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NYC Sales Monthly Market Update – January 2021

Introducing the monthly sales market update! Here’s a look at some key numbers for January 2021 in Manhattan and Brooklyn.

Click here for the full Manhattan Snapshot

Click here for the full Brooklyn Snapshot

A couple of key points:

  • The market is officially in recovery mode, at least where signed contracts are concerned, with strong year over year growth.
  • But it’s a NEUTRAL market – buyers still have a lot of advantages, namely higher inventory and lower asking prices. But they’re NOT fully in the driver’s seat!
  • Don’t be fooled by higher average prices. Those are likely ticking upwards due to a higher number of transactions occurring at higher price points. ACTUAL prices are still a mixed bag. There’s still big discounts for luxury properties, while townhouses and 2 or 3 bedroom with outdoor space are on fire. There’s also lots of great value opportunities for smaller apartments like studios and 1 bedrooms, especially in Manhattan

Want info about a specific area or market segment? Contact me!

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Related posts

NYC Market Sales Update Q4 2020 – Manhattan & Brooklyn
February 22, 2021
NYC Rental Market Update December 2020
February 5, 2021
2021 NYC Real Estate Market Predictions
January 22, 2021
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Equal Housing Opportunity

We are committed to upholding the principles of all applicable fair housing laws. For more detailed information regarding fair housing, please visit https://www.dos.ny.gov/press/2020/docs/FairHousingNotice_new.pdf

Nikki R. Thomas, Licensed Associate Real Estate Broker, The Corcoran Group 888 Seventh Avenue, New York, NY 10106 | 212-937-1647

This website is not the official website of The Corcoran Group or its affiliated companies, and neither The Corcoran Group nor its affiliated companies in any way warrant the accuracy of any information contained herein. Any property or services offered for sale on this website shall not be considered an offer to sell such goods or services in any state other New York

 

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