January 2017

 

Living LIC is pleased to present the monthly market snapshot for January 2017.  The number of sales closed in January was significantly lower than the year before (approximately 40% lower than the prior year).

Although the number of units closed in January reflect a slower market, there has been an increase in buyer activity over the last month in Long Island City.  With the possibility of three mortgage interest rate hikes over 2017 buyers are more motivated to lock in a lower rate. 

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Lauren Bennett