It’s been a fast and furious start to 2022. It’s hard to believe this first month of the year is already over. There’s a lot happening in the global markets which always has an impact on real estate, especially in New York. The US stock market had its worst January performance since the financial crisis in 2009.
Rising interest rates are in focus with inflation running rampant. However, in the midst of uncertainty there are always those who are looking for opportunity. Home values across the country continue to increase at an alarming rate pricing out many would-be first-time buyers.
The LivNY team is kicking off the year strong in what is typically is a slow season. Renters are still out in full force fighting over low inventory and, in turn, driving up prices. This has caught the attention of investor clients who see high rental prices and are ready to pounce on good deals when the numbers make sense. Sales have been very steady as properly priced homes attract a lot of interest and move quickly. It’s not uncommon to reach out on behalf of a buyer and find out the apartment is already in contract. Like I said, everything’s moving fast so far in 2022!
Last week we listed a retail condo in one of the busiest neighborhoods in the city. Whenever I go down to Canal Street, I am always shocked to see the never-ending amount of foot traffic. Right next to City Hall, 139 Centre Street is an amazing space for a variety of users. I’m really excited to have this opportunity listed on the market.
The spotlight this month is on the upcoming Super Bowl LVI! These have been some of the most exciting playoff games….who are you rooting for in this years matchup?
