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Sue's News and Views May 2022 |
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Dear All, It's hard to keep track of all that's changing and happening, it seems like the world spins twice as fast than it used to. The market looks elevated in a quickly changing macro environment. Factors like the Treasury yield 10 years approaching 3%, rising interest rates and low inventory make an impact - Inflation is now a global phenomenon! There's declining inventory and rising demand in a recovering market, and the recovery is local driven. Larger apartments in the luxury sector (over $ 4m) had an amazing run. Resale price per square foot (in contract listings) are at record level, negotiability is low. But the real estate market is not a day trade: We're in a secular bull run, an upward trending channel (similar to 2012-2015), mostly defined by tight inventory conditions. Generally speaking we're in a very active, high liquidity, tight supply (easing a little bit) marketplace. The rental market is still on fire: In New York, the median rental price has jumped 20% in the past year after a 21% drop in the Pandemic. Inventory dropped 58% YoY, medium asking rents in Manhattan increased 36,9%, YoY. And all the while the trees are breaking out in color and the air smells like spring... Remember to notice your surroundings, activate your senses, and breathe!Happy Mother's Day Warmly, sue |
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Featured Listing: |
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Manhattan Weekly Luxury Report |
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The Manhattan luxury real estate market, defined as all properties priced $3.5M and above, saw 47 contracts signed this week, made up of 24 condos, 19 co-ops, and 4 houses. The previous week saw 47 deals. For more information and data, please reach out to me. More stats click into the image below or HERE. |
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Real Estate in the News |
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The 15 Best Places to Buy a Home in the U.S. if You Want it to Increase in Value For most people, buying a home is one of the biggest purchases they’ll make in their life. And for those looking for a home that will eventually increase in value, location can make a big difference, according to a recent SmartAsset study that ranked real estate markets by their growth in value over time. The study examined home prices dating back to 1997 across 400 metropolitan areas in the U.S. and ranked each based on home value growth and price stability. |
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New York City May Events |
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Yes. Mothers need to be celebrated! In gratitude to all the mothers who care for their children with devotion and unconditional love. Who make the impossible possible. Who go above and beyond, stay strong as a rock and nimble like a mountain creek. Who hold communities together, tirelessly. Who support their childrens' fathers. They deserve this special day. |
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May is Asian/Pacific American Heritage Month The Library of Congress, National Archives and Records Administration, National Endowment for the Humanities, National Gallery of Art, National Park Service, Smithsonian Institution and United States Holocaust Memorial Museum join in paying tribute to the generations of Asian and Pacific Islanders who have enriched America's history and are instrumental in its future success. |
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On May 6 the 2022 TONY Awards Nominations were pronounced. Works and performances in 25 categories are nominated for one of the treasured TONY Awards - The awards for live Theatre on Broadway. The 75th Annual Tony Awards will be given out on Sunday, June 12, at Radio City Music Hall and broadcast live on CBS starting at 8pm ET. HERE a list of the nominees. |
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After nearly two years of being dark, the classic competition returns to shed light on the careers of a whole new roster of stars. Be a part of the notoriously “tough” audience in an interactive, family-friendly evening unlike any other. May 11, 7:30pm Tickets click HERE |
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Photography Show From May 20-22, come see Center415's 41st edition of the incredible Photography Show. This photo exhibition will bring 49 galleries and exhibitors from nine countries and 23 cities around the world! The featured exhibitors are all recognized as the world's leading galleries in fine art photography and are all active members of the Association of International Photography Art Dealers (AIPAD). Click HERE to learn more about this fantastic show and to purchase tickets for the event. |
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Japan Parade in Central Park Japan Day in New York City is a joyous celebration of the Japanese culture, with a parade that will take place in Central Park West on May 14th at 1 PM EST. Come and experience this historical event that commemorates the 160th anniversary of the first Japanese delegates’ visit to the U.S. in 1860. Click HERE to learn more about how you can support, march, and absorb the beautiful culture of Japan. |
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Lifestyle Tips & Tricks |
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Buying New Construction? 5 Costly Mistakes to Avoid Brand-new homes offer enhanced energy efficiency, amenities and layouts more suited to modern lifestyles, plus the potential to customize spaces that you don’t get with a resale. But if you’re not careful, costs and expectations can spiral out of control. The good news is that following these tips for buying new-construction homes can save you money — and hassle. |
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How to Mix Bold Colors in Your Home Designers say that color has the ability to transform a house into a home. And yet, so many people still feel a bit hesitant to use vivacious shades in their interiors, fearing it will make the space feel overwhelming. Consider this a colorful playbook for your home refresh! |
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How Mother's Day Became a National Holiday and How to Celebrate in 2022 Moms truly are superheroes, so it's only fair that we have a whole day dedicated to them. Mother's Day is all about celebrating moms and mother figures everywhere. These days, the holiday is often celebrated with cards, gifts, and breakfast in bed, but it wasn't always that way. The holiday has a fascinating history filled with inspiring women that's worth learning about. |
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Easy Annual Plants That Bloom All Summer Long Whether your garden is a large country plot or a group of containers on a city balcony, easy-to-grow annuals can add a burst of color wherever you need it. Why not give yourself the joy of endless summer color? |
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