Home Highlight StreetEasy report: Manhattan, Brooklyn real estate sales prices increase the least in 4 years

StreetEasy report: Manhattan, Brooklyn real estate sales prices increase the least in 4 years

by Paul

A decline in sales price growth and an increase in time that homes spend on the open market has created an advantage for buyers, according to a report released Monday.

StreetEasy said Manhattan and Brooklyn sales prices saw the smallest annual increase in four years last month. Manhattan’s median resale price in July was $994,458 (£758,997), but represented a 2% rise from July 2015. Brooklyn’s median resale price was $563,416 (£430,032) last month, a 4.7% jump over the same period last year.

StreetEasy economist Krishna Rao said this change in the market wasn’t an anomaly as buyers are waiting longer to find a deal among the high-priced options.

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This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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