Central Park Real Estate Trends
Central Park Real Estate Trends
Real Estate sales in the Central Park neighborhood hit an all-time high in 2013. With record low inventory, record low interest rates and lots of buyer demand, many homes sold with multiple offers, bidding wars and a sales price well above the asking price. Many experts referred to the first half of 2013 as a “frenzied” buyer market which sharply pushed up prices. During the second half, the frenzy cooled because of rising interest rates but inventory remained low and home sales still continued at record numbers. Overall there were a total of 442 home sales, which was by far the most sales Central Park has seen since its last record year in 2012 with 359 sales. Median home prices have also continued to increase because of low inventory and...