June Newsletter

June Newsletter

  • Daniel Kramp
  • 06/1/22

Nationally, the market has started to cool. After two years of bidding wars that exhausted buyers, it looks like the rest of the States may have hit their peak.   

I am sure you all want to know if the New York market will follow.  Sorry, Charlie. I doubt it.  Remember, while homes in the suburbs were being gobbled up by desperate buyers, in  New York City, we were closed for business. So while nationally the prices soared, prices here never really changed. When you look at broad averages, prices are hovering right around where they were in 2019. The great fanfare you hear about in the news in New York is greatly related to deal volume - the number of people buying apartments. Which makes sense with so many people moving back to the city. 
Mortgage rates, market volatility, and inflation are the talk of the town.  Freddie Mac began tracking mortgage rate information in 1971. The average rate over all that time is just under 8 percent. Although it's reasonable that buyers desire continued low-interest rates, we all hope that the primary conditions that produced those rates — a total global economic collapse and subsequent global pandemic — will not be returning any time soon. With a normal economy, rates will most likely return to averages. So if you're waiting for rates to drop– fair warning, you may be waiting decades. The same goes for the sentiment that slightly higher rates will put a chill on the NYC market. It's unlikely. Remember the average purchase in NYC is about a million dollars. So the swing of a few hundred dollars most likely will not inhibit a sale in this market. Will people think about it a little more before they overbid?  Sure. 

The truth is people buy and sell homes when their lives change. That is the constant in real estate. 

Happy Summer!

Recently Sold and In Contract

Featured New Development 

180 East 88th Street
180 East 88th St, New York, NY 10128 | Carnegie Hill
An Elegant Welcome! The private gated entrance of 180 East 88th Street, accessed through a welcoming garden, harmonizes the old-world elegance and progressive modernity synonymous with the Upper East Side.
Rising high above the Upper East Side in Carnegie Hill, 180 East 88th Street is a luxury condominium with grand proportions. Its 48 residences feature precise detail, reinvigorating and reimagining a pre-war aesthetic. Ceiling heights stretch over 14' and 28' in duplexes, allowing expansive 9’ tall tilt-turn windows within a classic handset masonry façade.

A multi-level amenities area is crafted for an elevated vision of life on the Upper East Side, with dedicated basketball, soccer, fitness, play, convenience, pleasure, and entertainment spaces.

Second Home Corner

Coming Soon!
Move-in ready Cottage by a Lake in Sharon CT
2 BR  | 2 BA 

Offered at $350,000 | Taxes: $121/Month

For More Information

Sailing/Boating Anyone?

Is it just me, or is anyone else obsessed with the Sailing/Boating life? Anytime the sun is out, there is just an urge to be by a body of water or on a boat (which you can rent). If you have the same feeling overcoming your body with the beautiful weather we have been experiencing, you're going to want to check out Sailing/Boating in New York City.
This Way In ...

Licensed Associate RE Broker
Union Square Top Agent 2019,2020

Licensed in NY and CT


Work With Daniel

Daniel Kramp is a high-caliber real estate professional with top awards for his performance. He enjoys and is known for providing sound advice, attentive service and proven results to every sales and rental client. Contact now to be part of his success!