Real Estate News from March 2021

  • Elegran Insights: Weekly Manhattan Market Data For The Week of 03/29/21 By Jared Antin | March 29, 2021

    The fourth week in March saw pending sales hit the 4,000 mark, setting a new long-term record with the month on pace to set a record for contract activity. The last week of the month had more than 300 contracts signed in Manhattan, while overall supply decreased. The market pulse increased to 0.57, approaching sellers market territory.

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  • Rethinking the Listing Price By Jared Antin | March 25, 2021

    Why we should stop focusing on the ASKING price and start focusing on the SOLD price. Price smarter, which can mean lower, to get a larger audience, more competition and a quicker sale

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  • Elegran Insights: Weekly Manhattan Market Data For The Week of 03/22/21 By Jared Antin | March 22, 2021

    Manhattan had the third straight week with more than 300 contracts signed and total supply increased by nearly 1%. Total supply is being held in check by sustained strong contract volume. The overall market pulse increased slightly to 0.55, indicating a continuation of leverage shifting towards the seller in the resale market.

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  • What to Expect When Pricing Your NYC Home By Sarah Cusack | March 22, 2021

    Nobody likes to put a price tag on their home, a place that holds so many precious memories. But it is one of the most important decisions that you will make throughout the selling process. Not only do you need to consider the house's amenities and location when setting a price but also the current market trends, the home's sales history and more. Understanding how to properly price your home is key to a successful home selling process.

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  • The Luxury Market is attracting New Customers This Year By Sarah Cusack | March 18, 2021

    Buyers used to care about how close their apartment was to work or if the neighborhood had a good nightlife. But with the pandemic many buyers care more about square footage, office space or outdoor space. This shift in buyers priorities due to the pandemic has caused for there be an increase in interest in the luxury real estate market. The renewed interest in the luxury market combined with record low mortgage rates has driven the luxury market to have one of its strongest years since 2008.

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  • Elegran Insights: Weekly Manhattan Market Data For The Week of 03/15/21 By Jared Antin | March 15, 2021

    This week the Manhattan market had more than 300 contracts signed for the second week in a row. While overall supply continues to decline, the weekly new supply is increasing, as is seasonally expected. As such, the overall market pulse was unchanged at 0.54. Whether or not overall supply continues to decline in the weeks ahead, as new inventory comes on the market, will depend on how long buyer demand will continue at the current levels. Overall, the Manhattan market is in a healthy place.

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  • Elegran Insights: Weekly Manhattan Market Data For The Week of 03/08/21 By Jared Antin | March 08, 2021

    The Manhattan market continues to accelerate as buyers are increasingly motivated to transact given the recent jump in interest rates. Liquidity has returned to the Manhattan market and the market pulse for the sub $2M market has entered sellers market territory. Market-wide, overall supply, despite an uptick in new weekly supply, continues to decline each week largely due to robust contract activity. The overall market pulse rose to 0.54 this week.

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  • Elegran Manhattan Market Update: March 2021 By Jared Antin | March 04, 2021

    The Manhattan market continues to strengthen and leverage is shifting from buyers towards sellers. As demand continues to outpace supply, the market pulse is increasing, and coupled with rising interest rates, there is an increased sense of urgency. Month-over-month, contract activity is up and supply is down. Year-over-year contract activity is up 30% while supply is up only 10%. Buyer activity is increasing across all price ranges, and most notably, it is increasing the fastest in the luxury market, indicating a recovery in the luxury segment.

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  • Pick the Right NYC Neighborhood For You! By Sarah Cusack | March 03, 2021

    Moving to New York City is an exciting decision but many people do not understand just how diverse the city is. Each neighborhood throughout the five boroughs has its own unique feel and community. When trying to pick the perfect neighborhood for you there are many different factors to consider. Price, location, community and outdoor space are just some of the many decisions that can help you determine which neighborhood is right for you.

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  • Elegran Insights: Weekly Manhattan Market Data For The Week of 03/01/21 By Jared Antin | March 01, 2021

    The Manhattan market continues to strengthen and leverage shifting from buyers towards sellers. As demand continues to outpace supply, the Market Pulse rose to 0.51.

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