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Tag: new york real estate

What is the state of the real estate market in New Jersey?

Now is a great time to get invested in the state of the real estate market in New Jersey. For a number of reasons, this market has been growing over the years, and it offers a lot of great opportunities.

New Jersey became a part of the United States in 1787, making it one of the first states in the union and also one of the most popular from the very beginning. Over the years, the Garden State has only become more populated, and today it holds more than nine million people in it.

New Jersey holds a special place in American history as it was a part of the Revolutionary War, the Civil War, and the Industrial Revolution, Civil Rights movement, and so many other major moments in United States history. Today, a lot of people think of Jersey as simply the state that sits right next to New York, but there is so much more to Jersey.

There are so many great locations, parks, restaurants, businesses, and homes in New Jersey that it’s no surprise so many people are moving there year after year. It is always one of the most sought-after locations for people who are looking to move.

The real estate market in New Jersey is a subject of great attention and always has been. These days, New Jersey is booming and thriving and the market is full of life. If you are thinking of moving to New Jersey, there are certain things you should keep in mind. Buying into the real estate market is a major investment and you should know what you’re getting yourself into.

Our guide will teach you what you need to know about the present and future of the New Jersey real estate market. If you are thinking of planting your flag in New Jersey and buying a home, renting an apartment, finding a luxury penthouse, townhouse, or condo, you should pay attention to the current state of the market.

How much does it cost to buy a home in New Jersey?

If you are thinking of moving to New Jersey, you should be prepared to spend a good amount of money to live there. The market in Jersey is always pretty popular but lately it’s been growing more and more, year after year.

PropertyShark and the NJMLS estimates that the median sale price in New Jersey during Q1 2023 is $620,000, which is a four percent increase from last year. In fact, over the last five years, the New Jersey real estate market has climbed steadily. Of all the cities in the state, the ones that are growing the fastest in terms of pricing are Fort Lee, Sicklerville, East Orange, Ocean City, and North Bergen.

As you can see, buying a home in New Jersey isn’t cheap, although it isn’t as expensive as buying in New York, Connecticut and other states in that part of the country. That is one of the most appealing features of Jersey real estate, especially thanks to its proximity to New York City and easy transportation access to Manhattan by train or bus. And it’s also one of the reasons why so many people are always tuned in and paying attention to New Jersey real estate.

How is the New Jersey real estate market? 

Because of the success that seems to always find it, the New Jersey real estate market is doing quite well. In fact, it is doing better than many other neighboring states.

Houses on the market in New Jersey are usually sold about 80 days after their listing, which shows the great interest in this part of the country. There are also a smaller number of listing on the market, about 12% less than last year at the same period, driving more competition and bidding wars.  

The good news is that the prices aren’t increasing so much that other people aren’t able to move to New Jersey. This suggests that the market will only improve over the next few years because the pricing isn’t too astronomical to invite fresh New Jersey residents from all over the country. 

The increase in pricing shows that demand to move to New Jersey is still strong, and the market is doing very well.  

Summary

Over the last few years, New Jersey has become one of the most popular and sought-after real estate markets in the country and there is evidence to suggest that will continue in the years ahead. 

The market has been steadily climbing to new heights over the last five years, even with the COVID pandemic hobbling the industry and shutting down sales in many ways. As things become more normal, the economy improves, and New Jersey continues to be a popular state in America, you can expect to see the real estate business in New Jersey keep flourishing.

This means that now is a great time to get into New Jersey real estate. Whether you want to move to Jersey or buy a place as an investment, the present is the perfect time to get involved. If you are ready to do that, contact us at BARNES New York. We know the ins and outs of all real estate markets, including the luxury housing market in New Jersey. We are ready to help you take the next steps and find your new home.  

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In the Media – Westchester County by LePetitJournal

Want to know more about the beautiful, green county of Westchester?

Read this article by LePetitJournal, presenting the advantages of living in Westchester County as well as a real estate overview of the different cities. This vibrant area offers various villages and small cities with different living environments, a quieter suburban feeling with lush green sceneries and more space than in the city.

