The good economy kept up the fight with the evil army of rising rates + tax laws, with no clear sign of a winner.
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With the Hudson Yards development being the
largest planned development in the US in recent times, the project enjoys a warm reception
amongst buyers, especially international investors.
How should I buy or sell in this soft Market?
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After the market finally awoke from the long summer lull, prices for listings that went into contract and closed in September snapped back. Median Sales Price (MSP) for both in contract and closed listings clocked in at 1.2mm, about the same as before summer, but lower than the average MSP of 2016.
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Staying true to the seasonality of the month, the NYC real estate market experienced a downshift in both prices and level of activities.
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This month we see a typical summer market, where there are less activities but buyers and sellers who do choose to transact in the summer tend to be more focused.
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The Manhattan real estate market bucked the trend of declining market activities and registered a very strong showing in first quarter 2017, which set an optimistic tone for the rest of the year.
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