The NYC Luxury Market

An October snapshot of the New York City real estate market reveals a nearly 24 percent jump in contracts, despite mortgage rates rising to nearly 8 percent. The burst of demand seemingly encouraged sellers to raise asking prices to the highest level in six years. Go figure! October is typically a busier month than September—when buyers are shaking off a vacation mindset or dealing with back to school. Notably, the increase in new contracts from September to October was close to the five-year average of 26.7 percent, despite mortgage rates rising to a 23-year high. Filmed at Brown Harris Stevens' Studio 1873, Part of the Mastery of Real Estate (MORE) Network.   Subscribe here:   https://podcasts.apple.com/us/podcast/talking-new-york-real-estate-with-vince-rocco/id1645541166   Connect with Vince Rocco here:    https://www.bhsusa.com/real-estate-agent/vince-rocco   Brown Harris Stevens is one of the largest privately owned real estate brokerages in the country, with more than 40 offices across four states: New York, New Jersey, Connecticut, and Florida.   https://bhsusa.com/ #Realestate #nyc #vincerocco #newyorkcity