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This week in real estate market reports
A weekly feature bringing you the industry’s latest intel
According to the most recent market reports, Brooklyn is the least affordable county in the country to buy a home, and commercial lending dropped 17 percent in 2016 to $82 billion.
Residential
Luxury Sales | Olshan Realty
The total for luxury sales in Manhattan in the first quarter of 2017 was $2.4 billion for 330 contracts, compared to $1.9 billion for 220 contracts in 2016.
Read the full report here.
Features that increase rent | RentHop
In New York City, the features that have the highest correlation on higher rent prices are laundry in unit, a doorman and an elevator, followed by being pet-friendly and a fitness center in certain neighborhoods. Read the full report here.
Affordability index | RealtyTrac
Home affordability has dropped to an eight-year low. Brooklyn is the least affordable county in the country, requiring 121 percent of average income to purchase a median-priced home. Manhattan is No. 4, requiring 101.5 percent of average income for a median-priced home. Read the full report here.
Commercial
East Harlem report | GFI Realty Services
The dollar volume for single-family sales in East Harlem doubled in 2016 to $112 million from $56 million in 2015. Median home price and rental prices have increased 12 percent and 6 percent as the neighborhood prepares for a potential rezoning. Read the full report here.
CRE lending | CrediFi
Commercial real estate lending volume fell to $82 billion in 2016, down 17 percent from $99 billion year-over-year, with Deutsche Bank leading as most active lender. Read the full report here.