Manhattan’s Out-of-State Buyers: Who’s Buying and Where

Posted by:

Manhattan’s Out-of-State Buyers: Who’s Buying and Where

Amid the narrative of New York City residents leaving during the pandemic, a hidden trend emerges — out-of-state buyers investing in Manhattan real estate. Analyzing residential sales over the past two years, excluding purchases through shell companies, reveals a dynamic market.

  • New Jersey residents led the pack, investing $1.48 billion in over 1,400 deals, comprising over 20% of the total sample volume.
  • California followed closely, contributing $1.25 billion across 900 deals, with San Francisco buyers accounting for over 15% of that spending.
  • Florida saw significant investment, with Floridians spending nearly $788 million on 651 homes.

Continue Reading →

0

English

, , , , , , , , , ,

Manhattan Market Pulse: November 2023

Posted by:

Manhattan Market Pulse: November 2023

Here we go with the Manhattan Market Pulse, what’s going on in the Residential Market? 

The contract activity, the number of signed contracts, for the month of October is down 9.8% compared to a year ago and also down 11% compared to the historical average for the month of October. 

The Median Sales Price for a Manhattan apartment is $1.12M and it’s 2% down compared to a year ago. 

The supply, the number of units ...

Continue Reading →
0

English

, , , , , , , , ,

Manhattan Market Pulse: October 2023

Posted by:

Manhattan Market Pulse: October 2023

The monthly contract activity stood at 571 in September, down 13.4%, with 88 fewer contracts signed than last year and 18% with 127 fewer signatures from the 698 historical average for the month. The Median Sales Price is $1,130,000, 2.2% down from last month and 5% down from last year. The supply of units on the market stands at 7,219, down 6.7% from a year ago. While the number of pending sales and units currently in contract stands ...

Continue Reading →
0

English

, , , , , , , , ,

Office space in Manhattan reaches all-time high

Posted by:

Office space in Manhattan reaches all-time high

The office market continues to struggle as available office space reaches a record high in the second quarter. According to Savills, there were 70.3 million square feet of office space ready for leasing, accounting for 19.7 percent of total space, the highest since the start of the pandemic. Leasing activity dropped by 12.1 percent in the first half of the year compared to 2022, and the second quarter saw a significant decrease of 25.2 percent compared to pre-pandemic levels. Lease renewals and expansions ...

Continue Reading →
0

English

, , , ,

South Florida homes start selling at discounts

Posted by:

South Florida homes start selling at discounts

Florida’s luxury residential real estate market has been breaking records with properties selling for never-before-seen prices. However, the overall slowdown in sales has resulted in more price cuts and longer closing times.

Miami Beach is one city where price reductions or discounts are becoming more prevalent, with nearly all $5 million-and-up sales trading at a discount off the asking price. The slowdown in home sales has created a divide between older homes in need of repairs and new or renovated properties, with ...

Continue Reading →
0

English

, , , , , , , , , ,

Page 3 of 3 123