2013 Looking Good for Manhattan Real Estate Market

By
Real Estate Agent with The Corcoran Group

Happy New Year 2013

Upper brosdway,Upper West Side

2012 ended in Manhattan with a very strong real estate market. There was increased activity during the last quarter. One of the busiest holiday seasons I've experienced. Activity was seen in all price ranges from "affordable" to "luxury" activity continued right through the holidays.

2012 ended with extremely low inventory and high demand. Properties priced right are in play. Many first time buyers as well as sophisticated buyers have realized that owning can be cheaper than renting.

With interest rates at all time record lows and rents continuing to rise, there continues to be a strong desire to own a home in Manhattan as both a primary residence and as a good investment. Many foreign investors continue to invest in NYC real estate as one of the safest and smartest places to park their money.

“The consensus is prices are going up,” said Pamela Liebman, chief executive of the Corcoran Group, which reported available listings down 16 percent in the fourth quarter of 2012 to 6,514 — a seven-year low.

 

Sales Gains May Ease
Featuring Corcoran's Q4 2012 Corcoran Report.
The Wall Street Journal - 01/03/2013
   
Manhattan's Housing Market Ends 2012 With a Sales Rush
Featuring Corcoran's Q4 2012 Corcoran Report.
The New York Times - 01/03/2013
   
Manhattan Apartment Listings Plunge in Sign Sale Prices to Climb
Featuring Corcoran's Q4 2012 Corcoran Report
Bloomberg - 01/03/2013
   
Apt. sales spike on tax-hike fears
Featuring Corcoran's Q4 2012 Corcoran Report.
Crain's New York Business - 01/03/2013
   
Big-Ticket Sales the Big News in Manhattan Real Estate
Featuring Corcoran's Q4 2012 Corcoran Report.
New York Magazine - 01/03/2013
   
In Q4 prices steady, as sales volume skyrockets
Featuring Corcoran's Q4 2012 Corcoran Report.
The Real Deal - 01/03/2013

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Gabe Sanders 01/07/2013 03:53 AM
Topic:
Real Estate Industry
Location:
New York New York County Manhattan
Groups:
Market Reports
I Love NY
Real Estate Trends
Posts to Localism
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Tags:
prices
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inventory
2013
manhattan real estate market

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Show All Comments
Rainmaker
1,341,794
Ron & Alexandra Seigel
ra@napaconsultants.com - Carpinteria, CA
Luxury Real Estate Marketing

Mitchell,

Good for Manhattan and especially good for you, we are delighted that you will be experiencing a wonderful year, all the best.  A

January 03, 2013 10:00 AM #1
Rainmaker
1,040,182
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Hello Mitchell. My Mother, of blessed memory, used to say "rich or poor, it's good to have money." Interesting fact base, but good bad or promising, you will always do well.

January 03, 2013 10:22 AM #2
Rainer
16,279
Cara Lam
Gladewater National Bank, NMLS#1009328 - Pinellas Park, FL
Cara Lam, Gladewater National Bank

Congrats!! Wishing you the Best!!!

January 08, 2013 03:48 PM #3
Show All Comments
Rainmaker
509,609

Mitchell J Hall

Lic Associate RE Broker - Manhattan, NYC
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