A FIELD GUIDE TO SELLING THE WORLD · ˆ.˝% to ˇ˛,˛˚˘,˙˚˚, attributed mainly to rocketing...
1
Manhattan’s Real Estate Market exhaled in the Third Quarter 2016. However, true to this city’s reputation, certain segments still achieved new records. Year over year, closed sales fell 15%, inventory increased 10%, and the median sales price rose 7.6% to $1,108,500, attributed mainly to rocketing new development closings. New York Normal • Resale Properties reported 87% of the overall market share and more accurately describe the true current conditions. Year over year the resale median sales price rose 2.5% to $950k, but the number of closed sales plunged 20%. • Cooperative inventory increased 5% and closed sales fell 17% compared to Q3 2015, however, the median sales price remained resilient with a 1.4% rise to $767k. • The record setting Luxury Market, with New Development holding over half of the market share, broke the $3,000 price per square foot ceiling for the first time ever due to recent closings of older contracts. On the downside, compared to Q3 2015, the number of closed sales fell over 18% and inventory dropped 9% as over-priced listings with unrealistic asking prices were taken off the market. • Chinese Buyers are still a staple of the market with year-to-date net capital outflows from China totaling more than $400mm according to The Real Deal. This Great Wall of Cash has an unquenchable thirst for well-priced properties in amenities-laden new buildings – always with the continuing belief that New York City is the first choice for premier lifestyle and secure investments. The Billionaire Report Forbes reports that of the more than 1,800 billionaires across the globe, one third call the U.S. home, with NYC their most preferred address. New York also ranks as home to the richest of the rich… with $537 billion, or 7.6% of all global billionaire wealth. Market Forward Announcing a Buyer’s Market for a New York minute! Great opportunity awaits those who buy now and accurately priced properties continue to move fast for sellers. The remainder of the market players appear to have hit pause until after the November Presidential Election when results driven New Yorkers will once again be back in action! A FIELD GUIDE TO SELLING THE WORLD Market Report | 3rd Quarter 2016 | nikkifield.com If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. This offering is subject to errors, omissions, changes including price or withdrawal without notice. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. © MMXVI Sotheby’s International Realty, Inc. All Rights Reserved. An Equal Opportunity Company. Equal Housing Company. The Field Team’s Collection 870 United Nations Plaza $6,500,000 33 West 56th Street $3,000,000 400 East 72nd Street $4,595,000 120 East End Avenue $6,500,000 FEATURED NEW LISTINGS REPRESENTING PREMIER MANHATTAN RESIDENCES 連接全球資深買家與曼哈頓豪華地產的橋 Nikki Field | Senior Global Real Estate Advisor, Associate Broker | 212.606.7669 | nikki.fi[email protected] Unveiling our New Website nikkifield.com The Field Team Selling The World 14 East 68th Street $2,850,000
Transcript of A FIELD GUIDE TO SELLING THE WORLD · ˆ.˝% to ˇ˛,˛˚˘,˙˚˚, attributed mainly to rocketing...
Manhattan’s Real Estate Market exhaled in the Third Quarter 2016. However, true to this city’s reputation, certain segments still achieved new records. Year over year, closed sales fell 15%, inventory increased 10%, and the median sales price rose 7.6% to $1,108,500, attributed mainly to rocketing new development closings.
New York Normal• Resale Properties reported 87% of the overall market share and more accurately
describe the true current conditions. Year over year the resale median sales price rose 2.5% to $950k, but the number of closed sales plunged 20%.
• Cooperative inventory increased 5% and closed sales fell 17% compared to Q3 2015, however, the median sales price remained resilient with a 1.4% rise to $767k.
• The record setting Luxury Market, with New Development holding over half of the market share, broke the $3,000 price per square foot ceiling for the � rst time ever due to recent closings of older contracts. On the downside, compared to Q3 2015, the number of closed sales fell over 18% and inventory dropped 9% as over-priced listings with unrealistic asking prices were taken o� the market.
• Chinese Buyers are still a staple of the market with year-to-date net capital out� ows from China totaling more than $400mm according to The Real Deal. This Great Wall of Cash has an unquenchable thirst for well-priced properties in amenities-laden new buildings – always with the continuing belief that New York City is the � rst choice for premier lifestyle and secure investments.
The Billionaire ReportForbes reports that of the more than 1,800 billionaires across the globe, one third call the U.S. home, with NYC their most preferred address. New York also ranks as home to the richest of the rich… with $537 billion, or 7.6% of all global billionaire wealth.
Market ForwardAnnouncing a Buyer’s Market for a New York minute! Great opportunity awaits those who buy now and accurately priced properties continue to move fast for sellers. The remainder of the market players appear to have hit pause until after the November Presidential Election when results driven New Yorkers will once again be back in action!
A FIELD GUIDE TO SELLING THE WORLDMarket Report | 3rd Quarter 2016 | nikki� eld.com
If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the o� erings of other real estate brokers. We are happy to work with them and cooperate fully. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. This o� ering is subject to errors, omissions, changes including price or withdrawal without notice. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with
permission. Operated by Sotheby’s International Realty, Inc. © MMXVI Sotheby’s International Realty, Inc. All Rights Reserved. An Equal Opportunity Company. Equal Housing Company.
The Field Team’s Collection
870 United Nations Plaza $6,500,000
33 West 56th Street $3,000,000
400 East 72nd Street $4,595,000
120 East End Avenue $6,500,000
FEATURED NEW LISTINGS
REPRESENTING PREMIER MANHATTAN RESIDENCES 連接全球資深買家與曼哈頓豪華地產的橋Nikki Field | Senior Global Real Estate Advisor, Associate Broker | 212.606.7669 | nikki.� [email protected]
Unveiling our New Websitenikki� eld.com
The Field Team Selling The World
14 East 68th Street $2,850,000
