Saturday, April 5, 2014

Q1 Manhattan Sales Report: Low Inventory, Higher Prices and Higher Absorption Rates

A Quick Look at Manhattan Market 
Q1 Report:

The sales inventory in Manhattan dropped to a 6 year low in the first quarter of 2014 leading to price surges with higher absorption rates*. Some quick facts courtesy of Streeteasy:

Median Recorded Sale Price increased to $900,000 in Q1 2014, up 6.5% since last quarter and 16.9% year-over-year.

Total Inventory fell 13.0% since Q1 2013 and by 1.0% compared to the previous quarter. This is the lowest inventory level since Q4 2007.

Contract Activity decreased by 9.3 percent since Q4 2013, and 15.2 percent year-over-year.

Time on Market was 89 days on average in Q1 2014, a 35.2% decrease compared to 137 days last year and the lowest average since StreetEasy began tracking this data in 1995.

StreetEasy Condo Market Index for February 2014 increased by 2.6% since January and by 16.3% since February 2013. The index is currently at its all-time high.

For a detailed report, please visit: Q1 Streeteasy Manhattan Market Report

*The rate at which homes sell in an area; the higher the absorption rate, the faster homes are selling


Thursday, April 3, 2014

A Spring Cleaning Checklist to help you get started

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A Comprehensive Spring Cleaning Checklist

Spring is finally here! This is the perfect time of year to give your home a thorough, top-to-bottom cleaning. Use this checklist to get you started:
Often overlooked tasks:
  • Wash walls and switch plates.
  • Clean window coverings and screens.
  • Thoroughly clean kitchen appliances.
  • Wash and repair children’s toys.
Get organized:
  • Empty coat closets of out-of-season clothing and gear.
  • Purge the pantry, remembering to check expiration dates.
  • Sort through storage areas.
  • Put family photos into albums or frames.
  • Sort through DVDs, books and magazines.
  • Declutter bedroom closets.
  • Get rid of ill-fitting or out-of-style clothing.
  • Check the bathroom cabinet for expired medicine, sunscreen or cosmetics.
Dusting do’s:
  • Wipe down electronics.
  • Clean computer and TV screens.
  • Dust or wash light fixtures.
  • Clean ceiling fan blades.
  • Vacuum floor registers and vent covers.
Laundry and soft surfaces:
  • Wash bedding, including duvets, pillows and mattress covers.
  • Spot clean upholstery.
  • Launder throw pillows and blankets.
  • Shampoo carpets and area rugs.
Pay attention to these details:
  • Polish wood furniture.
  • Sharpen knives and polish silverware.
  • Reseal grout lines.
  • Change smoke detector batteries.
Finish with the great outdoors:
  • Wash outdoor furniture and patio decks.
  • Clean windows and siding.
  • Do a thorough yard and garden cleanup.
  • Clear gutters and downspouts of debris.
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