Town Residential is a known big wig in the NYC real estate on townrealestate market. It is one of the most successful companies in the real estate market of New York City. Town Residential is highly knowledgeable of the United States real estate market especially New York City. It has a team of highly professional staff with vast experience in real estate market. This is the main reason why Town Residential has managed to rise so fast on the top of New York real estate market.
Town Residential has recently released a real estate market analysis for the fourth quarter of 2015. One thing about the American real estate market is that the prices have been rising over the years, and that does no seem to be changing anytime soon. This increase in real estate market prices is also seen in the fourth quarter of 2015. The rise is spread in all parameters of the real estate market. From the prices of land, land rates, the cost of building and building materials, the cost of interior finishing and the overall cost of renting or buying a real estate product. This rise has lead to fall of some real estate firms and stagnation of some real estate developments.
But this rise has not prevented people from accruing some really expensive pieces of real estate. New York city in itself has witnessed some of the biggest sales in real estates in the fourth quarter of 2015. Perhaps it is due to most of the clients rush to try and start a new year in a new house or maybe to meet their 2015 resolution which was to own a piece of real estates. Billionaires have not been left behind this fourth quarter. Economy swinging purchases of the real estate establishment have also been seen forward by billionaires in New York. From penthouses to city houses billionaires have left their mark.
An average of estimated 5.5% rise in real estate prices has been witnessed in the fourth quarter of 2015 in comparison to the same period in 2014. Manhattan is the worst hit by this rise in real estate prices. Condos in Manhattan have had media sales price increase of nearly 20% in the fourth quarter of 2015 compared to the previous years. The price per square foot of space rose from 7.6% in the 3rd quarter of 2015 to 11% in the fourth quarter. Co-ops in Manhattan had a 4.6% increase in price from the 3rd quarter and 6.4% from the previous years.
From this analysis, you can see that each year real estate prices keep rising. So the faster you get yours the better.