2015 Final Quarter Manhattan Real Estate Trends

The leading New York real estate firm TOWN Residential, specialized in luxury real estate services for NYC apartments for rent, recently released their fourth quarter analysis. The report a consistent rise in price action and the soft patch has yet to stagger down the line and hit the market.

By the end of the year, price per square foot was reaching record high levels reaching 6.2% higher than the year before. This confirmed the year over year growth and also showed an 8.4% rise from the previous quarter.

With this middle sales price, including the nearly 20% increase, Manhattan condos showed the biggest growth. While other areas are averaging roughly $1,505 per square foot, Manhattan is averaging roughly $1,606. Manhattan co-op sales are also up, previously they came in at $1,217,017, and the fourth quarter saw a jump to $1,272,902. When the properties were looked at by size, the report showed growing price trends in nearly all areas in the final quarter of the year.

Over the past year, Manhattan has seen a growing gap between newer development sales and the resale market. While the area shows a boost in the area, this is largely attributed to the areas trophy listings in new developments. The resale market is seeing a stabilization as sellers are now adjusting their prices from the peak levels hit earlier in the year. This has made it so the end of the year is simply a soft patch instead of a systematic downshift.

TOWN Residential says that they are still seeing sales at record prices which are helping add to the year over year gains. New York City overall had 7,963 units, including condos, on the market, 4,326 of those were located in Manhattan.

The power in the market is still shifting to the buyer, who is often more cost careful in their approach to any purchase, this combined with the quarters sharp increase in median days on the market, has changed the way things are moving. Buyers are now aware of their options and are not willing to pay any price for their purchases.

Hague Wants to Change How Real Estate is Sold

Greg Hague, of Scottsdale, Arizona is an entrepreneur first of all, but he is heavily involved in the real estate market. Part of his being a business man is shaking things up, and with his new company, Real Estate Mavericks, he hopes to change some things. In an article published on the Forbes website, he talked about his “22-step Home Launch Formula and 29-Day Fast Sale Plan” as two main ways to change things.

He said the way homes are sold has not changed in 75 years, and he wants the market to adjust to the times. Instead of just listing a house, having an open house, and hoping a buyer shows up, he wants to use more modern sales techniques. He said his program would build excitement about a home before it even gets listed. His research shows current marketing results in a 3 to 8 percent drop in home prices, below the asking price.

Before the home is listed on the market, he would like to have a pre-launch marketing campaign. He would have “drip feeds” of information about a great home coming soon into the market, to create curiosity and interest. He would also show some potential buyers the property in advance. He said people like this sort of thing, and these people are more likely to pay a higher price than if the home had already been on the market for awhile.

He suggest real estate agents send out private messages to other agents, to let them know the house will soon be on the market. This might encourage them to help arrange private showings for potential, and already qualified, home buyers. If they like the home and want it, they are more likely to pay a higher price, or be more agreeable to the asking price. He also says homes that sit unsold for a long time tend to make would be buyers think something is wrong, or it makes them think the price should be lower.

He said real estate agents accidentally hurt sellers by doing things the way they have always been done. “They’ve just never been exposed to the kind of price maximization strategies used by top retail and online marketers, and how those techniques could be applied to real estate,” he said in the article.

His company, Real Estate Mavericks” is not a real estate company. He coaches real estate agents and agencies on his methods to change the way real estate is sold. His main two programs, 22-step Home Launch Formula and 29-Day Fast Sale Plan, are the main programs his company offers. It also offers coaching to real estate agents, to teach them his programs.

He also writes a blog offering tips to his new way of doing real estate business, and has a live program on his website to help people learn his system. Hague is part motivator, and teacher, as he tries to help real estate agents catch his vision of changing the way homes are sold in America.

New York City Is Changing

In the past, it was somewhat difficult for people who wanted a home in the city to find something that would suit their needs as well as their budget. This was a big deal for many people who wanted to live in the city but were never able to because of the price or lack of available living space in the city. While things may have been difficult in the past, there are major changes that are coming to the city for improvement over the way that real estate is being handled in the city.

By taking a look at this article from The New York Times, we can see the way that New York real estate is changing. There have been record-breaking prices in the city and these have made people want to move further into the city. They have also been able to see a big improvement in the way that things are being done in the city. There have been many new living developments created in the city and these have allowed more people to be able to move into the city that there was in the past. These records are something that New York City has never seen before.

It is clear to see that right now is a prime time for purchasing in New York City, but having an expert real estate agent available to help you with your real estate needs is a necessity in the way that people can find a home in the city. If you are looking for a new home in New York City, it is essential that you get a real estate agent who can provide you with the best options for homes as well as prices that you would not be able to find on your own without their help. Town Residential is that real estate company.

Town Residential has worked with many people who have different needs when it comes to their apartment and city living. They have worked with people who need certain luxuries and people who want to stay within a certain price point. They are able to provide their services in all of the boroughs and can find you a residential piece of property no matter where you are looking. They are dedicated to the clients that they serve and guarantee that they can find something for anyone, no matter what you are looking for.