Real Estate News Bites
Survey the latest real estate headlines from around the country. Get a glimpse of Manhattan’s newest luxury tower, a look at median home prices, and more.
$7 Million starting price for new Manhattan residence tower.
The new luxury residential tower under construction at 432 Park Avenue in Manhattan will feature a private restaurant for residents, chauffeur service and a 75-foot long pool, among many other jaw-dropping amenities. At 1,396 feet, it will be New York City’s third-tallest building and the tallest residential tower in the Western hemisphere. It’s scheduled for completion in 2015.
Median home prices trending upward.
According to the latest quarterly report from the National Association of REALTORS®, the median price for existing single-family homes rose in 133 out of 150 metropolitan areas during the first quarter of 2012. The gain represents the best year-over-year performance in over seven years.
Survey shows improvement in realtor business.
A member survey conducted by the National Association of REALTORS® showed gains in both business volume and income among real estate agents. The median gross income among REALTORS® rose to $43,500 in 2012, up from $34,900 in 2011, the highest level since 2006. The median number of transactions handled by survey respondents rose to 12 in 2012 , up from 10 in 2011.
Homebuilding boom in Colorado.
Homebuilders in Colorado are reporting improved growth in 2013, the Colorado Springs Business Journal reported. New single-family home permits were up 40% in El Paso County, home to Colorado Springs, and they’ve reached their highest level since 2007. Restricted inventory and rising confidence are seen as key drivers in the trend.
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