{"id":1,"date":"2020-01-21T04:13:20","date_gmt":"2020-01-21T04:13:20","guid":{"rendered":"https:\/\/singhaccounting.com\/?p=1"},"modified":"2021-01-19T22:29:52","modified_gmt":"2021-01-19T22:29:52","slug":"hello-world","status":"publish","type":"post","link":"https:\/\/singhaccounting.com\/?p=1","title":{"rendered":"Manhattan luxury condo prices drop to lowest levels since 2013"},"content":{"rendered":"\n

Meanwhile, luxury units continue to be added to the market!<\/p>\n\n\n\n

Over 25 percent of Manhattan\u2019s newly built luxury condos remain unsold<\/a>, and prices may have finally<\/em> begun to adjust to that glut of units. According to a new StreetEasy report<\/a>, luxury home prices, which constitute 20 percent of Manhattan real estate, dropped to their lowest levels since 2013 in the last quarter of 2019, $3,816,835, a 6.1 percent decrease from the prior year.<\/p>\n\n\n\n

But, even as prices dropped, adjusting to a widely known surplus<\/a>, more units continue to be added to the market: StreetEasy\u2019s report<\/a> shows that luxury inventory increased 12.2 percent over the last year, that is more than 4,000 homes over the $3.816 million threshold.<\/p>\n\n\n\n

Manhattan\u2019s overall home prices have been lowering for a while now<\/a>, and this quarter was not the exception, as prices dropped 3.7 percent, to $1,086,217, based on StreetEasy\u2019s price index, which tracks changes in resale condo, co-op, and townhouse prices. Homes in the borough also lingered on the market for 96 days, the report says, 10 more than last year.<\/p>\n\n\n\n

\n
 <\/div>\n<\/div>\n\n\n\n

\u201cWith so much new construction saturating the Manhattan real estate market, we were bound to see prices start to sink at record paces,\u201d StreetEasy economist Nancy Wu said in a statement. \u201cThis is happening across all price points and boroughs, as prospective buyers wait out the market from the comfort of their rentals.\u201d<\/p>\n\n\n\n

Similarly to the previous quarter, the Brooklyn and Queens markets didn\u2019t see significant change. Brooklyn\u2019s price index was $696,016 by the end of the quarter (it was $696,076 in the previous one), while Queens\u2019s was $509,902 ($507,224 in the previous quarter). But, in Queens, inventory did increase 1.2 percent, to 4,308 homes compared to last year.<\/p>\n\n\n\n

Now, based on all this, what should buyers expect during the rest of the year? According to StreetEasy, they\u2019re in the \u201cdriver\u2019s seat\u201d with a ton of leverage for negotiating and plenty of units to choose from.<\/p>\n\n\n\n

