The investment market reports are a great indication of sales within the city of Manhattan. When they go up, the market is doing well. When they fall, it is not doing well. The investment sales in Manhattan’s market went down in 2017 during its first quarter. Here is a basic breakdown of the details of the market reports for the best real estate investments.
The Residential and Luxury Sales
There were fourteen contracts which were signed in 2017 within the first quarter alone. These are just the luxury home contracts (Tevfik Arif Doyen) that were signed within that time frame. There are other investments to consider when evaluating the viability of the market in the area. In the last week of the year, there were fourteen contracts that were valued at $4 million or greater in valuation. According to the big authority in this field of reality, CityRealty Bayrock, the average Manhattan luxury condo sells for $2,788 a square foot. An increase of 3.4 percent was the typical average during the year, that is an increase over the last decade. Again, this is just luxury sales.
New York is well known for being one of the most diverse populations of homeowners in the nation. It makes it one of the best places to live in the nation. The retention of home values is beyond compare. The profit margin is amazing for anyone considering investing in real estate.
Most home owners will buy a … Read More