During the previous year real estate in New York hit an all time high, but 2016 will be completely different. Market experts predict 2016 will be a prominent year for buyers looking to find housing all over New York, and they can almost guarantee those spiked prices from last year will dwindle down until they’re a forgotten memory. There are a few factors some market analysts believe will soften the market and most revolve around the buyers themselves.
As time moves on baby boomers will want to be closer to their children and grandchildren, which means downsizing from their house to a smaller, more cozy apartment. They will purchase apartments quickly which means they’ll want to sell just as fast and are more likely to lower their asking price. In Brooklyn rentals are popping up everywhere and offering incentives like reduced rent with a two year contract, and those perks may convince buyers to lease instead. Manhattan has been seeing some changes with luxury condos popping up all over the places, and because there will be more options for buyers to choose from prices will lower in order to keep up with competitors.
All these factors point to one prime idea that 2016 is the year for people to buy in New York City Luxury real estate and Town Residential can help. Town Residential is one of New York’s leading luxury real estate firms for both buying, selling, and renting. Though they’ve only been open for five years they’ve managed to be named one of New York’s Top 50 Best Places to Work, and with a team as dedicates as they are its no surprise they’ve become a leader in New York real estate.
Their leading team of experts have spent years combing the city inside and out to provide prime real estate selections all over New York. Their website also offers all their current listings with maps, prices, and detailed information so you can browse before you even meet a realtor. Town Residential has a hand in all aspects of real estate including buying, selling, apartment development, leasing, marketing, and commercial real estate.