Read the article on LePetitJournal:

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Real Estate Market Update NY, Westchester and Connecticut – Q2 2023 – Free Webinar

Yann Rousseau, Managing Partner of BARNES New York, Westchester & Connecticut, will present the latest real estate market update for New York City and its region (Westchester and Connecticut) in 2 webinars in the coming weeks:

  • Tuesday, July 18th at 12pm EST (NEW YORK) / 18h (FRANCE) in French
  • Friday, July 28th at 12pm EST (NEW YORK) / 5pm (LONDON – UK) in English

Free registration! Click on the link below:

Register for the French Webinar
Register for the English Webinar

In the Media – 2023 Real Estate Opportunities by BARNES

The New York real estate market is one of the most dynamic and exciting markets in the world. It is characterized by its uniqueness and its capacity to overcome all crises that come in its way. In this article, Yann Rousseau, Managing Partner of BARNES New York, draws up a report of 2022 and presents opportunities for 2023. Discover BARNES’ article for the French American Chamber of Commerce.

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BARNES New York’s Conference Tour in Europe – May 2023

BARNES New York is pleased to invite you to London, Brussels and Bordeaux in May 2023 for conferences on real estate investment in the United States. The conferences are scheduled as follows:

  • Bordeaux – May 25th, 2023, 6 pm to 8:30 pm (Hôtel de Sèze, 23 Allées de Tourny, 33000 Bordeaux)
  • Brussels – May 30th, 2023, 6 pm to 9 pm (« The Merode », Place Poelaert 6, 1000 Bruxelles)
  • London – May 31st, 2023, 6 pm to 8:30 pm (BARNES International London, 113-115 Old Brompton Road, South Kensington, London SW7 3LE) – In English

Yann Rousseau, Managing Partner of BARNES New York, and Myriam Benhamou, Associate Real Estate Broker, will present the New York real estate market, the acquisition and financing process, and the current opportunities for new developments in one of the most attractive cities in the United States. The conferences will be followed by a cocktail reception. Please register for the conferences by clicking on the links below:

Register for Bordeaux
Register for Brussels
Register for London

What are the best real estate brokerages in New York ?

New York City, the most populous city in the United States, is famous all over the world. With endearing nicknames like “The Big Apple” and “The City That Never Sleeps,” NYC is a location that will never go out of style when it comes to buying and selling real estate. As a result, the demand for properties is perpetually high—among some of the highest worldwide. One the best real estate brokerages, BARNES New York, is here to assist in navigating the complexities of this unique city.  

During the earlier stages of the Pandemic, real estate agents were unable to work as effectively, if at all, and sales dropped by 54.1% in Manhattan; however, toward the end of the year, New York came back to life, and buyers have come back strong. However, this poses a challenge for individuals searching for the right place for them, as the demand may be higher than the supply. 

The BARNES New York branch is prepared to provide services for buyers looking to invest in NYC both locally and from afar. This branch has over 10 years of experience and is dedicated to providing reliable services to clients without breaking the bank, hence its reputation as one of the best real estate brokerages. In addition, our multilingual team is ready to assist you with your real estate needs, regardless of your current location. 

Why should I buy in NYC?  

Individuals looking to invest in luxury properties should consider New York City as a strong option, as the “City so Nice They Named it Twice” will also never go out of style. Countless attractions are easy to get to via subway, such as Broadway shows, sporting events, and world-famous restaurants.  

While the pandemic may have negatively impacted the market, prices are now back to their baseline, which allows wealthy individuals to invest by purchasing a home in the city that could be used as a rental property for extra income or even as a vacation home! The real estate companies of New York know the value of the city, as it continues to increase in population, despite its relatively small size. 

One of the unique features of NYC is that it is a popular destination for vacationing at all times of the year. Summers are mild, and there are plenty of opportunities to travel on foot and visit beautiful parks and restaurants. New York is also popular in the winter, especially around the holiday season, as it is known for its vibrant decorations and traditions. As a result, a buyer looking to invest in a luxury property will likely have an excellent return on investment, regardless of how the property is utilized. 

There are two images, the one on the left shows an overhead view of New York with the magnificent Empire State Building on a sunny day, and the one on the right shows a wide avenue with trees.

Why should I hire a Broker in New York? 

Real estate companies in New York are basically a dime a dozen. While real estate agents can be extremely useful to those looking to purchase luxury homes, we recommend utilizing a brokerage company, as brokers tend to have more experience compared to real estate agents alone. While both brokers and real estate agents are licensed to assist with the buying and selling of property, brokers receive additional training to earn a broker license. 

More specifically, a broker can help you find the type of place you’re dreaming of in NYC. The buyer provides information on the type of space they are looking for and any stipulations regarding amenities, location, number of rooms, etc.  

