January 2020 Upper Manhattan Residential Real Estate Market Report
January 08, 2020
What lessons did we learn from 2019 and what does that have to do with the housing market moving forward this decade? Hey, Matthew bizarro here and we're going to deep dive into what to look forward to if you're a home buyer in this January Market Report. In the last Market Report, we discussed how inventory was up, how prices were coming down, and about how almost 25% of the properties have seen price reductions and you listened. December was gangbusters. Everybody was purchasing. We had one of the hottest Decembers and purchase contracts that we've seen in 10 years. Those deals are still out there. If you are considering buying right now, listen up. I'm going to give you some tips. One, no seller lists in the middle of winter to get the highest price. If you are listing in the winter, that means you need to sell your home relocation, family situations, whatever the reason is, those that list in the winter are sellers that are looking to sell so they are motivated. Second, we've got three months till spring. This is an opportunity for you to leverage the winter, put on your gloves, put on your hat, put on your goal lashes. That's right, gold lashes, and get out and see some properties. Yes, there are more properties that come up in the springtime, but you are competing with fewer buyers, which means if the property is right for you and it's out there and it's on the market, you have an opportunity to make an offer with less other buyers interested. So let's make 2020 your best year ever. Thanks for watching. I really enjoy bringing this information to each month. If you have any questions, feel free, free to reach out. As always, please like comment, share, and subscribe and I'll see you around the neighborhood.