As I write this, the latest market numbers have just come out. Not great! But New York City has been hit before and it always comes back. In fact, now would be a great time to grab a couple good deals if you know where to look. Recently some condos have even been offering discounts on their properties, and even block sales of multiple apartments at one time.
The April Median sale price was $1,172,500, which is down 4.5% from last year. The Monthly New Supply of units is up 16.6% from last year at the same time, and 168.1 % from the prior month.
Monthly Contract Activity is down 70.7 % from the prior year., and Sales Over the Asking price is down 7.7% from the prior year.
Current Supply is up 23.3% from the prior month, but down 9.7% from the prior year. Pending sales are down 48.9% from the prior year it the same time.
And Days on Market (116) is up 36.5% from the prior year at the same time.
Hang in there...it will get better!