Robb Report’s Post

The Manhattan real estate market is witnessing a significant transformation as inventory levels rise and sellers reduce prices, creating an advantageous landscape for buyers. According to recent reports from Douglas Elliman and Miller Samuel, the average residential real estate sales price in New York City has decreased to just over $2 million in Q2, marking a 3% decline. Despite this drop, prices remain substantially higher than the national average, which the CEO of Brown Harris Stevens, Bess Freedman, notes distinguishes Manhattan from other U.S. markets where home sales are slowing primarily due to a lack of inventory and rising prices. The market's momentum is further supported by Corcoran's findings, showing a 34% quarterly increase in the number of sales and a 13% rise in signed contracts. This trend signifies the first improvement in closings and contracts on a quarterly and annual basis since mid-2022. Corcoran's president and CEO, Pamela Liebman, highlights that the combination of increased supply and demand, along with attractive pricing, is drawing in buyers who are seizing these opportunities as savvy sellers adjust their expectations. Manhattan now faces a 9.8-month surplus of apartments for sale, indicating a buyer's market where inventory exceeds demand. This is particularly notable in the luxury sector, where there has been a notable increase in signed contracts for homes priced at $10 million and above. Compass's Q2 report emphasizes that while high-end contracts have surged, there are fewer ultra-luxury homes on the market compared to last year. The approaching election may cause some hesitation among buyers, yet New York City continues to attract interest, maintaining its status as a coveted destination. This shift in the market dynamics is part of a broader trend where buyers are gaining leverage in Manhattan's real estate market. The combination of increased inventory, price reductions, and strategic adjustments by sellers is creating a conducive environment for buyers, particularly in the luxury segment. The changes reflect broader economic conditions and specific local factors, making Manhattan an intriguing case study in real estate market fluctuations. #NYCRealEstate #ManhattanMarket #BuyerAdvantage #LuxuryRealEstate #RealEstateTrends #HousingMarket #NYCHomes #PropertyInvestment #RealEstateNews https://lnkd.in/ee-Yez5c

As we move into the second half of 2024, the Mid-Peninsula real estate market continues to demonstrate remarkable dynamics, reflecting resilience and opportunity across our various cities. Here's a snapshot of the key trends and insights: 📈 Atherton's luxury market remains robust, with a median sales price of $10M, an +84% increase from last year. Closed sales have increased by +67%, despite a -48% decrease in the average price per square foot ($2,010). This indicates a strong preference for high-end properties, a significant inventory increase, and reduced time on the market. 📈 Los Altos saw a +10% rise in the median sales price, reaching $4.406M. The number of new listings surged by +31%, and closed sales increased by +19%, indicating a balanced market. The average price per square foot rose by +5%, reflecting sustained demand. 📈 Menlo Park's market remained steady, with no significant change in the median sales price ($3.362M). The area saw a +43% increase in closed sales and a -53% reduction in the time to sell, emphasizing a brisk market pace. The price per square foot edged up by +2%. 📈 Palo Alto experienced a slight decline in the median sales price by -2%, settling at $3.6M. However, the market activity remained strong with a +14% increase in new listings and a +33% rise in closed sales. The price per square foot saw a +6% increase, indicating steady demand. 📈 San Carlos experienced a +13% rise in the median sales price, reaching $2.612M. The number of closed sales increased slightly, while the price per square foot grew by +13%, indicating strong buyer interest. What does mean for buyers and sellers? ⚪️ For buyers, the increasing inventory in many areas, especially in high-end markets, means more options and potentially better negotiation opportunities. However, the prevalence of cash offers in competitive areas means it’s crucial to be prepared to act quickly. ⚪️ For sellers, the strong demand and rising prices in key areas like Atherton and Los Altos suggest it’s a favorable time to list your home, but being strategic about pricing and presentation remains essential to maximize returns.

Kaylee Messina, REALTOR® Messina Luxury Group Iron Valley Real Estate Central Florida October 2023    Good news for buyers and sellers in Orlando! Currently, there are 2.89 Months Supply of Inventory, indicating a healthy real estate market. This means there is a balance between supply and demand, providing opportunities for both buyers and sellers.     Over the last 12 months, the Months Supply of Inventory has increased by +75.15%. This indicates a slight increase in available properties, giving buyers more options to choose from. Sellers, it's essential to price competitively and showcase your home's unique features to stand out in the market.     The List to Sold Price percentage stands at an impressive 97%. This means that homes in Orlando are selling close to their list price, highlighting the strong demand and value in the market.    Looking for a quick transaction? The median days on market is only 11 days! This demonstrates the high demand for homes in Orlando, and buyers should act swiftly when they find a property that meets their needs. Sellers, this is an excellent opportunity to sell your home efficiently.     Lastly, the median sold price in Orlando is $482,500. This provides a benchmark for buyers and sellers to understand the current market value of homes in the area. Sellers, it's important to consider this when determining your listing price, and buyers, this can guide your budget planning.    For expert guidance and personalized assistance navigating Orlando's real estate market, contact me, Kaylee Messina, your trusted REALTOR® at Iron Valley Real Estate Central Florida.  #OrlandoRealEstate #MarketTrends #BuyersAndSellers #YourTrustedRealtor #IronValleyRealEstate #MessinaLuxuryGroup

