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Navigating the NYC Real Estate Landscape
Market research insights in real estate are invaluable references for anyone looking to navigate the dynamic property market. The insights we offer will include understanding of market trends, buyer preferences, and property values, empowering individuals, investors, and professionals to make informed decisions.Â
Whether you're a prospective homebuyer, a real estate agent, or an investor, market research provides crucial data on sales volume, pricing dynamics, and neighborhood shifts. By relying on such insights, we can help you can pinpoint the most promising investment opportunities, identify emerging hotspots, and develop effective strategies for buying or selling property. In an ever-changing real estate landscape, our market research will serves as a compass, helping stakeholders navigate the market with confidence and precision, ultimately leading to more successful transactions and investments.
Manhattan
The median selling price for homes in this market currently stands at $1,172,500, showcasing a notable 6.9% decrease compared to the previous year. Moreover, the number of homes that found new owners amounted to 540, representing a substantial decline of 44.6% year-over-year, indicating a potentially more selective or competitive real estate environment. Additionally, the median duration that properties spend on the market has seen an increase of 23 days compared to the previous year, possibly suggesting shifts in buyer and seller dynamics in this real estate landscape.
Brooklyn
In August 2023, the middle ground for home prices on the market in Brooklyn, New York, stood at $780,000, marking a 2.4% decline compared to the previous year. The median price per square foot for listed homes reached $697, while the median price at which homes were sold settled at $790,000.
Bronx
Exploring the Bronx, New York housing market, we find that in August 2023, the midpoint figure for homes listed on the market was $339,000, reflecting a notable 9.6% decrease compared to the previous year. Additionally, the median price per square foot for listed homes stood at $330, offering insights into the property's size-adjusted value. Furthermore, the median price at which homes were successfully sold amounted to $550,000, underlining the market's transaction outcomes for residential properties during that period. These statistics provide a snapshot of the current real estate landscape in the Bronx, NY, showcasing price trends and market dynamics.
Staten Island
In September 2023, when evaluating Staten Island housing prices based on the number of bedrooms, distinct trends emerged in comparison to the previous year. Specifically, the home prices for 1-bedroom residences witnessed a modest decline of 1.7%, while 2-bedroom homes experienced a lesser decrease at 1.1%. Furthermore, 3-bedroom homes exhibited a relatively slight reduction of 0.9%, and 4-bedroom homes saw a more notable drop of 5%. In contrast, 5+ bedroom homes bucked the downward trend, demonstrating an increase in value by 1.8%, showcasing the diverse dynamics within the housing market for varying bedroom configurations.
Queens
During August 2023, the midpoint figure for homes listed on the market in Queens, New York, held steady at $588.3K, exhibiting no significant change compared to the previous year. The median price per square foot for listed homes was $550, offering insights into the property value based on size. Furthermore, the median price at which homes were successfully sold amounted to $615K, showcasing the market's transaction outcomes for residential properties during that period.
