may see in the second half of 2020. 

Current Market Conditions

Since the “NY on PAUSE” order began on March 22, agents have been extremely limited in their ability to list, market, and show properties. While some transactions have taken place, most have been closin...

January 25, 2020

While prices and sales volume declined again in the final quarter of 2019, Q4 actually saw the lowest rate of decline since the fall of 2017. An uptick in activity in the last month of the year -- and another drop in interest rates at the start of the year -- hopefully leads to further stabilization in the first half of 2020. Our analysis is below, along with links to Compass’s Q4 Market reports for even more data and details.

...

September 15, 2016

Sunset Park is one of Brooklyn’s most diverse neighborhoods, with an old world, friendly vibe that residents love. The park itself serves as the perfect centerpiece for the surrounding row houses, amazing Chinese and Latin American restaurants, and offers beautiful views. Industry City and the Brooklyn Army Terminal also have begun to offer industrial co-working spaces that promise to bring the same arts and design professiona...

August 16, 2016

Bed-Stuy has seen a dramatic upswing in the real estate market over the past few years years. In the last three years specifically, the average price per square foot for the neighborhood has risen from $275 at the end of the first quarter of 2012 to $468 in the end of 2015. However, an average price per square foot of $495-$525 per square foot (depending on building type) is still almost half of Fort Greene’s $885 per square f...

July 14, 2016

Prospect Heights has largely already seen its big boom - while prices will still slowly rise, over the past 5-7 years the area has already close to doubled in valuations. A 1 bed coop will run $550-650,000, a 2 bed $700-850,000 depending on size, and all the newer condo developments are much higher. Crown Heights has also already seen a huge rise in prices in the western areas of the neighborhood (around Franklin/Bedford/Nostr...

January 6, 2015

After the typical holiday-lag in the market, new listings have been slow to hit the market, with eager buyers fighting over meager new inventory. I recently put a one-bedroom on the market in Hamilton Heights, which was the first new listing in the area since October. It was a first-floor apartment that needed some upgrades but we ended up with several offers within hours of the first open house.

Fourth Quarter Results confirm...

June 5, 2014

The Second Quarter Corcoran Reports for Manhattan and Brooklyn are in!

 

Here are a few of the key findings for Manhattan:

  • Inventory Starting to Turn Around.  Although the number of properties listed for sale remains very low (52% below the peak in Q1 2009), we are starting to see more of them.  Inventory rose for the second quarter in a row.

  • Limited Supply Buoys Prices.  The continuing depressed level of available...

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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.