Numbers Don’t Lie: Examining Manhattan’s Real Estate Climate

Manhattan real estate prices continue to rise, according to the latest edition of The Aggregate, the report published by most notable luxury NYC real estate on townrealestate firm, TOWN Residential. Originally reported on Virtual Strategy Marketing, the data from The Aggregate indicates the steady rise towards record level prices on various types of property in the city.

In general, the average price a property sold for in Manhattan in 2015 was %1,976,660, a 5.2% rise from the previous year. Condos were the overall leader in price increases, with 20% price gains translating to a median sale of $1,736,250. Price per square foot netted an increase of 11% from the year before. Co-ops saw an increase of about 6.4% overall and a 6.3% increase in terms of square footage.

The Aggregate and TOWN Residential credits the growing numbers of quality real estate properties for the increase in average prices and price per square foot. Perhaps being sold at lower prices, the overall number of units being sold are higher, which pushes the average price up. In Manhattan, there are 4,326 properties up for grabs, with prices ranging from under $2 million, to luxury locations going for upwards of $10 million. It is a buyer’s market, with those considering purchasing new properties feeling unwilling to break the bank to acquire them. Prices must be adjusted accordingly, a strategy which, according to the numbers reported, seems to be working in favor of the bottom line. The balance is expected to continue throughout 2016, with more properties being available to buyers at a reasonable price, and more units being sold throughout the city.

New York Becoming Easier To Access

With New York City being one of the biggest home living destinations for people around the world, it can tend to get crowded. The city has long been filled with residents and it has been hard for newcomers to find a home in the city without having to worry about paying a huge price or sacrificing things that they need in a home environment or an apartment. This has been because of inflation in the city as well as a lack of space because there are too many people and not enough living buildings for people who want to come to the city. This is all about to change.

Finding great real estate in New York City Apartments for ren t is all about using the best real estate agent. People who use a great real estate firm will be able to see all of the options that they have when it comes to the way that they are looking for a home. They are also able to see everything in the way of options when it comes to the type of home they are looking for. Town Residential is a real estate company that gives all of its clients the options that they desire for a home.

The New York Times article highlights the ways that New York real estate is changing. In the recent years, the city has become easier to access and it is becoming cheaper to find a home in New York City. Whether you are looking in Manhattan or any of the other boroughs, you will be able to find many different options that are affordable for nearly anyone who wants to live in the city. By finding out about the record-breaking deals in the city, you are giving yourself a chance to see everything that it has to offer.

Town Residential will be there for every step of the record-breaking and new record-making prices and available living options in New York City. The company makes sure that they are able to give their clients the best of all worlds when it comes to their living arrangements. While the company is based in Manhattan, they are able to provide their services to the people who want to live on other boroughs. The company guarantees that they will be able to find their clients at least a little bit of everything that they want in their home or New York apartment.