Town Residential’s Unbelievable Success

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The goals that Town Residential have set as a real estate agency are extremely unrealistic. They are something that cannot be expected to be achieved in any amount of time, let alone in a short period of just three years. They have, however, hit each and every one of the goals that they have chosen to set for themselves and this has allowed them to have a great deal of extra capital that they are able to spend on the agents who they employ and invest back into the Town Residential real estate business model.


Town has only been in business for three years. This is a short amount of time in the business world and the company is considered to only be starting out. While, in theory, they are just starting out, they are actually more successful than some real estate agencies that have been around for many years. This success is due to the dedication that they have, the industry expertise and the relationships that they have made with clients throughout the city who are able to help them with all of the things that they want to do in the business and real estate world.


The dedication of all of the agents at Town Residential is something that is somewhat of a commodity in the real estate world. Many agents think that their clients will just come to them and that they do not have to do a lot of work to be able to get what they want. While things are somewhat like that in New York City, the Town agents know that they need to make sure that they are giving their all and that they are actively recruiting people to be their clients in the tough market that is New York City real estate.


The agents do not get lax with their practices. They want to make sure that they are the best of the best and they will do anything to get there. They are extremely talented and are professionals in what they do in the truest sense of the word. This has allowed them to be better than what they were in the past and it has given them the chance to see what they need to do to be able to keep the clients that they have and the ones that they want to get in the future. The professionalism of Town agents is incomparable.


While there are many things that are important in the real estate industry, networking is one of the most important things. An agency that has a lot of network contacts and people who they can lean on allows them to feel like they are major players in the market. This is no different for Town Residential. They have worked to partner with huge land developers and have some of the most sought-after contacts in the entire city. They are major players in the New York City real estate market and contacts actually seek them out for real estate needs.

Is Manhattan Still a Seller’s Market?

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Virtual Strategy Marketing recently highlighted a report from TOWN Residential that detailed the latest quarter of the Manhattan real estate market. The report, the Aggregate, goes to show that prices have continued to increase across the board during the last three months of 2015. The average price is up over 5% and median sales price is up an astounding 16% year-over year. Due to these increases it should come as no surprise that price per square foot in the market has risen significantly as well. Average price per square foot is now $1,365, coming up 6.2% from a year ago. Meanwhile, the median price per square foot is $1,505, which represents an 8.4% rise from the third quarter.

One of the biggest surprises in the report comes from the cooperative housing market. Three bedroom co-ops have had their median price increase 15% from the last quarter which finally brought them over the $3 million mark.

Equally as impressive as these gains are those that are being seen in condos. Year-over-year growth is a massive 20%, bringing the median price over $1.7 million. This gain is seen in all sizes with one, two, and three bedrooms now going for $1,080,000, $2,056,865, and $4,421,300.

Most reports are choosing to only focus on these increases as evidence of a still rising price of NYC Apartments for rent market. However, this may not actually be the case due to the fact that a large number of high dollar, trophy listings were closed during this quarter. This has led to some sales numbers becoming artificially high.

In reality, it seems as if the resale market it finally beginning to stabilize as prices come down slightly from their peak hit earlier this year. Buyers are also becoming more and more patient which has led Manhattan to develop a healthy inventory of over 4,000 homes and condos for sale. As median days on the market continues to rise for new listings it seems as if 2016 could turn in to the year of the buyer for those in Manhattan.