New York Condo Sales Report - Sports and Entertainment Division

The 3rd Quarter in the Manhattan area showed a stabilization in condo prices and sales that has not been seen in several years; this is certainly good news for investors and those looking to move to the NYC area.

Pending sales rose 4.9% from a year ago, and available listings dropped from 7,726 to 5,847.

The hottest ticket on the market with regards to condominiums was one-bedroom apartments, as their market share rose from 32% to 37.8% of all sales. The median sales price dropped 2.3% to $890,000, a much smaller drop than has been seen in the past.

Also encouraging is the fact that there were 2,952 sales in the 3rd Quarter, the second highest total since 2008.

All in all, the market is showing very favorable signs in and around New York City, good news for professional athletes and entertainers who might be thinking of moving to the Big Apple.  Add to these statistics the fact that interest rates continue to hover at record-low levels (3.34% of 30-year and 2.67% of 15-year mortgage) and you have some solid ingredients indicating a much-healthier buying market.

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The Sports Relocation team is waiting to hear from you. Our primary goal is to assist you with all of the challenges related to transitioning into your new home. Visit us at http://www.SportsRelocation.com or call us at 800-783-1421