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Greetings!
This year is off to a great start for Designed to Appeal and its clients. So far, three of the listings staged by the Designed to Appeal team have sold quickly, and at or above the asking price, making for very happy real estate agents and homeowners.
And according to the latest monthly real estate report (see below), it looks like the limited supply and strong demand for apartments in Manhattan are heating things up. Of course staging can only help even more!
Warm regards,
Donna M. Dazzo, President
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Testimonial of the Month
" The apartment looks amazing! You and your team exceeded my expectations."
Cynthia Brunjes, Homeowner
New York, NY
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2013 Off to a Great Start with 3 Staged and Sold Homes! The Designed To Appeal Team is already hard at work, reporting three successful stagings that have resulting in great offers and swift sales! Due to sworn confidentiality, we will report the details, and show before and after photos, in next month's newsletter after the transactions close.
Noho Loft
This one bedroom loft sat on the market, empty and unsold, for four months. It was then staged and sold in one! Look next month for before and after photos and closing price details.
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Upper West Side 2 Bedroom Apartment
After 4 1/2 months on the market, this vacant apartment sold only ONE week after staging. The owners happily accepted an all cash, full asking price offer! Check back next month for photos and details.
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Upper West Side 3 Bedroom Apartment
This apartment had previously been listed for 6 months and had not sold. After new real estate agents, a new price closer to market value, and our staging, it received multiple offers after the first Open House. It will close at over the asking price.
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Market Overview: New York, NY
According to Corcoran's January 2013 Report: "Marketwide inventory increased slightly in January due to the typical seasonal increase in new listings at the start of the new year. Nevertheless, inventory remains 23% lower than this time last year while contract activity increased by 44% compared to last January. This strong demand and limited supply has pushed pricing up compared to last year." Market Wide: Total Listings:6,276 units New Listings:1,479 units Condos: - The median sale price of $1,507,500 in January 2013 represents a 15% decrease from from December 2012.
- The average price per square foot of $1,330 is a 16% decrease from December 2012.
- The number of days on market for January 2013 is a 15% decrease from December 2012 to 133 days.
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January's 2013 discount from last asking price to to sale price went to 2.9%, an increase from last December's 1.4%.
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The listed inventory for January 2013 was 2,558, a zero percent increase from last month.
- Number of contracts signed decreased 10% for the current month to 374.
Co-ops:
- The median sale price of $625,500 in January 2013 represents a 15% decrease from December 2012
- The average price per square foot of $1,330 in January 2013 represents a 16% decrease from December 2012.
- The number of days on market decreased 3% from December 2012 to 140 days.
- January's 2013 discount from last asking price to to sale price went to 3.7%, a decrease from last December's 4.1%.
- The listed inventory for January 2013 was 3,118, a 6 percent increase from last month.
- The number of contracts signed was 499 for January 2013, a 6% increase from December 2012.
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Tips and Tricks of the Trade:
Creative Fixes
This bedroom wasn't originally intended to be a bedroom, but to sell this apartment, Designed To Appeal needed to present it to buyers in a way that they could imagine themselves relaxing after a long day in Manhattan. We used four sheer curtain panels behind the bed to soften the wood in the room and to help the beautiful headboard stand out. We added fresh bedding and drapes and now this room is a homey master bedroom on the Upper West Side.
As with most homeowners, this one was on a budget and didn't want to spend money on a headboard. So we found this fireplace screen for only $60 and used that instead, added a coat of paint, new bedding, removed heavy furniture and gave this room a light and fresh look.
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Did You Know...
...What 5 Oscar Nominees/Winners Made 2012 Real Estate Headlines?
Curbed shares some star-studded real estate headlines from 2012:
Ann Hathaway, winner of the 2013 Oscar for best supporting actress for her role in Les Miserables, and her husband, rented an apartment in the well known Clocktower Building in Dumbo in Brooklyn for $6,000 a month last year.
Bi-coastal couple Naomi Watts, who was nominated for best actress this year for The Impossible, and hubby Live Schreiber, purchased a $3.95M loft in Tribeca last year. However, not long after the Tribeca purchase was made, the couple reported enrolling their son in school in L.A.
A "lion of the silver screen" and a pioneer of Manhattan's once-decrepit, now-glamorous Tribeca neighborhood, Robert De Niro doesn't have much to prove to anyone at this point. He has already won two Oscars and was nominated for another this year for his work in Silver Linings Playbook. He sold his West Village townhouse last year for $9.5M.
Read more about these and other Oscar nominees and winners here.
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Market Overview: The East End
The following is a comparison of January 2013, annualized, vs. all of 2012, by town, according to Suffolk Research Services:
East Hampton Town:
- The median sales price decreased 12.5% to $835,000
- The number of sales increased 72% to 1,032
- The dollar volume of sales increased 34% to $1.5 billion
Southampton Town:
- The median sales price increased nearly 25% to $999,000
- The number of sales increased by 45% to 1,620
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The dollar volume of sales increased 107% to $3.9 billion
Southold Town:
- The median sales price increased nearly 20% to $520,000
- The number of sales increased 30% to 444
- The dollar volume of sales increased 42% to $285 million
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For More Info
During the Month...
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FREE Closet
Organization,
Open House, and
Moving Checklists
Download your
FREE Closet
Organization,
Open House, and
Moving Checklists.
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Try our new
Home Staging Savings Calculator developed by the Real Estate Staging Association (RESA)
Click on the calculator above, which will launch in a new window.
For more detailed instructions, click here.
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