The real estate market in New York City has not slowed down at all, this year.

Reports issued this week by four of New York City’s top residential property brokerages show that apartments closing in Manhattan during this year’s third quarter sold for an average of $1.37 million an increase of 6.3 percent from the same stretch a year ago.

During that same time period, the number of apartment homes up for sale declined by almost a third to 5,204.

Brokers report that prices have held up far better in Manhattan than other parts of the nation because of the high number of co-ops, which account for 70 percent of the local housing stock. Also, co-ops typically have rules in place that prevent buyers from using the riskiest of mortgage products.

All was not rosy, though, as the number of foreclosure auctions soared 64 percent — particularly hurting several parts of Brooklyn and Queens, most notably Bedford-Stuyvesant and Howard Beach.

Source: New York City Bucks Slowdown Trend – By Christine Haughney, The New York Times, by way of

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Updated:  1st Q 2018

Author Profile

John Ford
John Ford

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs

In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.


For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.


Back Bay

Beacon Hill

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Surrounding Communities of Boston
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.

John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114



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