Luxury Report Analysis, 2016 & YTD 2017
The purpose of this report is to highlight prevailing trends in Manhattan’s dynamic $5M+ Cooperative and Condominium marketplace over the past three years, ending December 2016, and provide a glimpse of 2017. We hope to leave you with a clearer understanding of the market and a deeper awareness of the drivers of change.
12 CITIES REPORT
Savills Residential Research is a dedicated team with an unrivaled reputation for producing well-informed and accurate analyses, forecasts, and commentary on all sectors of the global housing market. Its experts advise political parties, government forums, and businesses. Savills also offers a range of bespoke solutions to clients looking to invest in new housing opportunities or maximize existing property assets.
Manhattan & Brooklyn Quarterly Market Report
Manhattan in Third Quarter 2016 was marked by a fall in sales volume, higher prices, increasing inventory and a rise in the average days on market. Resale inventory continued to increase, along with the average negotiability of the borough. Brooklyn in Third Quarter 2016 remained a competitive market evidenced by increases in average and median prices year-over-year, relatively low inventory, and strong velocity.
Current Market Trends in New York City Residential Real Estate
2016 was a turbulent year with dramatic political and economic shifts across the globe. For New York City real estate, last year was (thankfully) less erratic, though the market did see ups and downs. As we look back on the past 12 months, several trends and developments stand out. Here are our top ten takeaways from 2016’s residential real estate market.