market Archives - Page 3 of 11 - Rava Realty

Manhattan Luxury Market Reality Check

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With this report, we are going to tell you at what prices luxury properties are actually closing and what was their actual negotiability factor, anybody interested in getting a discount?

There were 83 closings at $4 million and above in July 2022, 57 less than June. The Average Closing Price was $8,478,817 up +15%, meanwhile, the Median Closing Price was  $5,867,000 down -3.8%. The Negotiability Factor, that is the average discount from the last asking price, was 3.16% practically unchanged from the 3.19% registered during the ...

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Manhattan real estate rental market update

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The net effective median rent (face rent minus landlord concessions) surged +33.4% year over year to $4,100, exceeding the $4,000 threshold for the first time and reaching a new high for the seventh consecutive month. While the net effective average rent, up +31.5%, reached $5,051, exceeding the $5,000 threshold for the first time ever.

As a result, the market share of landlord concessions fell to 12.8%, down -26.3% from the same period last year, the lowest level ...

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Increase in listings calms frenzied NYC sales market

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Increase in listings calms frenzied NYC sales market

The frenzied pace of the New York City sales market is calming down, a result of more listings on the market and slowing demand. With less competition, buyers have gained some breathing room—they can take a day or two to make an offer—something not possible in recent months.

It’s not exactly a swing from a seller’s to a buyer’s market, at least not yet—it’s more like a nudge.

You can expect a slower pace to return this summer, when the market usually ...

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Miami April 2022 New Signed Contracts

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“Newly signed contracts for single families declined month over month for the first time in 2022. In addition, condo new signed contracts fell for the second time. However, the jump in mortgage rates took some of the edge off of still elevated demand, enabling seasonal expansion of new single family listings.”

(data source: millersamuel.com)

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The Great Rental Market Comeback

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There were 4,494 New Lease Signings in Manhattan in the month of April -50.5% compared to the same period last year, but that was due to the distortion of surging inbound activity last year as the market woke up post pandemic.

Bidding Wars accounted for more than one in five new lease signings, with a 21.3% market share and a 10.7% average premium above the landlord’s last asking price.

The Median Rental Price was $3,925, up +31.9% from April 2021, ...

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Manhattan Luxury Reality Check

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There were 121 closings at $4 million and above in January 2022, 50 less than December. The Average Closing Price was $8,111,567 down -18%, meanwhile, the Median Closing Price was $6,125,797 down a nominal -0.4%. The Negotiability Factor, that is the average discount from the last asking price, was 4.55% down from 6.62% during the previous month. The pace of the market was basically unchanged since the Average Days On the Market were 155 compared to 153 for the properties that closed ...

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