NEW YORK, July 11, 2018 /PRNewswire/ -- Real estate
professionals are suggesting that now might be the optimum time to
purchase property in New York
City. "That's because we're currently in what's called a
buyer's or buyers' market," explains Natalia Sishodia, a real
estate broker with Brown Harris Stevens who lives and works in the
city.
Specializing in apartment sales and rentals, Sishodia is
well-versed in the highs and lows of New
York City's often volatile property market. "Sales by volume
are down by around 25%, and prices are currently 8% lower on
average than twelve months ago," she points out.
A buyers' market typically occurs during an economic situation
where goods, in this instance properties, are plentiful, and where,
as a result, buyers are in a stronger position overall than
sellers.
"It happens in most industries and markets, but the effects are
particularly pronounced where the situation pertains to property,"
says Sishodia.
The real estate expert suggests that often, a buyers' market
versus a sellers' market can be the single most significant
deciding factor in the ability of an individual, family, or group
to purchase a property or properties in a given area.
"It's particularly apparent in New
York City right now, perhaps more so than during any other
period in the last ten years or more," Sishodia adds. Wider figures
also reveal that the same is true to some degree of several other
large cities in the U.S. and more across Europe and elsewhere around the world.
According to Sishodia, the situation is most evident in
New York City's borough of
Manhattan and well-established
neighborhoods in Brooklyn and
Queens. "Areas such as Dumbo,
previously Gairville, and Long Island
City, often recognized for its plentiful art galleries," she
suggests.
"With that said, if you're considering acquiring property
anywhere in the New York City
area, my advice would be that now is a great time to explore the
possibilities on offer," she concludes.
Natalia Sishodia is a New
York-based real estate broker with Brown Harris Stevens, and
keen philanthropist and volunteer, having recently pledged her
support for Save the Children and Memorial Sloan Kettering Cancer
Center, while also committing a portion of her free time to help at
Trinity Church Wall Street's Brown Bag Lunch Ministry.
To learn more about Natalia Sishodia, you can read more about
her volunteering here.
Media Contact:
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Eric Blankenship
786-332-6554
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SOURCE Natalia Sishodia