The NSDCC detached-home stats in the Jan 1st-to-March 15th period are remarkable: Year New Listings # of Sales Median List Price Median Sales Price Median DOM 2016 1,194 436 $1,146,450 $1,102,792 58 2017 1,040 459 $1,239,500 $1,200,000 53 2018 1,102 420 $1,327,000 $1,297,000 20 2019 1,056 430 $1,299,499 $1,282,500 29 2020 934 456 $1,467,500 $1,430,000 […more]
Photo by joiseyshowaa on Flickr After years of competition, New York City yellow taxis and Uber are joining forces. NYC yellow taxi platform Creative Mobile Technologies (CMT) and Uber on Thursday announced a partnership permitting city taxis to be listed on the popular rideshare app, giving them access to a larger customer base. The combined service is […more]
“Uninspired” was one of the kinder things that could be said of this 1,250-square-foot duplex when Gowanus-based architect Lynn Gaffney and her clients first laid eyes on it (for proof, see the “before” photos at the bottom of this post). The duplex, in a vintage multi-unit walkup building, had been created… Read More > The […more]
Photo by Tomas Eidsvold on Unsplash New York City’s unvaccinated athletes and performers will be able to compete and perform at local venues under a new order reversing part of the city’s private-sector vaccine mandate. Mayor Eric Adams announced on Thursday the city will expand a current exemption that has allowed unvaccinated players and entertainers who lived outside […more]
We are in the midst of the fastest increase in mortgage rates in history. It was only 6-8 months ago that home buyers were financing their purchase with a 30-year fixed rate in the twos. Now they are in the fours! We had the lowest rates ever due to the pandemic. They aren’t coming back. […more]
Mortgage rates showed no let up in their upward march this week. According to data released Thursday by Freddie Mac, the 30-year fixed-rate average jumped more than a quarter percentage point in one week, surging to 4.42 percent with an average 0.8 point. (A point is a fee paid to a lender equal to 1 […more]
The one-two punch of higher mortgage rates and escalating home prices reduced homebuyers’ ability to buy homes in February. The trend is also likely to worsen in the coming months. The national median monthly mortgage payment settled in loan applications increased 8.3%, from $1,526 in January to $1,653 in February, according to a survey published Thursday […more]
Photo by Nelson Mejia Jr. on Flickr Two years after the start of the coronavirus pandemic, Bronx neighborhoods are leading the city in mortgage delinquency rates, according to a new analysis by the Center for NYC Neighborhoods. Plus, the city’s majority Black neighborhoods were most at risk for foreclosures, with these ZIP codes having an average of […more]
Compass CEO Robert Reffkin Back in 2018, Robert Reffkin exuded that Compass agents were literally invested in the brokerage’s success. Reffkin, the CEO and co-founder of Compass, told The Real Deal then that 1,149 of the company’s about 7,000 agents, or around 16%, returned to Compass some revenue from sales commissions in exchange for company […more]
The average rate for a benchmark 30-year mortgage jumped another 26 basis points (0.26 percentage points) over the past week to 4.42 percent, which is nearly 40 percent (125 basis points) higher than at the same time last year and the highest average rate since January of 2019. At the same time, the probability of […more]