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December 2020 Upper Manhattan Residential Real Estate Market Report

 

There’s no place like home for the holidays. Bizzarro here, and I’m bringing you a gift. The December Home Buyer’s market report.

 

we’re going to dive right into the three most important stats of December and they are mind-blowing. Buyers, listen up: 23.7% of the properties on the market have had a price reduction. The median price uptown alone has gone down 11% and the vest inventory is up again, 7.7%.

 

So what does this mean? If you are a buyer looking out there right now, it means this: things are on sale! Take this as your holiday sale! We’ve already seen almost a quarter of the market do a price reduction. There are opportunities up there and if inventory is increasing, that is going to allow you the opportunity to stretch your dollar and allow you the opportunity to have more choice and be a little more picky and obtain more of what you want.

 

So in recap, this winter has presented a tremendous opportunity to take advantage of a great market, it is a good time to buy. Enjoy the holidays from our family to yours. We’ll see you around the neighborhood.

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