01/15/2013
Much like the rest of 2012, December produced improved buyer demand, steadily rising home prices (the median now at $850,000, up by 39.3 percent) and pockets of robust activity throughout the city. With such a strong buyer demand, the current inventory was gobbled up quickly, with the average days on market at 41. As sharply rising rents and low interest rates continue to drive the market, it makes financial sense for buyers to purchase now rather than rent, to lock in at these low 30-year rates and wait for appreciation.
View Complete Market Update