New York market is growing every year! On a year-over-year basis overall Manhattan rents have climbed 1.9% from $3,762 in January 2013 to $3,833 in January 2014. The most significant increase during this period has occurred in Harlem as average prices in the neighborhood increased 9.4% from $2,191 to $2,397.... more
Firstly I wasn't clear on the question so I will give two answers for the two ways I understand the question. If you are asking why are record sale prices decreasing? One reason could be that people have been buying available well priced properties and their is more scarcity. If you are asking Why sale prices are decreasing that would be because the market is turning around.
Hope this helps
Lord and Andra
I absolutely agree with Adina and Anna. All that put together plus an agent on your side who knows local market. As a matter of fact the agent can do all that for you.
If you need advise or an agent, feel free to contact. If I can't help myself I can recommend the best agents working in Washington Heights.
I'd say a great deal of Brooklyn within reasonable commute of Manhattan. Indeed, I've specialized the last few years in, as I say, "moving people across the bridge." The best bet in my opinion are single family homes. The supply is low and the demand is high. Indeed, I sold one (an estate sale) in Clinton Hill Brooklyn the increased in value about 50% in just a couple of months AND was appraised at time of sale for 20% more than sale price. A solid investment for sure, provided you find the right place at the right price. I am always on the lookout for good ones for my customers, many of whom live there and others who look to flip or rent out.
Sr. Vice President
Charles Rutenberg Realty
Licensed Real Estate Sales Agent