The average sales price in the Hamptons soared 46% in the quarter to just over $2 million, according to a report from Douglas Elliman and Miller Samuel. The median sales price jumped 40% to $1.2 million, which is now higher than Manhattan’s median sales price of $1.1 million. This is the result of wealthy families spending more time away from their lives in Manhattan. The beach home in many cases is no longer just a secondary home for vacationing,
Robert Frank, Hamptons real estate prices b...
Tags:beach homes, beach property, Hamptons, Hamptons real estate, record real estate prices, soaring sales prices
Attracted by near-record-low mortgage rates and relatively low prices, overall sales have increased in Brooklyn and Queens. The new market emerging could benefit first-time and move-up buyers, as well as renters seeking year-long leases. Every month since May, the real estate market has seen an increase in the number of contracts signed and more people who moved away from the city are finding ways to return.
Stefanos Chen, New York Real Estate is on the Mend, The New York Times, https://www...
Tags:Brooklyn, first time buyer, low mortgage rates, move up, Queens, sales increase
Redfin CEO Glenn Kelman discusses current increase in home sales in suburban areas of major cities
November 03, 2020
Home sales have increased by 9.5% just in September, 2020, and the median purchase price nearly increased by 15%. Many professionals working remotely from home are seeking to escape from the metropolitan area and purchasing suburban “vacation homes” to live and work in. Low interest rates are also driving sales up. Redfin predicts the number of listings to increase in November continuing onto January and February, 2021.
Kevin Stankiewicz, Redfin CEO expects ‘absolutely insane’ demand in...
