Kaito Newsletter – Fall 2022
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Kaito Newsletter – Fall 2022
30 Sep Kaito Newsletter – Fall 2022
Posted at 16:01h
in
Newsletter
by admin
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Hi! The market snapshot below shows that the 2022 market activity is similar to that of 2019, which is a more stable, sane market than 2021. Timing markets perfectly is very difficult but timing to your life needs is rather simple. Now more than ever, buyers and sellers are wondering if this is the right time to buy or sell. That will depend on your personal situation and I am happy to chat and provide thoughtful guidance to you. It is ever more essential in these changing times to work with a knowledgeable real estate agent to navigate any challenges with you.
As always, please reach out if we can help you with your real estate needs. The team’s wide range of services include pre-development planning, New Development sales and marketing, Manhattan and Brooklyn condo, co-op, and townhouse resales and purchases, and rentals in all ranges. We are always excited to chat through these options with you and are committed to making the experience a valuable and educational one for you. |
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MARKET SNAPSHOT WEEK OF SEPT 4 – SEPT 11 |
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Tinnie Chan Sassano
Compass
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MANHATTAN MARKET REPORT Q2 2022 HIGHLIGHTS |
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RECORDED SALES
- Overall sales slightly outpaced the Q2 record set last year, climbing 7.9%, following last quarter’s continued surge of contract activity
- Condo sales were up 4.8% year-over-year, while co-ops were up 10.8%
CONTRACTS SIGNED
- Contract activity was significantly slower, falling 24.6% year- over-year, following the record set in Q2 2021
- Prices remained elevated, but declined overall on average compared to Q2 last year, down 2.4%, while the median price increased a modest 1.7%
INVENTORY
- Active properties climbed to 7,024, a 16.2% increase quarter- over-quarter and 5.7% increase year-over-year
- The rate of quarterly change in inventory is accelerating as activity slows from its 2021 heights
- Inventory prices were up slightly year-over-year, despite almost 11% growth in average square footage, which along with decreased average discounts, suggests an implied correction of property prices
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BROOKLYN MARKET REPORT Q2 2022 HIGHLIGHTS |
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RECORDED SALES
- Overall sales increased just 1% YoY to 3,577, with only co-ops and houses seeing growth
- Prices reached their highest values on record, with a $975K median price, $1.261M average price, and $905 average price per square foot
CONTRACTS SIGNED
- The number of contracts signed this quarter declined 21.1% year-over-year following the record-setting activity in 2021
- The median price of contracts was up 1.5% from this time last year, but fell 4.3% quarter-over-quarter, the first notable decline in price since the onset of the COVID-19 pandemic
INVENTORY
- Inventory climbed 4.6% year-over-year and 24.9% quarter- over-quarter to 4,017 active properties
- Condos saw the largest quarter-over-quarter increase in inventory, up 31.5%
- New listings were down 8.6% year-over-year, but up 26.1% quarter-over-quarter, a steep increase compared to last quarter’s growth of just 8.2%
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City buyers seek a variety of amenities in the Hudson Valley. Read about it here. |

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15 festive things to do in the Fall in the Hudson Valley, just a quick two hour drive from NYC. Read about it here. |
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Thank you to our contributors and we hope you enjoyed.
As always, please let us know if we can help in any way by contacting us through your building portal or email. We are excited to share some great news about upcoming Kaito products & collaborations in the near future!
Steven Baker
Chief Executive Officer
Office: 718.788.6500
Fax: 718.521.4816
steven@kaito.nyc
kaitoservices.com |
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