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The National Association of Realtors reports that total existing-home sales dropped, nation wide, 8.5% in March. Despite the decline, home prices are still steady. The median existing-home price in March was $280,600, UP 8.0% from the same period in 2019. Total housing inventory at the end of March was down 10.2% from one year ago.
Many sellers had withdrawn their ...
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Condo sales in Miami-Dade County began to drop last week.
A total of 61 condos sold for $41.5 million last week, amid the coronavirus pandemic. That is compared to 102 units that sold for $54 million the previous week. Condos last week sold for an average price of about $680,000 or $397 per square foot.
The most expensive closing was at Fendi Chateau Residences in Surfside. Unit 806 sold for $6.9 million, or $1,538 per square foot, after 510 days on the ...
Continue Reading →Finally after two years of low volumes in the sales market, the first quarter of 2020 showed an increase in closings as sellers became more realistic about pricing.
It must be said that this trend, given it is based on closed sales, doesn’t fully reflect the most recent changes of the market conditions related to the coronavirus pandemic.
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We can replace the fear with the facts. The NYC real estate market has proven over the last centuries to be one of the safest and sought markets in the world and will be able to overcome this too.
Here follow excerpts from the analysis on the US real estate market of experts Brian Buffini and Lawrence Yun (Chief Economist at the National Association of Realtors):
We have faced many, many different crises in the past as a country.
No matter what, this is going to be a shorter-term situation than what ...
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On Thursday, Cuomo said mortgage payments and foreclosures in New York will be suspended for 90 days in light of the pandemic. There will also be a grace period for loan modification, no negative reporting to credit bureaus and no late or online payment fees for the next three months.
Evictions are suspended indefinitely. New York state has suspended eviction proceedings and pending eviction orders until further notice.
Some lawmakers want to suspend construction in the city during the outbreak both to ...
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The Waldorf Astoria’s condo conversion continues to move forward. Three years after closing its doors for its transformation, the iconic hotel has launched sales for its 375 condo residences. The new residences will range from studios starting at $1.7 million to four-bedrooms starting at $18.5 million.
Back in 2014, the developers bought the Waldorf for $2 billion, and in ...
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