The real estate market in the greater Fort Lauderdale area (Broward County, Florida) is seeing significant growth, particularly in the luxury segment. Recent data from the Miami Association of Realtors reveals that home prices in Fort Lauderdale rose by 10% annually in April 2024. Sales of homes worth more than $1 million also surged 32%, underscoring the area's appeal as a prime destination for real estate investment and high-end properties. https://lnkd.in/eFZtmmUd

🏡 Lloydminster Real Estate Market Update - October 23 to October 29, 2023 📈 Here's your weekly snapshot of the Lloydminster real estate market: 🔵 Active Listings (208): Lowest Price: 1 bed, 1 bath, 1,000 sqft, listed at $59,900. Highest Price: 11 beds, 6 baths, 3,774 sqft, listed at $1,800,000. Average Price: 4 beds, 2 baths, 1,256 sqft, listed at $351,921. Median Price: 4 beds, 3 baths, 1,147 sqft, listed at $304,950. 🟡 Pending Listings (4): Lowest Price: 2 beds, 1 bath, 916 sqft, listed at $149,000. Highest Price: 5 beds, 3 baths, 1,416 sqft, listed at $347,900. Average Price: 3 beds, 2 baths, 1,121 sqft, listed at $252,925. Median Price: 3 beds, 2 baths, 1,075 sqft, listed at $257,400. 🟢 Sold Listings (10): Lowest Price: 2 beds, 1 bath, 864 sqft, sold for $112,000 (SP/LP: 89.31%). Highest Price: 6 beds, 4 baths, 2,537 sqft, sold for $680,000 (SP/LP: 98.79%). Average Price: 4 beds, 3 baths, 1,574 sqft, sold for $328,700 (SP/LP: 94.85%). Median Price: 4 beds, 3 baths, 1,324 sqft, sold for $307,000 (SP/LP: 94.73%). 📈 The Lloydminster real estate market continues to show a variety of options for buyers, with a range of property sizes and prices available. If you're looking to buy or sell, now is a great time to explore your options. Remember, these statistics provide a general overview of the market, and individual property values may vary. Feel free to reach out to me for a more personalized analysis or if you have any questions about specific listings. Harpreet Christie RE/MAX of Lloydminster 780-205-7653 BorderCityRealEstate.com #LloydminsterRealEstate #MarketUpdate #HomeBuying #HomeSelling #marketreport #realestateupdate #remax #bordercityrealestate

The New York City housing market is dynamic and neighborhood-specific, requiring both buyers and sellers to stay informed. 1️⃣ Luxury Sellers Thrive Despite Summer Slowdown ↗ Despite seasonal trends, the luxury real estate market is thriving. Luxury listings started at $4.5M in July, up 12.5% from the previous year. ↗ Contracts for luxury homes increased by nearly 30% in Q2 2023. ↕ Rare discounts (only 5.2% of listings) indicate strong buyer interest. 🔛 Sellers hold the upper hand with a 94.8% sale-to-list price ratio. 2️⃣ Manhattan: The Luxury Hotspot 🥇 Manhattan dominates the luxury market, with 81 out of 89 luxury contracts signed in July. ⬆ Median asking price for Manhattan luxury homes rose 11.5% YoY to $7.75M. Condos in new construction buildings in Midtown are in high demand, driving up prices. ⬆ Overall Manhattan listings saw an 11.9% YoY increase to $1.595M in July. 3️⃣ Brooklyn Breaks Records ⬆ Brooklyn's median asking price hit a record high of $1M in July. 🔛 Limited inventory fuels competition, with a high sale-to-list ratio. 🔝 The borough remains popular across various price ranges. 4️⃣ Queens: Affordable Yet Competitive ↙ Queens offers affordability with a median asking price of $648,000 in July. ⤴ Low inventory gives sellers the upper hand, especially with well-priced homes. 5️⃣ Seller's Market Persists 🏹 NYC's asking prices are expected to rise throughout the year. 🔛 Low new listings maintain the seller's market, driven by homeowners holding onto low mortgage rates. 🗽 If you're seeking information on New York real estate forecasts and trends, don't hesitate to get in touch. 🤝 I'd be delighted to become your trusted real estate partner, helping you realize the transformative impact on your investments. #strategy #business #inspiration

