Saturday, March 11, 2017

Great Read from Urbandigs:2017 off to a Great Start!

This certainly mirrors what we are currently experiencing. The market is very active, buyers will bid aggressively for quality homes that are priced correctly. The cream is rising to the top however not everyone is coming along for the ride.
New condo inventory is not moving as quickly as similar resales, however pricing remains firm and developers are excercising patience. There is some room to negotiate, however surprisingly limited to a few buildings. Some new developments have begun raising prices (50 Greenpoint Ave). We are seeing some wiggle room on buildings that have been on the market for 6 to 12 months and are struggling to move that last bit of inventory. However you are getting the scraps and they're not cheap. If one of these unsold units works for you, you're in luck.

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