For those interested in real estate in NYC, Localize’s newly released Trends Report offers insight into current search trends on the Localize site. This report offers not only a detailed look at the marketplace today, but provides inspiration on areas NYC buyers might want to consider in 2021 based on search preferences that might interest them.
The following insights are some of the trends gleaned from the data. To see the full report, visit:
Localize’s data revealed most buyers showed a strong interest in homes that provided access to outdoor space, as well as listings that offered sustained sunlight. As the pandemic changed the activities NYers could participate in, the desire for homes that offer the ability to enjoy outdoor space became more popular. This is a trend that will persist into 2021, making homes with private outdoor space increasingly popular.
Localize found that buyers were most interested in the following search parameters:
Localize’s data uncovered specific neighborhoods buyers who are interested in private outdoor spaces can consider, including:
Additionally, for those interested in parks specifically, the following boroughs offer the best chance of finding a home nearby a public outdoor space:
When it comes to neighborhoods, Dumbo, Greenwich Village and the Flatiron District were the best neighborhoods to meet the homebuying checklist item of nearby parks.
For anyone doubting New York City’s resilience, the Localize review of 2020 proved the opposite: NYC is here to stay. In fact, it never really left. While there were downward trends in Manhattan due to the pandemic, the overall trends in all other boroughs showed that median prices held steady and even rose in most.
For buyers and investors looking to have a piece of the NYC market in 2021, there is a still lot of opportunity. There may also be continued preference adjustments as people consider new areas of the city that fit best with lifestyle changes that have occurred over the past year. Localize can help buyer’s navigate this marketplace to pinpoint the best boroughs, neighborhoods and listings that best meet their needs.
To access the full recap, learn more about how Localize uses data to make homebuying suggestions, and see all of Localize’s 2021 recommendations, download the Report.