May 2019 Volume 45, Number 5 | |||||
High-Priced Condos Sell at a Loss More Often than Non-Luxury UnitsHigh prices do not guarantee profits when it comes to luxury real estate, according to a new study by StreetEasy. Researchers analyzed New York Department of Finance records from 2014 to 2018 and found that 7.7 percent of the 16,000 homes sold in New York City during this period sold at a loss.
Isolating the statistics for luxury condos in Midtown Manhattan uncovered even higher losses. Of the 66 luxury condos bought and resold in that neighborhood during that time, 39 percent sold at a loss. While the study found that luxury properties selling at a loss was common among new luxury construction units in Midtown, the outcomes were the same for luxury property sales across the rest of the city, as well. |
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Bombshell Lawsuit Alleges Top Real Estate Companies Violated Sherman Antitrust Act Breakups Force Millennials to Return Home, Says Homes.com Study High-Priced Condos Sell at a Loss More Often than Non-Luxury Units Redfin Study finds Homes with Pools Sell for More Money Home Sellers Not Comfortable with Real Estate Agents, Study Says LendingTree Study Examines How Housing Prices Have Recovered Since 2009 Rising Housing Costs Causing Some Married Couples to Take on Roommates New Study Analyzes Salary Needed to Afford Housing in Top U.S. Metros Rising Seas Eliminate $15.8 Billion in East Coast Home Values
How to Negotiate Like the Pros: 3 Expert Tips to Help You Close Real Estate Deals
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