In today's fast-paced world of communication, there is so much information out there for you, the public, and even me, as an agent, to understand and make sense of. Well, that is my goal here in the Kogos Chronicles.
As an agent of 19 years and leader of a team at Elegran in New York City, my goal is to offer you, our readers, reliable information and stories about real estate that inspire you to better understand the complex real estate market in New York City.
DID YOU KNOW?
There’s so much more out there than just those high-end apartments. Did you know that a whopping 70% of resales are co-ops? And guess what? Each of these co-ops has its own requirements to buy in.
BUYER'S AGENT VALUE
That’s where a buyer’s agent becomes essential! Navigating the complex NYC real estate market can feel like a daunting task, but with the right guidance, it becomes a whole lot easier.
THE MARKET
Now, let’s talk numbers! According to the brilliant Jonathan Miller over at Miller Samuel, the median price of a home in NYC was around $1.65 million in Q1 of 2025. Crazy, right? And the average price? Well, that comes in at about $2 million. Cash remains king, coming in around 65% of purchases.
There is currently a huge transfer of wealth, and we are seeing parents come to the table to help their children purchase their first home. In the last 6 weeks, I have seen that about 60% of purchases are parent buying for or with their children.
So, whether you're dreaming of luxury or just trying to find a cozy co-op, understanding the whole market is key! Make sure to hit that like button and subscribe for more real estate insights.
