In December I wrote about getting Netflix for the first time. While I still have not jumped on the 'Game Of Thrones' bandwagon, I noticed the first episode of season six reached 8 million viewers last weekend.
If you think about it, that is the estimated number of residents in NYC in 2010. Did you know that over the past 5 years, the estimated population in NYC has increased 4.6%? Not only is NYC at an all time high for population, but an all time high for jobs. These macroeconomic factors have pushed rental and sales prices higher than ever.
This quote is especially relevant for real estate in NYC as news publications are starting to chatter about a potential price correction. While the luxury market (over $5 million per unit) has a surplus of inventory, properties priced under $3 million are still increasing at double digit rates in parts of the Bronx and Brooklyn, and single and lower double digits in parts of Manhattan.
Please reach out to me if you want to 'get in the game'. That is, if you have any real estate specific questions, would simply like to discuss current market conditions, or wish to receive real estate news about your neighborhood.