New York City is seeing a massive surge of money spent in its real estate market through the year 2017. And although this is a pleasant surprise, it is not altogether unforeseen or unexplainable. Perhaps, the best part about the recently noticed and classic popularity of the New York real estate market are the details in rises of home sales and value seen across the board in five different boroughs.
In Manhattan, Staten Island, Brooklyn, the Bronx and Queens home buyers and renters are enjoying a quality of life and bubbling economy that compliment and support each other in a productive cycle. This cycle yields profit one way or another for everyone involved. Whether it is the business that home affordability and stability provide in this year or the opportunities that arise with every new generation finding housing, New York right now is super hot.
Putting aside the issue of money in dollars and cents, it is the core values of communities and institutions working together to build a city that wields a lot of power that makes this market uprise a reality. Besides having the leverage of the stock exchange and affluence over the DC scene, New York has a lot to offer by way of aesthetic charm, expensive landscape and a demographic of people with a rich history and culture. Because New York City is so big, to really understand what’s going on in its real estate market the best way to understand the situation comes from looking at each borough individually.
Brooklyn is a borough that shows a marked improvement when it comes to the amount of days homes spend on the market. This is the say that in the year 2017 the average number of days day turns out to be somewhere just under one hundred while earlier in the same year the number looked more like 120. When it comes to availability and formidable affordability, Queens is the borough to look for in New York City. With a good number of houses available on the market this area is very much a hotspot for first-time home buyers or those looking to branch into a second home to learn about the minutiae of protocol involved in renting or flipping a property in New York City real estate. As a matter of fact, home buyers might have a hard time deciding when it is a good time to make a move with prices that remain low and even take a dip in the asking price every now and then.
Once upon a time, the accepted truth in old adage regarding the borough of Staten Island is that it ain’t cheap. However, with housing projects and and expert planning by developers, the real estate and renting scene in Staten Island is now surprisingly easy on the pocket. This in turn is creating a hip vibe to the island, which is adjacent to Manhattan, that gives it a bohemian type of feel to it.
The Manhattan real estate seen itself is seeing a bevy of businesses take up a form of residence in the area and in turn this adds a real sense of class to the real estate scene there. Because of its adjacent location to Staten Island commuting from one up-and-coming neighborhood to this gainful area is now the new thing to do in New York City. The Bronx Borough is enjoying a boost in home sales throughout 2017, as Bayrock‘s founder, Tevfik Arif Doyen, as making most people pay attention to this colorful and competitive area and New York real estate. All together at these five boroughs are mines of wealth just waiting to be discovered.