My clients deserve an ideal home that suits their lifestyle, fulfills their needs, simplifies their lives and makes them happy. Whether buying or selling, my goal is to help them get there. – Steve Segretta
New listings for apartments in various Brooklyn neighborhoods are up substantially in September over August and prior peak listing months during the spring. That should have implications for apartment demand and pricing. Please call for more information and to discuss.
Signed contracts fell 3% last week, but remained 56% higher than a year ago. Resale contracts rose 6% from the prior week, while new development deals fell 33%. Units priced between $3 million and $5 million posted a 50% jump in signed contracts, the most of any price range. Upper Manhattan contracts were up 44% last week, the largest gain of any market area.
The number of available units for sale in Manhattan tumbled 14% at the beginning of September, contributing to a 23% drop in months’ supply to 4.7-months. The months’ supply for condos declined 22% to 5.2 months, while co-ops, at 4.4-months, decreased 24%. The West Side remained the tightest market with a 3.6-month supply of apartments for sale.
Brooklyn apartment prices averaged a record
$965,575 in the second quarter, as demand remained
incredibly strong. Closings more than doubled
compared to a year ago, and were also up 26% from
2021’s first quarter. The number of contracts signed
during the second quarter set a new record.
You can view the full report by clicking the photo above.
#segrettahomesales #brooklynbrownstonesales #nyc2shore #segrettarealestate
Manhattan Q2 2021 Market Report
Apartment closings surged in the second quarter, rising 38% from just the first quarter of 2021. Sales were 129% higher than a year ago-understandable given COVID-19’s impact on 2Q20-but still an incredible comeback in just a year’s time.
All price levels saw a big jump in sales, especially resale apartments priced over $5 million. This rush of luxury closings helped bring the average resale price up 21% from the prior quarter, to $1,720,606.
It’s important to note that the rise in the average resale price doesn’t mean that prices are rising for all apartments. Anytime you have an abnormally high amount of luxury resales-220 CPS had four with an average price of $53.4 million-it can have a disproportionate impact on the overall average price. The median resale price, which measures the middle of the market, was just 4% higher than 1Q21.
The big takeaway is the market is back big time, and with a record number of contracts signed in the second quarter, expect closings to continue to increase in 3Q21. The removal of most COVID-19 restrictions, and the return of Manhattan office workers will give our economy a huge boost, which should continue to keep buyers coming to Manhattan.
You can view the full report by clicking the photo above.
Brooklyn Townhouse Update. Here is our townhouse update for the first half of 2021. Apartment and townhouse sales were strong throughout the spring and into the summer. The outlook remains positive. Call for more information or assistance.
https://media.bhsusa.com/pdf/1H21_TH_MR2-Bklyn.pdf https://segrettahomesales.com
#segrettahomesales #brooklynbrownstonesales #nyc2shore #segrettarealestate
Here’s my Market Update for April 2020, including some research and articles. Enjoy and please let me know if you have any questions or need real estate assistance.
#segrettahomesales #brooklynbrownstonesales #nyc2shore #springbridgeadvisors #segrettarealestate #brooklyn #nycrealestate #nycrealestateagent #movetowhatmovesyou #christiesinternationalrealestate #nycluxuryrealestate #luxuryrealestate #luxuryhomes #realestatenyc #nyc #streeteasy #leadingrealestatecompanies #brooklynrealestate #townhouse #parkslope #prospectpark #parksloperealestate #springlakenj #springlakerealestate #monmouthcountyrealestate #jerseyshorerealestate #brooklynbrownstone @curbed @brownstoner @brickunderground #openhousenyc #nytimes
Here are some great events in NYC during the month of March. Enjoy and please let me know if you have any questions or need real estate assistance.
#segrettahomesales #brooklynbrownstonesales #nyc2shore #springbridgeadvisors #segrettarealestate #brooklyn #nycrealestate #nycrealestateagent #christiesinternationalrealestate #nycluxuryrealestate #luxuryrealestate #luxuryhomes #realestatenyc #nyc #streeteasy #leadingrealestatecompanies #brooklynrealestate #townhouse #parkslope #prospectpark #parksloperealestate #springlakerealestate #brooklynbrownstone @curbed @brownstoner @brickunderground #openhousenyc #nytimes
Here are some great events in NYC during the month of February. Enjoy and please let me know if you have any questions or need real estate assistance.
segrettahomesales #brooklynbrownstonesales #nyc2shore #springbridgeadvisors #segrettarealestate #brooklyn #nycrealestate #nycrealestateagent #christiesinternationalrealestate #nycluxuryrealestate #luxuryrealestate #luxuryhomes #realestatenyc #nyc #streeteasy #leadingrealestatecompanies #brooklynrealestate #townhouse #parkslope #prospectpark #parksloperealestate #springlakerealestate #brooklynbrownstone @curbed @brownstoner @brickunderground #openhousenyc #nytimesere
Happy New Year! Here are some great events in NYC during the month of January. Enjoy and let me know if you have any questions or need real estate assistance.
hashtag#segrettahomesales hashtag#brooklynbrownstonesales hashtag#nyc2shore hashtag#springbridgeadvisors hashtag#segrettarealestate hashtag#brooklyn hashtag#nycrealestate hashtag#nycrealestateagent hashtag#christiesinternationalrealestate hashtag#nycluxuryrealestate hashtag#luxuryrealestate hashtag#luxuryhomes hashtag#realestatenyc hashtag#nyc hashtag#streeteasy hashtag#leadingrealestatecompanies hashtag#brooklynrealestate hashtag#townhouse hashtag#parkslope hashtag#prospectpark hashtag#parksloperealestate hashtag#springlakerealestate hashtag#brooklynbrownstone @curbed @brownstoner @brickunderground hashtag#openhousenyc hashtag#nytimes