January was a month of mixed messages. Looking at the luxury sector, the number of contracts signed was indeed down on the month, however we and other colleagues noted a significant uptick in showing activity and bids coming in on newly listed homes. While the inventory that has been on for some time is still sitting and will continue to do so until “priced right”, new to market inventory seems to be moving – again only if priced where buyers see value. In all price ranges and neighborhoods, we saw a huge increase in requests to see property -that said, a lot of buyers are commenting that they like what they see but want to “wait and see” on price. Getting out ahead of this notion and pricing right at the perceived value is vital.
Below is a video of Jeremy sharing tips and advice on pricing in a buyer’s market.
Jeremy Stein represented The Stein Team at this year's Inman Connect in New York City, a week-long event bringing together more than 4,000 top-producing agents, brokers and CEOs of leading real estate franchises to network and explore the newest technology.
Jeremy participated in a panel of some of the city's top team leaders to share and discuss both the successes and pitfalls they made when they built their real estate teams.
An article summarizing the panel discussion can be found on Inman.
We'd like to thank all of our friends, family and clients for their continued support and we are confident that we will continue to achieve great results for our clients in the year to come.
NEW VIDEO TOUR
We are excited to share our Video Tour of 15 East 91st Street, Apartment 9A. Our Video Tours allow prospective buyers to visit our listings from the comfort of their own home.
Enjoy a tour of this spectacular offering with Jeremy Stein. Awe inspiring Central Park and Reservoir views complement this renovated 4-bedroom, 4.5-bath home with a private outdoor terrace in one of Carnegie Hill's most premier, full-service cooperatives.
We are proud to share with you Sotheby's International Realty's recently released Fourth Quarter Market Report. We encourage you to review the entire report, but here are some of our most important takeaways:
The number of closed sales in Q4 2018 saw a 6% decline from the prior year.
The under $3M market made up 85% of all sales activity in Q4 2018.
The average sale price of all recorded Manhattan apartment sales was $1.98M, a 3% increase over the prior year.
Enjoy the full report by following the link below.
We're calling it now that 2019 will be the year of Hudson Yards. Big things are happening in the burgeoning development - by Spring, many of its public amenities: the shopping center, restaurants, the park featuring Thomas Heatherwick’s Vessel landmark will all debut.
And now, the mega-project’s cultural center, The Shed, is getting ready for its close-up, with the venue recently announcing its opening date: April 5. As one of the first and most unique aspects of Hudson Yards to open, The Shed will be New York’s first multi-arts center designed to commission, produce, and present all types of performing arts, visual arts, and popular culture.
Designed by starchitect studio Diller Scofidio + Renfro, The Shed is a unique structure which has a retractable outer shell that expands to transform the space, and can accommodate different types of performances.
Enjoy a video showcasing The Shed's innovative structure via virtual animation by following the link below.
This month, we're focusing on a unique development in home decor trends that is shaping how people are designing and living in homes in 2019 and beyond - the key word: sustainability. Elle Decor interviewed industry heads and they all agreed that sustainability is sweeping the design world, and being strategic and purposeful when designing and curating your home is the key ingredient to following that ethos. Home owners are now more than ever asking the questions, 'Who are you purchasing from?' 'What values do they stand for?' and 'What type of materials are used?'
We are a machine- and technology-driven society, but nostalgic about past processes and handiwork, so opportunities for custom Millwork and crafted materials are very important. Pieces made by hand using sustainable materials like jute, rice paper, and clay will all be en vogue in 2019.
OFF THE BEATEN TRACK
SPOTLIGHT ON BEVERLY HILLS
As members of the Market Leader Partners Initiative, comprised of Sotheby's International Real Estate’s finest professionals in every key market around the world, we want to introduce you to our Beverly Hills partner Marc Noah and his property at 2781 Benedict Canyon Drive.
This e-mail was sent by Sotheby's International Realty, Inc. located at 38 East 61st Street, New York, NY 10065. To not receive further e-mails from The Stein Team at this address, please follow this link.