The New York City luxury real estate market is one of the most vibrant in the world, and the city ended 2015 on a high note. This article explains how the New York real estate market will function in 2016, what TOWN Residential will do in the city and how residents are living in a market good for both sellers and buyers. Real estate in New York has been volatile over the past year, but stability is coming in 2016.
#1: Prices Will Stabilize
The prices in New York have stabilized for 2016 after ending 2015 at record highs. There are were many buyers in 2015 who bought quickly to avoid rising prices, but 2016 will see prices that remain stable for long periods of time. Anyone who is interested in buying real estate in 2016 will see prices remain high without changing.
#2: Developments In Brooklyn And The Bronx Will Be Key
Home buyers in New York will find new condos and apartments in Brooklyn and the Bronx that provide an amazing quality of life. These boroughs lie outside the crazy traffic and population of Manhattan, but these properties have high inherent value. New buildings offer better amenities for buyers, and buyers may take the train into the city easily.
#3: There Are Many Old Homes Ready For Sale
There are many old and historic homes in the city that are available for sale in 2016. These lovely homes have become the cornerstone of business at TOWN Residential, and every one of these homes provides a much better alternative for homeowners who do not want to live in Manhattan. There is no need to spend extra money to live in an apartment when the same amount of money will pay for a home in one of the outer boroughs.
TOWN Residential has made several predictions for real estate in New York that will likely ring true in 2016. The city is growing quite a lot, but prices have finally settled down after a year of rising rates and large investments that broke records seemingly every month. Stability has finally found is place in New York.