–Over Three-Quarters Surveyed Report Optimism for Third Quarter–
NEW YORK, NY – July 21, 2011 – (RealEstateRama) — A broker survey conducted by the Real Estate Board of New York (REBNY) for the second quarter of 2011 found that 77 percent believe next quarter’s values and sales will be better than or the same as this quarter. Also, 10 percent more brokers reported closing sales at or above asking price compared to what brokers reported in the second quarter of 2010.
Tweet this: 77% of residential brokers surveyed by @REBNY optimistic about third quarter; 10% more brokers report closing sales at or above asking price The survey found that over three-quarters (77 percent) of respondents reported closing rental transactions at or above asking rent this quarter, up 16 percent from last quarter. Additionally, 13 percent more brokers reported closing rental transactions and four percent more reported closing sales compared to last quarter.
“Our latest survey shows that residential brokers see slow but steady progress in the New York City residential sales market,” said REBNY President Steven Spinola. “The report demonstrates modest improvement in comparison to the first quarter of 2011, which is essential to continuing the market’s growth and keeping the industry optimistic through the second half of the year.”
According to the survey, 59 percent of brokers reported using neighborhood names (i.e. DUMBO, SoHo) when marketing their properties, and 40 percent reported finding clients more responsive to properties using neighborhood names than to those not including them. The survey inquired about neighborhood names as a result of pending legislation that could impact the use of neighborhood names in real estate listings.
The survey was sent to REBNY’s Residential Broker Members via email shortly before the end of the quarter on June 21st. They were given until July 6th to submit their results.
About The Real Estate Board of New York
The Real Estate Board of New York is the city’s leading real estate trade association with more than 12,000 members. REBNY represents major commercial and residential property owners and builders, brokers and managers, banks, financial service companies, utilities, attorneys, architects, contractors and other individuals and institutions professionally interested in the city’s real estate. REBNY is involved in crucial municipal matters including tax policy, city planning and zoning, rental conditions, land use policy, building codes and legislation. In addition, REBNY publishes reports providing indicators of market prices for both the residential and commercial sectors.
Please visit us online at www.REBNY.com.
Contact:
Christi Mueller, Cara Gentile
The Marino Organization
(212) 889-0808
christi (at) themarino (dot) org; cara (at) themarino (dot) org
