NYC Residential Market Booming

Hal Shapiro, Scarsdale, NY pic
Hal Shapiro, Scarsdale, NY pic
Hal Shapiro, Scarsdale, NY

For more than 15 years, Scarsdale, NY, native Hal Shapiro has served as a senior director of Winick Realty Group LLC in New York City, where he offers a range of services to property owners and retail tenants. Additionally, Hal Shapiro is a member of the Real Estate Board of New York (REBNY).

REBNY recently posted third quarter 2016 figures showing that the residential market in New York City has reached all-time highs. Valued at $13.6 billion total for the quarter, residential transactions jumped 15 percent from the prior year and have reached the highest total dollar amount for sales since REBNY began compiling data 10 years ago.

In the Bronx, Queens, and Brooklyn, average home prices increased 3 percent to $400,000, 6 percent to $523,000, and 8 percent to $891,000, respectively.

Manhattan also saw record condo prices, with the average reaching an all-time high of $2,952,000 on the back of newer, posh developments in the area.

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