\u201cMarket dynamics in 2020 will continue to favor the buyer across all price tiers, and many sellers will have to face the fact that if they want to sell, it may very well be for less than their initial asking price,\u201d Wu said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Meanwhile, luxury units continue to be added to the market! Over 25 percent of Manhattan\u2019s newly built luxury condos remain unsold, and prices may have finally begun to adjust to that glut of units. According to a new StreetEasy report, luxury home prices, which constitute 20 percent of Manhattan real estate, dropped to their lowest levels since 2013 in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"plain-container","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"disabled","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"enabled","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1","post","type-post","status-publish","format-standard","hentry","category-real-estate-agency"],"yoast_head":"\nManhattan luxury condo prices drop to lowest levels since 2013 - Inderpreet Singh CPA<\/title>\n<meta name=\"description\" content=\"Minimise your taxes, grow your business and wealth. Hire us! Our firm guarantees expert tax and accounting services to help you attain your financial goals.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/singhaccounting.com\/?p=1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Manhattan luxury condo prices drop to lowest levels since 2013 - Inderpreet Singh CPA\" \/>\n<meta property=\"og:description\" content=\"Minimise your taxes, grow your business and wealth. Hire us! Our firm guarantees expert tax and accounting services to help you attain your financial goals.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/singhaccounting.com\/?p=1\" \/>\n<meta property=\"og:site_name\" content=\"Inderpreet Singh CPA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/m.facebook.com\/inderpreet1102\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-21T04:13:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-19T22:29:52+00:00\" \/>\n<meta name=\"author\" content=\"Inderpreet Singh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Inderpreet Singh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/singhaccounting.com\/?p=1#article\",\"isPartOf\":{\"@id\":\"https:\/\/singhaccounting.com\/?p=1\"},\"author\":{\"name\":\"Inderpreet Singh\",\"@id\":\"https:\/\/singhaccounting.com\/#\/schema\/person\/4fa1d3148f6505a2f8869660915b5ace\"},\"headline\":\"Manhattan luxury condo prices drop to lowest levels since 2013\",\"datePublished\":\"2020-01-21T04:13:20+00:00\",\"dateModified\":\"2021-01-19T22:29:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/singhaccounting.com\/?p=1\"},\"wordCount\":373,\"commentCount\":60,\"publisher\":{\"@id\":\"https:\/\/singhaccounting.com\/#organization\"},\"articleSection\":[\"Real Estate Agency\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/singhaccounting.com\/?p=1#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/singhaccounting.com\/?p=1\",\"url\":\"https:\/\/singhaccounting.com\/?p=1\",\"name\":\"Manhattan luxury condo prices drop to lowest levels since 2013 - Inderpreet Singh CPA\",\"isPartOf\":{\"@id\":\"https:\/\/singhaccounting.com\/#website\"},\"datePublished\":\"2020-01-21T04:13:20+00:00\",\"dateModified\":\"2021-01-19T22:29:52+00:00\",\"description\":\"Minimise your taxes, grow your business and wealth. Hire us! Our firm guarantees expert tax and accounting services to help you attain your financial goals.\",\"breadcrumb\":{\"@id\":\"https:\/\/singhaccounting.com\/?p=1#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/singhaccounting.com\/?p=1\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/singhaccounting.com\/?p=1#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/singhaccounting.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Manhattan luxury condo prices drop to lowest levels since 2013\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/singhaccounting.com\/#website\",\"url\":\"https:\/\/singhaccounting.com\/\",\"name\":\"Inderpreet Singh CPA\",\"description\":\"We help you keep your savings\",\"publisher\":{\"@id\":\"https:\/\/singhaccounting.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/singhaccounting.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/singhaccounting.com\/#organization\",\"name\":\"Inderpreet Singh CPA PLLC\",\"url\":\"https:\/\/singhaccounting.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/singhaccounting.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/singhaccounting.com\/wp-content\/uploads\/2020\/03\/cropped-logo-1-2.png\",\"contentUrl\":\"https:\/\/singhaccounting.com\/wp-content\/uploads\/2020\/03\/cropped-logo-1-2.png\",\"width\":332,\"height\":222,\"caption\":\"Inderpreet Singh CPA PLLC\"},\"image\":{\"@id\":\"https:\/\/singhaccounting.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/m.facebook.com\/inderpreet1102\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/singhaccounting.com\/#\/schema\/person\/4fa1d3148f6505a2f8869660915b5ace\",\"name\":\"Inderpreet Singh\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/singhaccounting.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/96f0347092ef55a9fc2490088e7b60656c67a441d869865671225236489ff484?