Deanna Kory, Licensed Associate Real Estate Broker, The Corcoran Group
660 Madison Avenue, New York, NY 10065
Email: dek@corcoran.com
Phone: (212) 937-7011
Just Released: Monthly Market Snapshot
March 2015
March led off the spring buying season with price increases market-wide fueled by persistent demand and continuously low supply. Every price metric and bedroom category for both condos and co-ops saw annual increases with some significant gains. While condo units saw a slight 2% inventory increase, co-ops have 8% fewer listings than a year prior blending to 2% fewer listings market-wide. Contracts signed remained strong, particularly among co-ops. One bedrooms had an increased share of sales compared to March 2014, making the large price gains even more remarkable. 54% of sales this month sold at or above asking price, a result of the increasingly tight market, particularly for co-ops.
Days on market reflected the condo/co-op markets slight divergence with average time to sell a unit up 13% for condos but down 10% for co-ops. Inventory remains very limited, especially among resales, co-ops, and units under $5M. Over 1,800 new development units are anticipated to launch in the next three months with more than 1,100 units at entry and midmarket levels of under $2,300 per square foot, which will bring much needed new supply to the market.
There are many ready, willing and qualified buyers looking to purchase right now, but with limited inventory they can't find the right property. You may be surprised by what your home is worth in this market. If you're interested in a confidential evaluation of your property I would be happy to help. Please call me at 212-937-7011 or email at dek@corcoran.com.
Regards,
Latest News
Avenue Magazine
MadMen and Women of Real Estate
April 2015
Deanna joins her fellow top agents of Corcoran and CEO Pamela Liebman for Avenue Magazine's Mad Men and Women of Real Estate. Perfectly timed to circulate after the last episode of the show! The top brokers in the city get into character of the era. What a fabulous spread!
Click here for the full article.
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