It’s the exact opposite in NYC OP. All the folks that are buying up places in the suburbs are the same ones that left the city. So if they were owners, they are trying to sell and prices have dropped dramatically
Yup. I moved away and sold but considering getting a studio or something in the city bc prices are so low - my wife will need to come back to the city for work semi-regularly post-covid
Prices for a 2-bed over 1500 sqft (I was looking right before COVID) in Manhattan are way down vs pre-COVID. Definitely not a seller’s market right now
I haven’t been monitoring super closely, but brownstone parts of Brooklyn seem to be holding up well. Not booming but holding steady. Hi rises may be a bit weaker, and Manhattan especially so.
Prices will remain steady for nyc single and multi family homes in the outer boroughs. Not sure about how the condos are doing in the city since most white collars are wfh/moving away.
Formerly safe neighbors are seeing the steepest discounts. The ideal thing would be to buy now but continue living elsewhere until some sanity is restored here
Chief
It’s the exact opposite in NYC OP. All the folks that are buying up places in the suburbs are the same ones that left the city. So if they were owners, they are trying to sell and prices have dropped dramatically
Yup. I moved away and sold but considering getting a studio or something in the city bc prices are so low - my wife will need to come back to the city for work semi-regularly post-covid
Prices alone will tell you the story in NYC.
Prices for a 2-bed over 1500 sqft (I was looking right before COVID) in Manhattan are way down vs pre-COVID. Definitely not a seller’s market right now
Pro
I haven’t been monitoring super closely, but brownstone parts of Brooklyn seem to be holding up well. Not booming but holding steady. Hi rises may be a bit weaker, and Manhattan especially so.
Staten Island is the one borough where prices have gone up . I guess it can be consider a pseudo suburb
Prices will remain steady for nyc single and multi family homes in the outer boroughs. Not sure about how the condos are doing in the city since most white collars are wfh/moving away.
Pro
Condos are deeply discounted especially in areas that used to be safe and clean
Pro
No, everyone here is looking to sell and prices are at ROCK BOTTOM
Pro
That’s why I’m trying :)
Total buyers market in the city. Prices are super low and offers are being entertained even 20% below asking prices.
Pro
Formerly safe neighbors are seeing the steepest discounts. The ideal thing would be to buy now but continue living elsewhere until some sanity is restored here
Pro
Or buy downtown where it is still safe even though prices there have not dropped as much