Residential Market Reports

NYC | January

Information sourced by UrbanDigs.

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NYC | November 10th – December 14th

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brooklyn residential market report

Information sourced by UrbanDigs.

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NYC | October 10th – November 9th

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Information sourced by UrbanDigs.

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NYC | September 8th – October 9th

manhattan residential market report

brooklyn residential market report

Information sourced by UrbanDigs.

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NYC | August 8th – September 4th

Over the past month in New York City, our firm’s activity remained consistent with numbers similar to Q1 2020 (pre COVID levels).

The current report shows that we are seeing our average sales price hovering around the $1,350,000 price range which is an increase from the previous Market Report which averaged around $1,200,000. Closings over $2,000,000 were approximately 10% of our total transactions, which is in line with our prior Market Report.

Chaves Perlowitz Luftig LLP saw a steady decline in the last 3 Market Reports between the average listing price and the final accepted offer. Currently, we are seeing a 4.2% discount, whereas the prior Market Reports, we were at 5.7% and 7.5%, respectively.

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Brooklyn | August 8th – September 4th

Over the past month in Brooklyn, Chaves Perlowitz Luftig LLP saw a rise in activity similar to the levels we were seeing during Q1 2020 (pre COVID levels).

The current report show activity in the $1,100,000 price range, which is an increase from $990,000 in the previous Market Report. Contracts over $2,000,000 were roughly 5% of our total transactions which is similar to our last report.

Lastly, there was a 1.2% discount between the average listing price and final accepted offer price which is a drastic change from the prior Market Reports, of 7.2% and 7.5% respectively.

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NYC | July 10th – August 7th

In New York City, over the past month, Chaves Perlowitz Luftig LLP saw a significant rise in activity similar to activity during Q1 2020 (pre COVID levels).

Our report shows that consistent with our previous Market Report, we are seeing significant activity remain at the $1,200,000 price range; however, we have signed 12 Contracts over $2,000,000 as compared to only 3 Contracts in the prior Market Report.

Finally, we are seeing a decline in the discount between the average last listing price and final accepted offer price. This report we found a 5.7% discount, whereas on our last Market Report we were at 7.5%.

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Brooklyn | July 10th – August 7th

In Brooklyn , over the past month, Chaves Perlowitz Luftig LLP saw a significant rise in activity similar to activity during Q1 2020 (pre COVID levels).

Our report shows that we are seeing activity in the $990,000 price range; however, we have have signed 3 Contracts over $2,000,000 as compared to 0 in the prior Market Report.

Finally, the average last listing price and final accepted offer price remained consistent with our last report. This report we found a 7.2% discount, whereas last month we were at 7.5%.

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Brooklyn | June 20th – July 17th

In Brooklyn, over the past 3 weeks, Chaves Perlowitz Luftig LLP has seen a significant pick-up in activity with numbers slightly below average pre COVID levels.

We have seen a trend with the majority of activity at the $1,200,000 price range with a few exceptions.

Also, we are seeing a 7.5% discount between the last listing price and the final accepted offer price with an average purchase price of $839,972.22.

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NYC | June 20th – July 10th

From the beginning of the Pandemic thru May, new deal activity, compared to average pre COVID levels was down approx. 87%. As time went on, from May 1st to June 19th, we saw a slight tick up in the market, with our levels being 67% down from average pre COVID levels.

Over the past 2 weeks, we have seen a significant pick up in activity with numbers slightly below average pre COVID levels.

We have seen a trend with significant activity at the below $2,000,000 price range.

Also, we are seeing a 6.9% discount between the last listing price and the final accepted offer price with an average purchase price of $1,163,822.22.

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NYC | May 30th – June 19th

As we enter Phase 2 in NYC, Chaves Perlowitz Luftig LLP would like to provide you with an analysis of some of our new residential deals between May 30th and June 19th. ⁣

From the start of COVID-19 to May 1st, new deal activity was down roughly 87%. However, from May 1st to May 15th, we saw an increase in activity where volume was down approximately 67%. Since that time, volume remains at 67% of pre COVID-19 numbers. Also, from May 1st to June 19th, there has been consistently an 8% discount between the last listing price and the accepted offer price.

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NYC | May 16th – May 29th

Since our last CPL Market Report two weeks ago, new residential deal activity remains consistent. However, we been speaking to more and more Sellers that are getting ready to list their apartments as well as Buyers that are trying to gauge the market prior to making offers.

We view this activity as a positive sign in our market. Overall new residential down activity is down about 67% from pre COVID-19 transactions.

In today’s Chaves Perlowitz Luftig LLP Market Report, we highlighted the new transactions along with the discounts between the last asking prices and the accepted offer prices. Overall, we are seeing approximately a 7.9% discount between these figures.  Also, consistent with the last Chaves Perlowitz Luftig LLP Market Report, the vast majority of our transactions are not sight unseen and include mortgage contingencies.

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NYC | May 1st – May 15th

In the last two weeks, we have seen an uptick in accepted offers of residential purchases and sales. Previously, our new deal activity was down about 87% as a result of COVID-19, however currently we are down about 67%. Here is a snapshot of a portion of our new deals. This data shows that pricing for most homes has been discounted and the vast majority of transactions are NOT sight unseen.

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