Real Estate News from April 2021

  • Elegran Insights: Weekly Manhattan & Brooklyn Market Data For The Week of 04/26/21 By Jared Antin | April 26, 2021

    This week, 382 contracts were signed in Manhattan, exceeding last week and setting a new record for the most contracts signed in a week since 2015. There have now been eight weeks in a row with more than 300 contracts signed in Manhattan.

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  • What are real estate comps and how to get them By Sarah Cusack | April 22, 2021

    Whether you are buying or selling a home, a real estate comp can help you understand how much your property is worth. Factors such as square footage, building type and layout can cause major price differences in real estate comps between two properties. Understanding what a real estate comp is and how to properly use it to your benefit can help you save money during the real estate process.

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  • Elegran Insights: Weekly Manhattan & Brooklyn Market Data For The Week of 04/19/21 By Jared Antin | April 19, 2021

    Manhattan is officially a Sellers Market again, as the Market Pulse rose to 0.65. This week, 347 Manhattan contracts were signed, setting a record for the most weekly contracts since 2015. There have now been seven weeks in a row with more than 300 contracts signed in Manhattan.

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  • What does the projected increase in mortgage rates mean for you? By Sarah Cusack | April 19, 2021

    Obtaining a mortgage when buying a home is one of the most important steps in the overall buying process. Over the past few months mortgage rates reached a record breaking low of 2.8% on February 10th. These low rates have been projected to increase over the next few months, but what does this increase mean for you?

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  • 4 Tips When Bidding on a NYC Apartment By Sarah Cusack | April 13, 2021

    Bidding on an apartment can be a competitive process due to there being many buyers in the market trying to snatch up a piece of New York real estate. When you put in a bid do you choose to play it safe and go high or risk losing the apartment and go low? Increasing the down payment, getting pre approval and writing a personalized letter are all great ways to grab the attention of the seller.

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  • Elegran Insights: Weekly Manhattan Market Data For The Week of 04/12/21 By Jared Antin | April 12, 2021

    The first full week of April brought the sixth week in a row of more than 300 contracts signed. Additionally, new supply this week increased 55% from last week. Nevertheless, the Market Pulse has risen to 0.62 given the robust buyer activity.

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  • Elegran Manhattan Market Update: April 2021 By Jared Antin | April 09, 2021

    March 2021 sets a record for the most contracts signed in a month in Manhattan since March 2007, and is the second highest month on record since 2004. Monthly new supply also hit a decade high.

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  • Tips For First Time Buyers in NYC By Sarah Cusack | April 08, 2021

    Finding an apartment in New York City can be a daunting task and it can be difficult to figure out where to start. You want to get the best apartment possible, but trying to find the perfect apartment for the right price can be overwhelming. Having a plan made that includes your ideal price, timeframe, and more can help you find your dream apartment faster.

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  • “How’s the market doing?” By Kevin Huang | April 05, 2021

    Too often, I am asked by clients and friends "how's the market doing?" To answer this question, my immediate reply is “it depends.” It depends on "which neighborhood, price point, property type, size, new development vs. resale, etc.?"Simply put, buyers and sellers who want to understand "the market

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  • What’s Driving Buyer Demand? By Kevin Huang | April 05, 2021

    The recent buying frenzy has been driven by a few catalysts that affect the buyer psyche. The catalysts are as follows:Positive media sentimentThe media drives buyer psychology whether we like it or not. Since the pandemic started a year ago, media outlets shed quite a negative light on NYC real est

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