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| In April, while showers may bring May flowers, at Compass, we're showering you with exciting updates and opportunities in real estate! As the housing market blossoms alongside spring, we're here to navigate the latest trends, listings, and tips to help you find your dream home. So, grab your umbrella and join us on this journey filled with sunshine and the promise of fresh starts. |
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| | New York City’s Housing Crunch Is the Worst It Has Been in Over 50 Years |
| The New York City rental market faced its tightest conditions in over five decades, with only 1.4% of rentals available in 2023, the lowest rate since 1968. This scarcity was especially pronounced in lower-cost apartments. The data underscores the urgent need for housing solutions, as high demand continues to outstrip construction, impacting affordability across income levels. |
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Manhattan’s Luxury Housing Market Logs Best Week Since May |
| Last week saw a surge in Manhattan's luxury housing market, with 40 contracts signed for homes priced at $4 million or more, totaling $290.27 million. The most expensive deal was for a $46.75 million condo on the Upper West Side. This uptick marks a significant increase from previous weeks and highlights the robust demand for high-end properties in the city. |
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| | When Is The Best Time To List Your New York City Property? It Depends |
| New York City real estate market to understand seasonal forces and market conditions before listing their properties. It highlights three key factors affecting the current market: lower deal volume, downward price action, and a cold listing climate. Sellers are cautioned against aspirational pricing and are encouraged to price their properties accurately to attract buyers. |
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| | Worship the planet on Earth Day |
| Head to Earth Day Initiative's annual festival at Union Square on April 16 (12-6pm) to meet dozens of environmental non-profits and green businesses, learn about climate campaigns, hear speeches, and take part in interactive workshops. Click HERE for more information! |
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| | | | | The Macy's Flower Show heralds the arrival of spring in NYC, featuring stunning floral arrangements with this year's theme in partnership with Dior. Visitors can explore fragrant installations and magical garden displays at Macy's Herald Square from March 24 to April 7, marking the start of the city's spring festivities. Click HERE for more information! |
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| | When Selling Your Home, Don’t Try To Conceal These 7 Problems |
| Be honesty about its condition is crucial to avoid trust issues, disputes, and legal consequences. Disclose structural, water, pest, electrical, environmental, and legal issues to maintain a positive reputation and ensure a smoother transaction. Taking a proactive approach by hiring a home inspector and addressing any problems discovered can help avoid pitfalls. |
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| New Development around Columbia University! |
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| | 1 BD 2 BA 1004 SF $1,915,000 |
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| | | | 1 BD 1 BA 875 SF $1,700,000 |
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| | | | 1 BD 1 BA 706 SF $1,210,000 |
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| | 1 BD 1 BA 621 SF $979,000 |
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| | | | Studio 1 BA 542 SF $975,000 |
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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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