Hi!
In this month of May, New York City is really feeling alive. The warm weather brought everyone out and the streets are busier than ever. Hard to believe that just two years ago in May the city was a ghost town. Now, the restaurants are packed and people from all over are coming into the city to enjoy all the fun activities. It really has been an unbelievable turnaround. April 2022 showed strong results vs. April 2021. Although number of sales decreased, the median sales price increased by 12% market wide with a decrease in supply by 16%.
The LivNY team had a fantastic month. It's not too much of a surprise as we were ready to list a lot of apartments for sale and take advantage of the strong selling season. We have 8 properties in contract waiting to close, 7 on the market, and 4 new listings coming soon. We've been very busy around here! We are recommending to our sellers to not wait for the Fall to list. Current buyers in the market who have committed to NYC are trying to lock in their interests rates while they can and rental prices have soared to the point where it makes sense for buyers to buy vs. rent. As always, free free to reach out with any of your real estate needs.
Wishing you and your family a happy and safe Memorial Day weekend!
All the best,
