In the marketing world, time and price usually correlate. Properties in more expensive areas end to stay on the market longer, while properties in cheaper neighborhoods tend to sell easily. However, in Manhattan, the median amount of days for a property to sell is ninety-six. This shows that buyers may have more flexibility in highly sought out areas. Manhattan is a wise area to invest into because no matter what is happening in the world, Manhattan real estate tends to remain stable and strong. Everyone wants to live in Manhattan, making the demands for real estate in its neighborhoods higher than its supply.
Here is a list of areas in Manhattan which you’d be wise to make an invest in:
1. Battery Park City
Properties in Battery Park City tend to sell in about ninety-nine days. And you can rake in an average of 902 500 dollars. Battery Park City is located on the southern tip of Manhattan, and is a planned, mainly residential community, fit for families. This makes it a highly sought out area.
The houses are spacious, with at least two bedrooms and bathrooms. The architecture is modern.
Overall, you see many families trying to score a house in this peaceful neighborhood.
2. Upper East Side
Another smart place to invest in would be the Upper East Side. While the average days on market for properties is higher in comparison to other areas, at an estimated one hundred and nine days, it proves to be a successful investment area. The average sale price in an area like this is $1.4 million! The Upper East Side is a posh, upper-class neighborhood in Manhattan, and has experienced a considerable shift in the marketing condition. The neighborhood is one of the most affluent in Manhattan, and enjoys a central position to all the major areas. There are many condos in the Upper East Side, perfect for investing in.
3. Upper West Side
Properties in the Upper West Side are usually on the market for an average of ninety eight days. Houses in this magnificent neighborhood can sell high, at about 1.21 million dollars! This neighborhood enjoys its position as being one of the biggest and most dense in Manhattan. It usually has the highest inventory level in the city.
4. Chelsea
Chelsea is one of the more historical neighborhoods in Manhattan. Properties in this neighborhood usually remain on the market for about one hundred days. These unique houses can sell for roughly 1.6 million dollars! The historical appeal of the houses has fueled competition between buyers for years, and drawn interest from many potential buyers.
Manhattan is a large island, and the neighborhoods are some of the most peaceful in New York, this makes it favorable for families to look at while trying to find a place to settle. Which makes it a wise investment area. For people seeking exposure to art, diversity and culture, Manhattan is a wise area to settle into.
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