Wednesday, December 3, 2014

Williamsburg...The New West Village

The West Village has long been touted as one of the most desirable, and expensive, neighborhoods in the city, which is why it made me take note when several clients in the last few months have asked me for the West Village...or Williamsburg. With West Village dollars in hand, buyers are migrating at a quicker pace than ever to our fine neighborhood, and with Condo inventory down 29% year over year, buyer competition is pushing prices ever higher. The price per square foot for Williamsburg condos is up 16% year of over year in 2014, resulting in prices well over $1000/sqft and an average price increase of almost $200,000. At the same time, the price per square foot for a Williamsburg townhouse has dropped 3% year over year to an average of $681 per square foot. This competitive townhouse pricing, coupled with the large price increases for Condos make this the perfect time to make your move if you have ever dreamed of owning a whole building! Whether you are looking to trade up, or just move on, now is a perfect time to sell!