Category / Market Trends

Manhattan is Out, Brooklyn is In

Finally there is evidence to support a fact that most New Yorkers have known for a long time—Brooklyn, not Manhattan, is the place to be. According to Douglas Elliman’s first quarter report, the Manhattan real estate market may have finally plateaued after two years of steady price growth. Meanwhile, Brooklyn is high in demand, with the median sale price up 17.5% year-on-year. If you are thinking about crossing the river, you are obviously not alone. The Elliman report reveals that the median sale price in Manhattan was down -.2% in the first three months of the…

Don’t Look! Apartments You Could Afford if You Didn’t Live in New York

Searching for an apartment in New York can be a stressful ordeal, especially if you are on a limited budget. Sometimes if you’re feeling really down in the dumps about your apartment search and are mildly masochistic, it can be fun to look at your current budget for rent in New York and imagine what sort of apartment this much money would buy you elsewhere in the world. This is even more painful now given the strong dollar. For example, say you have about $700 a month to spend on rent in New York….

New York City’s Real Estate Market Heats Up

With a full week of 40 degree weather upon us, it’s about time for New York’s real estate market to heat up. Because finding the right apartment is hard enough without having to trudge through a foot of snow and subzero temperatures, the high season for buying and selling property in New York is mid-March through September, when the weather is warmer and families try to move before the start of the school year. Let’s take a look at what buyers and sellers can expect in the coming season. According to a fourth quarter…