With years spent living and working in Sunset Park, we are intimately familiar with what makes our coastal community so special. Additionally, we track Sunset Park statistics carefully, so our clients know the best time to sell, lease or hold. With 2017 behind us, these trends stand out:
• Prices: Both sold price and price per sq. ft. reached all-time highs in 2017!
• Days on Market: During 2017, condos sold at their fastest pace in 12 years!
• Number Sold: A shortage of listings resulted in fewer condos sold in 2017, when compared to 2016.
These positive trends are due in large part to good economic news, low interest rates and a shortage of inventory. As our city matures and traffic conditions continue to worsen, the pressure among residents who want to live in the best, most central neighborhoods create ongoing demand for conveniently located condominiums, making Sunset Park an extremely attractive place to live. We expect more of the same in 2018.
We have a variety of additional statistics and data if you would like to learn about specific factors at play, and would be pleased to meet with you to discuss current values or trends. If selling is something you have considered, it has truly never been a better time to capture these historic market values.
–Tregg Rustad & Peter Maurice