Although New York is extremely popular, real estate can be challenging to navigate, especially with all of the different neighborhoods the city has to offer. As the value of properties in NYC increases, the number of places available for purchase decreases. Our agents at BARNES are familiar with the differences among the city boroughs and can help guide you to places that fall within your parameters of interest. This is the reason why the agency is one of the best real estate brokerages.

While some properties can be researched online, it can be both challenging and time-consuming to find what you’re looking for independently. The BARNES New York team has over 10 years of experience in the city and is ready to assist you with your real estate needs so that you can find the perfect purchase for you.  

Why choose BARNES over other real estate companies? 

BARNES is an international company dedicated to helping you find luxury properties all over the world. While other real estate companies are often limited to particular regions, BARNES manages luxury real estate in 15 different countries.  

Although BARNES has numerous agency locations, we are strongly based in France and pride ourselves on assisting customers with multilingual services. In addition to our Paris location, we have plenty of offices in other major cities, such as New York, Barcelona, Geneva, and London. As a result, individuals who are interested in purchasing or selling properties across the world can feel confident utilizing our services, regardless of their location at the time of the transaction. It is this internationalization that makes Barnes a very good brokerage.

BARNES offers a variety of services for our French clients as well as clients of other nationalities. This standard is upheld in our NYC office for any buyer looking to expand his or her real estate to The Big Apple. 

What kinds of services does BARNES have to offer?  

Clients looking to buy, sell, or rent properties can utilize the expertise of BARNES agents to help with a variety of needs. Whether you want to manage your property for renters, invest in a commercial property, or sell your vacation home to relocate to another country, we provide services to help you feel comfortable and confident with your decisions. 

In addition, BARNES is here to help you manage your property. We provide advice for charging rental fees that will make you the most money and are even able to advertise your property to help you acquire tenants as soon as possible. BARNES is also available to collect rent, begin eviction processes (as needed), and manage the property’s day-to-day maintenance and financial needs. 

Are there any other special services?  

Our services are unique compared to other real estate agencies in New York. For example, BARNES Yachting can assist clients with making informed decisions and plans for chartering a yacht. Clients looking to buy, sell, manage, or even create a yacht of their own would benefit from having BARNES on board. 

Another interesting perk of choosing BARNES is the ability to have your air travel needs, or even your aircraft, managed as well. BARNES Private Aviation department allows for truly luxurious travel, with options for flying within your own time constraints to the location of your choice. In addition, we offer our clients’ transportation to and from the aircraft before and after reaching the desired destination.  

Additionally, we offer support for individuals interested in purchasing a vineyard. While the wine industry can be complex, our agents will help you find the right vineyard for you and provide support for navigating vendors and brands within the field so that you can build your business effectively. Purchasing a vineyard is a large investment; our agents are here to help you feel confident in your decision-making. 

Many patrons who visit or live in New York City also have a passion for the arts. BARNES Art Advisory offers support for individuals looking to buy or sell works of art. We can even assist with the transport and installation of works of art. We are passionate about the art industry and even have a showcase in our New York office.

There are four pictures which represent the extra-activities proposed by BARNES : yatching, iXAir, Art Advisory...

What makes BARNES different from other NYC real estate companies in New York? 

BARNES has been working in the United States for over 10 years and is commissioned to offer specialized services for properties across NYC. Our team of experts is truly multilingual and consists of brokers and agents who can speak English, French, Spanish, Italian, Portuguese, Russian, Greek, Serbian, Croatian, and Mandarin.  

That means you can feel comfortable managing your New York City property from the comfort of your home in France (or anywhere else in the world) with no need to worry about language barriers. We combine the knowledge and skills of international agents and local agents to meet our clients’ needs. This is what contributes to the reputation of our agency as being one of the best real estate brokerages.

In addition, we are available to help you effectively manage your investment from abroad. Our agents can represent you from afar through our customized services so that you can manage your property without leaving home. 

For those looking to sell property in NYC, BARNES will help you find your buyer without any stress. Given our wide range of offices, BARNES has connections worldwide and the ability to showcase your property both domestically and internationally. Additionally, we provide rental management services for those looking to make a commission off of their luxury investment.  

Overall, BARNES New York is an excellent choice for individuals looking to invest. Whether you are trying to buy or sell a home, invest in a field you are passionate about, or explore the world, BARNES is here to assist and can be utilized for multiple real estate needs. Luxury property can still be affordable, and we are ready to help you find your dream home in NYC and abroad. 

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What is the housing price in Brooklyn?

