Real Estate Expert Offers Insight Into 2016 Real Estate Market In NYC
The 2016 real estate market in New York City is expected to have some major differences that will set it apart from the 2015 market. Real estate expert Ari Hawkov who works for Halstead Property offers the following insights for the NYC market in 2016.
One of the biggest impacts on the real estate market in New York City apartments for sale in 2016 will be the rising interest rates. This should have the effect on lowering prices for sellers, while giving buyers an opportunity to snatch up a home for a lower price. Another major development in the real estate market that should occur in 2016 is the focusing of buyers on prime neighborhoods. This is due to the fact that when the market surges and is doing well it tends to bring second choice neighborhoods into the boom as well. A declining market will have buyers focused solely on prime locations, where the dropping prices will make primary neighborhoods more appealing to buyers. The luxury condo market will probably be unaffected. This is because an influx of new developments and lots of new listings combined with a strong demand will continue to make the luxury condo market strong.
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Town Residential is one of the few real estate firms in New York City that focuses on the luxury real estate niche in New York City. You will be given attention and informed on all developments regarding your deal/offers. Town Residential treats every client with the utmost respect and dignity while helping them achieve their goals. For a complete rundown of the projections for the New York City real estate market in 2016, check out this article on the NY Daily News.