Viewing entries tagged
covid and real estate
Stats from the second quarter reaffirm Manhattan real estate’s amazing rebound. Following on the heels of a stellar Q1, surging pent-up demand and low interest rates continued to work in tandem to drive up the number of contracts signed. At this point, we have regained values that were lost to Covid discounts and, by and large, we are back to pre-pandemic pricing. It’s activity however, not pricing, that’s way up.
New York is alive and getting better. The change is palpable. Establishments have been reopening for business gradually. Restaurants, gyms, museums and movie theaters along with pedestrian and car traffic have returned. Hotel and airline bookings are up. In-person classes at public high schools are resuming this week. Vaccines are more readily available. Those who have been immunized are expanding their social circles, albeit tentatively. Yankee Stadium and Citifield will host the start of the baseball season with 20% fan capacity. Tourists are trickling back. Federal stimulus coins are jingling. Days are getting longer and warmer. And the spring selling season is well underway for New York City’s residential real estate market.
We’re two weeks away from the start of a new year, and despite an accelerating pandemic and the closing of indoor restaurant dining, here are ten reasons to be optimistic about the New York real estate market of 2021.
