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Real Estate in the Bronx - The real estate in the Bronx area is becoming more popular as the homebuyers look for deals across NYC. From single family homes to co-ops in high-rises, the Bronx has homes for sale that fit everyone's style. 

he Q3 2018 StreetEasy Market Reports show a historic drop in Manhattan home prices.

As summer came to a close, dynamics in the NYC real estate market continued to pivot in favor of buyers, particularly in Manhattan. The StreetEasy Manhattan Price Index [i] dropped to $1,142,742 in the third quarter of 2018, a decrease of 1.8 percent, or $20,597, since last year — marking the largest annual dip in prices since the financial crisis [ii], according to the Q3 2018 StreetEasy Market Reports [iii].

In addition to the decline in prices, for-sale inventory in Manhattan remained close to post-crisis highs, with nearly 5,000 new homes listed in the third quarter — a 7.8 percent increase from last year. Manhattan homes lingered on the market for a median of 96 days, the longest period since 2012 and eight days longer than in the third quarter of 2017.

Despite the increase in homes on the market, the number of homes sold decreased. Recorded sales [iv] in Manhattan dropped 16.9 percent year-over-year, with Brooklyn and Queens not far behind, falling 15.7 percent and 12.1 percent, respectively. This quarter also marked the lowest number of third-quarter sales since recovery from the financial crisis began in 2012.

“There’s a palpable shift in the market happening right now that’s mostly in favor of buyers, and we’re not done yet. Winter is typically the slowest home shopping season, and we’re already seeing a lot of homes lingering on the market,” says StreetEasy Senior Economist Grant Long. “Sellers that have priced their homes aggressively will likely have to offer some substantial price cuts, or risk spending several more months trying to find the right buyer. If they don’t strike a deal soon, they’ll be forced to compete with yet another wave of new homes hitting the market in the spring, making their chances of attracting a buyer even tougher.”  - StreetEasy Third Quarter Results. 2018