For aspiring homebuyers, New York is an ideal place to invest in. Besides being known for its incredible sights and sounds, New York also offers an abundance of historical estates for those who want their homes to have character and charm. On the other hand, a previous look at ’Buying New Real Estate Development in New York’ has also shown how brand new buildings and modern apartments come with the advantages of convenience and upgraded amenities. In this article, we will learn more about housing prices in Brooklyn.

Regardless of which type of property you want, Brooklyn is a particularly popular option among the five boroughs in New York. Its residential areas are characterized by a blend of history and modernity, while still retaining the strong sense of community that’s otherwise lost in urban living. As such, here’s what you need to know and expect about housing prices in Brooklyn.

What is the current housing market like?

Since New York is a densely populated city, many find the housing market to be fairly daunting. However, as an article by Curbed on housing market expectations for 2023 notes, home prices in New York have fallen slightly to 6.3%*. Compared to the previous year’s record-high rates, interest rates are also forecasted by real estate expert Jonathan Miller to fall just below 6%*.

* Data from Curbed “What Should New York Homebuyers Expect in 2023?” by Adriane Quinlan.

Specific to Brooklyn, data from PropertyShark states that the median home sale price is $769K, indicating a 3.8% year-over-year decrease. Meanwhile, the median price per square foot saw a 7.4% year-over-year change at $890.*1

*1 Data from Property Shark “Brooklyn Real Estate Market Trends”

Which factors affect housing prices?

One of the main factors which affect housing prices is the age of the property. While older, more run-down apartments are generally cheaper, it’s a different story when the apartment that you’re eyeing is landmarked for historical preservation. Brand new apartments will of course be relatively more expensive, but the price increase may vary depending on the upgrades.

Another factor that can significantly influence the cost of an apartment is its location. Prices can be steep when properties are close to shopping centers and public transit, and Brooklyn is connected to Manhattan by several rapid-transit tubes. Appraisers also look at the neighborhood comp and nearby employment opportunities when determining housing values.

Which Brooklyn neighborhoods can I look into?

The right Brooklyn neighborhood for you may depend on your budget and the type of apartment you’re looking for. For example, DUMBO (Down Under the Manhattan Bridge Overpass) has several industrial and warehouse complexes that have been transformed into luxury residential lofts over the years. It’s a trendy neighborhood where business, art, and leisure meet, and where 1-bed, 1-bath condos start at $995,000.

For those in search of an area that’s rich and brimming with history, try looking into Brooklyn Heights. The New York Times has written about how this neighborhood is becoming increasingly coveted these days — not only due to celebrity sightings but also because of its picturesque streetscapes and historically rich architectural styles. If you go through our official property finder for Brooklyn Heights, you’ll find that 1-bed, 2-bath condos start at around $105,000. However, large houses along Fifth Avenue that boast over 15,000 square feet of living space can go up to $80,000,000.

While median prices in Brooklyn are slightly higher than median prices in New York as a whole, BARNES New York is here to help you find the best possible offer for the apartment that meets your budget, needs, and lifestyle ambitions.

You can choose to view the website first for our wide range of property listings before our agents who are equipped with real estate knowledge and negotiation skills reach out to you. We can also help clients locate properties with cost-efficient utilities in order to maximize their investment and save costs in the long run.

by Reese Jones

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In the Media – Interview of Yann Rousseau by French Morning

What is the real estate market like in New York and its surrounding areas in 2023?

Read this article on the current state of the New York real estate market by French Morning. In this article in French, Yann Rousseau, Managing Partner of BARNES New York, gives his insights on the state of the market as well as the most sought-after neighborhoods in the city and the financial stakes behind a purchase.

Read the article on French Morning:

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In the Media – Interview of Yann Rousseau in MySweetImmo

Want to know more about the New York real estate market ?

Read this article or listen to the podcast by MySweetImmo. In this article/podcast in French, Yann Rousseau, managing partner of BARNES New York, gives his insights on the state of the market as well as the most sought-after neighborhoods in the city and the financial stakes behind a purchase.

Read the article or listen to the podcast on MySweetImmo:

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In the Media – Hell’s Kitchen by LePetitJournal

Want to know more about the neighborhood of Hell’s Kitchen ?

Read this article by LePetitJournal, presenting the history of Hell’s Kitchen as well as its most famous residents. This vibrant neighborhood is full of trendy restaurants, coffee shops, stores and clubs which are all presented in this article. Finally, you will find a sum-up of the area’s real estate prices.

Read the article on LePetitJournal:

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