It’s no secret that searching for the perfect property in NYC apartments for sale can be challenging. Getting enough space for an affordable price is an issue that many potential home (or condo) owners face. This is particularly true for those who want to move into one of the city’s main boroughs, including Queens and Manhattan.
As opposed to Manhattan, where more spacious apartments are slightly lower in price, condos and co-ops in Brooklyn that have three or more bedrooms increased in price by 25 percent from last year. One-to-four family townhomes, which are popular in the Brooklyn area, saw average prices increase from $675,000 to $760,000, according to Halstead Property.
High demand, as well as low inventory, continue to be the driving factors behind the real estate changes in NYC. Professionals recommend that buyers look for properties that have the potential to appreciate over time in order to get the most for their money.
In Queens, the prices in all neighborhoods increased. Many people who couldn’t find affordable properties in Brooklyn moved to Queens neighborhoods like Astoria, Woodside and Sunnyside. These neighborhoods are developing, and residents are excited to be a part of the change.
If you’re searching for a home in NYC or are considering moving there soon, TOWN Residential can help you navigate through the complications of New York real estate. TOWN Residential is a luxury real estate firm that was established in 2010, and you’ll find that the agents are particularly skilled in finding a luxury property for you and your family, in a number of different price points. TOWN Residential has been voted one of the Top 50 Best Places to Work in NYC, so you’re sure to be satisfied with the professional expertise and top-notch services the firm provides when you’re ready to make your move in New York City.