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/96f0347092ef55a9fc2490088e7b60656c67a441d869865671225236489ff484?s=96&d=mm&r=g\",\"caption\":\"Inderpreet Singh\"},\"sameAs\":[\"https:\/\/singhaccounting.com\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Manhattan luxury condo prices drop to lowest levels since 2013 - Inderpreet Singh CPA","description":"Minimise your taxes, grow your business and wealth. Hire us! Our firm guarantees expert tax and accounting services to help you attain your financial goals.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/singhaccounting.com\/?p=1","og_locale":"en_US","og_type":"article","og_title":"Manhattan luxury condo prices drop to lowest levels since 2013 - Inderpreet Singh CPA","og_description":"Minimise your taxes, grow your business and wealth. Hire us! Our firm guarantees expert tax and accounting services to help you attain your financial goals.","og_url":"https:\/\/singhaccounting.com\/?p=1","og_site_name":"Inderpreet Singh CPA","article_publisher":"https:\/\/m.facebook.com\/inderpreet1102","article_published_time":"2020-01-21T04:13:20+00:00","article_modified_time":"2021-01-19T22:29:52+00:00","author":"Inderpreet Singh","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Inderpreet Singh","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/singhaccounting.com\/?p=1#article","isPartOf":{"@id":"https:\/\/singhaccounting.com\/?p=1"},"author":{"name":"Inderpreet Singh","@id":"https:\/\/singhaccounting.com\/#\/schema\/person\/4fa1d3148f6505a2f8869660915b5ace"},"headline":"Manhattan luxury condo prices drop to lowest levels since 2013","datePublished":"2020-01-21T04:13:20+00:00","dateModified":"2021-01-19T22:29:52+00:00","mainEntityOfPage":{"@id":"https:\/\/singhaccounting.com\/?p=1"},"wordCount":373,"commentCount":60,"publisher":{"@id":"https:\/\/singhaccounting.com\/#organization"},"articleSection":["Real Estate Agency"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/singhaccounting.com\/?p=1#respond"]}]},{"@type":"WebPage","@id":"https:\/\/singhaccounting.com\/?p=1","url":"https:\/\/singhaccounting.com\/?p=1","name":"Manhattan luxury condo prices drop to lowest levels since 2013 - Inderpreet Singh CPA","isPartOf":{"@id":"https:\/\/singhaccounting.com\/#website"},"datePublished":"2020-01-21T04:13:20+00:00","dateModified":"2021-01-19T22:29:52+00:00","description":"Minimise your taxes, grow your business and wealth. Hire us! Our firm guarantees expert tax and accounting services to help you attain your financial goals.","breadcrumb":{"@id":"https:\/\/singhaccounting.com\/?p=1#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/singhaccounting.com\/?p=1"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/singhaccounting.com\/?p=1#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/singhaccounting.com\/"},{"@type":"ListItem","position":2,"name":"Manhattan luxury condo prices drop to lowest levels since 2013"}]},{"@type":"WebSite","@id":"https:\/\/singhaccounting.com\/#website","url":"https:\/\/singhaccounting.com\/","name":"Inderpreet Singh CPA","description":"We help you keep your savings","publisher":{"@id":"https:\/\/singhaccounting.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/singhaccounting.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/singhaccounting.com\/#organization","name":"Inderpreet Singh CPA PLLC","url":"https:\/\/singhaccounting.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/singhaccounting.com\/#\/schema\/logo\/image\/","url":"https:\/\/singhaccounting.com\/wp-content\/uploads\/2020\/03\/cropped-logo-1-2.png","contentUrl":"https:\/\/singhaccounting.com\/wp-content\/uploads\/2020\/03\/cropped-logo-1-2.png","width":332,"height":222,"caption":"Inderpreet Singh CPA PLLC"},"image":{"@id":"https:\/\/singhaccounting.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/m.facebook.com\/inderpreet1102"]},{"@type":"Person","@id":"https:\/\/singhaccounting.com\/#\/schema\/person\/4fa1d3148f6505a2f8869660915b5ace","name":"Inderpreet Singh","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/singhaccounting.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/96f0347092ef55a9fc2490088e7b60656c67a441d869865671225236489ff484?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/96f0347092ef55a9fc2490088e7b60656c67a441d869865671225236489ff484?s=96&d=mm&r=g","caption":"Inderpreet Singh"},"sameAs":["https:\/\/singhaccounting.com"]}]}},"_links":{"self":[{"href":"https:\/\/singhaccounting.com\/index.php?rest_route=\/wp\/v2\/posts\/1","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/singhaccounting.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/singhaccounting.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/singhaccounting.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/singhaccounting.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1"}],"version-history":[{"count":11,"href":"https:\/\/singhaccounting.com\/index.php?rest_route=\/wp\/v2\/posts\/1\/revisions"}],"predecessor-version":[{"id":743,"href":"https:\/\/singhaccounting.com\/index.php?rest_route=\/wp\/v2\/posts\/1\/revisions\/743"}],"wp:attachment":[{"href":"https:\/\/singhaccounting.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/singhaccounting.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/singhaccounting.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}