New York Sees Changes in Luxury Condo Market

There’s never been another city like New York, “The Big Apple.” This is the city everyone wants to take a big bite out of, because it’s so exciting and so dynamic. It’s not wonder that the real estate market here has defied the odds for years, booming in a major comeback after the national economy crashed in 2008. Can this boom continue, however? The signs are that things in at least some aspects of the luxury condo market here are slowing.

Those deals were signed over a year ago, when the market was hotter, but the big numbers involved make it look as though business is still booming in a big way overall. The fact is that the market is slowing, especially in sales of condos in newly constructed buildings. That’s not the whole story, however.

Another facet of New York real estate is the resale market, which is still going very well, especially in sales in the $500,000 to $1 million range. This actually accounts for 3/4 of the marketplace in New York, so it’s a sign of stability and good news for those involved in real estate sales.

One of the companies that has made a name for itself here is TOWN Residential. Since its launch in 2010, the real estate experts at TOWN have used a combination of client service and real knowledge of the complex New York market to deliver big sales for top clients.

When its time to get involved in the New York luxury real estate market, it’s time to call TOWN Residential.

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