🏡 Elevating Luxury Living in Chicagoland: A Resilient Real Estate Market in 2023 📈 In the dynamic realm of Chicago's ultra-high-end real estate, 2023 stood as a testament to resilience. Despite challenges like depleted inventory, economic uncertainties, and the Fed's vigorous stance against inflation, the market not only held its ground but flourished. 📉 Facing a surge in mortgage rates reaching nearly 8%, the real estate landscape navigated uncharted waters. Ironically, the same conditions that posed challenges to the broader market became a catalyst for a remarkable shift. High-quality, tangible assets, particularly luxury homes, emerged as sought-after safe havens for discerning buyers with liquid assets. 💰 Amid economic turbulence, affluent buyers found solace in the stability and enduring value offered by luxury properties. As a real estate agent in this thriving market, I'm excited to navigate these trends, helping clients secure not just a home but an investment in enduring luxury. #ChicagolandRealEstate #LuxuryLiving #RealEstateMarket2023 #ChicagoHomes #ResilientMarket

Manhattan's 2nd Qrt 2024 Market Report is in... -Apartment prices averaged $2,052,460 in the second quarter, up sharply from the first quarter but 3% lower than a year ago.  -Several high-end closings—including one for $117 million—helped push the average condo price slightly above last year’s level. -The number of sales ticked up 3% from 2023’s second quarter to 3,157. -Resale apartment prices averaged just over $1.8 million in the second quarter, up slightly from a year ago. -Demand was strong for luxury condo resale apartments in the second quarter, helping fuel a 10% increase in three-bedroom and larger units compared to a year ago. You can view the full report here... https://lnkd.in/eNXYTi74

🏡 Exclusive Real Estate Insights: Collin, Denton, and Rockwall - $1 Million+ Single-family Homes between 2022 and 2023🏡 Are you curious about the #luxury real estate market in Collin, Denton, and Rockwall? 🌟 Here are some key statistics that provide valuable insights into this upscale market segment: 📊 Months of Supply: The months of supply is a crucial metric indicating the balance between supply and demand. For high-end homes in these areas, the months of supply may reveal trends in buyer interest and seller activity. For example - Rockwall county currently has 9.7 months of supply reflecting a buyers' market, unlike Collin County which has only 3.4 months of supply reflecting it's still a seller's market for $ 1 million + properties in this area. 🏠 Homes for Sale: Discover the number of luxurious properties currently on the market. Knowing the inventory available can help you gauge the level of competition and variety of choices for buyers in this price range. Collin County - 73 Denton County - 81 Rockwall County - 21 🔍 Showings Per Listing: Showings per listing can give you an idea of the demand for million-dollar-plus homes in Collin, Denton, and Rockwall. A high number of showings per listing might suggest a strong interest in these upscale properties. That is where the Showings for Rockwall County of 6.3, a 43.2% increase from the previous year of 4.4 shows a strong buyer interest in the area. Whether you're a potential buyer or seller, understanding these market indicators can be invaluable in making informed decisions. If you're interested in more detailed information or have any questions about the luxury real estate market in these areas, feel free to reach out to me. I'm here to provide you with expert guidance and personalized service, whether you're looking to buy or sell your dream home. Let's explore the world of luxury real estate together! 🌆🏡💎 #RealEstateInsights #LuxuryHomes #CollinCounty #DentonCounty #RockwallCounty #RealEstateMarket source - Ntreis Please feel free to Call/Text or Email me for #HOMES in your area of interest. Rima Khosla (NHSAC-New homes sales certified agent) REALTOR® 954-993-3654 rimakrealtor@gmail.com Keller Williams Frisco Stars #rimakrealtor

In the ever-evolving landscape of Manhattan's real estate market, a recent report unveils intriguing trends. While closed sales dipped by 5.2 percent year-over-year in the first quarter, pending sales surged by 9.3 percent compared to the previous quarter, signifying a notable uptick. Particularly striking is the surge in contracts signed for Manhattan properties priced above $20 million, soaring by 140 percent from the previous year. Despite this, the average sales price in Manhattan dipped to $1.88 million, attributed to a spike in co-op sales, which are substantially less expensive than condos. Notably, inventory has rebounded to pre-pandemic levels, with the Upper East Side emerging as a focal point for property enthusiasts, experiencing a 15.5 percent increase in contracts signed and a 16.3 percent surge in median home prices. These dynamics underscore a nuanced blend of resilience and adaptation within Manhattan's high-end real estate sector as buyers navigate evolving preferences and market conditions. #robbreport #luxury #realestate #manhattan #newyork