2022 NYC real estate forecast – what to expect
No matter where you are going to relocate, some things and facts stay the same. When it comes to real estate, there are things you need to be aware of. Before you decide to purchase real estate, you need to know how the market is functioning in a particular place where you would like to do it. It would be really pointless to buy a new home where you will have to pay a fortune to get it. When somewhere else you can get a better home, for a lower price. If you planned to move to New York City, wait a bit. It would be better to first check the 2022 NYC real estate forecast. This way you can make sure if you are making a proper purchase. Once you are sure in your decision and you do it, get your commercial movers in NYC and move.
Will the 2022 NYC forecast affect negatively the number of people that are relocating there?
To understand better how it will be in the future, you need to know how it was in the past. Researches in 2020 for 2021 were totally right. So, we strongly believe, these new researches will be correct as well. And only time will show that. The real estate market in New York City expanded even more than anyone expected, and it still is in the process of exposure. And this is only one of the reasons why people around the whole world, and not only from the United States are relocating to NYC to live. And in this part ‘to live’ it is meant that they buy their homes. Of course, not everyone is buying, a lot of them are renting as well. But it is all affecting the real estate market. And expanding it.
Another benefit from a real estate market that is expanding, is the economy. With this market expanding, we are also expanding the economy of a particular city. And NYC already has a booming economy. So there are only pluses when it comes to this topic. In 2021, the average sale price per square foot in New York was $644, which is 32.4% more than last year. Homes that are for sale in this city have a median listing price of $859K. Well, experts are only expecting higher prices in the future, not lower. If you believe that you can afford a purchase like this, go ahead and get the best long-distance moving companies NYC has. But if you are still not quite sure, hang in a little longer and make a correct decision.
Discover what is the real estate market situation currently in New York City, before you can understand the one for the upcoming years
To be able to understand the 2022 NYC real estate forecast, and to know what to expect, you got to sneak into the past and current situation. Even though it is almost the end of 2021, you still need this information. It will help you quite a lot to understand things better and how you were supposed to. And, needless to say, only by doing this, you will be able to compare all the statistics that need to be compared. So let’s dig deeper in the past and present to understand the future better. Before you can call up your local movers Manhattan has.
As we mentioned earlier, the average sale price per square foot in NYC is $644. And in the past month, around 3726 homes have been sold in New York. Normally, most homes that are for sale in NYC stay on the market for about 105 days. In September, the median list price of homes in NYC was $865K. And the median listing price was $799K and per square foot was $723. Believe it or not, in New York City, most homes sell about 1.5% below their asking price. Which is not that big of a surprise, is it?
Now, what is the 2022 NYC real estate forecast telling us? What are the predictions for the future in this amazing city?
Well, the moment you all have been waiting for. To understand what will exactly happen in 2022. Well, no one can tell you for sure, of course. But, this is not even the end. New York City will still be in progress in 2022. Experts believe it will stop by the year 2024. But for now, it is still developing. One of the reasons for this forecast is the fact that there are still a big number of properties that are stuck in inventory. For sure, if you really want to invest in NYC real estate market, and you still want to buy a place, the best place in Manhattan would be around Hudson Yards.
Many people believe that this area will have a quite nice future. There are also some of the options in Midtown East in places such as Turtle Bay, or Sutton Place. Definitely try to avoid the Lower Manhattan area and the Upper West Side. There are a lot of new housing plans that are and will affect on impact prices of properties. If you are just trying to get rich by purchasing real estate in Manhattan, then don’t do it. You won’t succeed. Or anywhere else in NYC. Only do it if it really is your dream, and you can afford it.
For sure, last but not least is to get your movers
Now that you know everything you need to know, you can make your final decision. You can actually either wait longer, and see what the real estate market will look like in the future, or simply do it now. If this is something you are sure about, then just do it. But, once you make this purchase, be aware you will need to hire the best residential movers Queens has. And because of that reason, you should do your calculations precisely. This can, and most likely will cost you quite a lot. So you want to make sure you have enough financial sources for everything.
Learn how to pack and do it on time
It doesn’t really matter if it is a long-distance or a local move. One thing is for sure. You will have to pack everything either way. Learn how to pack your belongings effectively, faster, and in a proper way. It will make your relocation less stressful.