2016-09-12 — jewishvoiceny.com
New York City is seeing a definite decline in the sale of luxury condos in the current economic market. As of this year, the sales volume of luxury apartments and buildings, loosely defined as any real estate holdings priced over $4 Million, has declined sharply by 25% in the first five months of 2016, in comparison to the same sales period last year.
mid-range real estate units are becoming more and more popular. In June of this year, condos priced between $500,000 and $999,000 only took an average of 4.7 months to sell. This is considerably faster than the current market average of 8.6 months for real estate units to sell, which has held true for the last 10 years,
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