condo rentals

Brooklyn’s median resale price increased 3.8 percent year-over-year to $560,493. North Brooklyn was the only submarket where median resale price fell (-2.9 percent year-over-year); Northwest Brooklyn resale prices rose the most (7.8 percent year-over-year). Brooklyn’s median rent decreased 0.2 percent year-over-year to $2,819. Price growth in Manhattan’s sales market plateaued at the end of the year as competition tempered across the borough, according to the Q4 2016 StreetEasy Market Reports [i] . In Manhattan, median resale price grew 0.7 percent year-over-year to $983,205 in the fourth quarter, the slowest annual quarterly growth since Q4 2010 [ii] . Almost 40 percent of all Manhattan sales listings had a price cut in the fourth quarter and Manhattan sellers received a median of 97.4 percent of their asking price, compared to almost 100 percent last year. Manhattan’s pending sales fell 3.7 percent year-over-year and homes spent 64 days on market, an increase #propertymanagement of 10 days since last year. “Manhattan’s housing market over the past few years has been at the mercy of climbing luxury prices,” said StreetEasy economist Krishna Rao.

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