What makes real estate sell quickly in NYC?
The techniques and descriptions home sellers should use to get quicker sales in four boroughs.
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To help reduce the time that a home is listed for sale, two new reports have assembled data on when to list and even what to say in order to get it sold quicker.
Real estate site StreetEasy released on Thursday two comprehensive analyses to help New York City home sellers be more efficient in their listings. The first report examined when homes in each borough averaged a short time on the market but still resulted in a high bid.
Sellers in Manhattan and Queens are just entering into the optimal time of year to list properties, according to StreetEasy, with those boroughs seeing short market times leading to the highest bids in April and May, respectively. The best month to sell in the Bronx is February while Brooklyn homes move quickest in March.
What to say in a listing was also considered in a related StreetEasy analysis that found certain terms appeared more frequently in listings for sought-after homes.
By comparing the words that appeared in the descriptions of the fastest versus slowest selling homes, StreetEasy found which verbiage was favored in Mannhattan, Brooklyn, Queens and the Bronx.
Manhattan buyers were looking for investment-related topics such as “sublet policy” and “parent buying” and for high-end brands like Ann Sacks and Bianco Dolomiti. Brooklynites seemed most concerned about food, with “farmers market,” “grocery store” and “breakfast bar” each among the most popular terms.
In Queens, family life was on buyers’ minds as “2-bedroom,” “master bedroom,” “closet space” and “dining room” helped homes sell quicker, and Bronx residents favored commuter-centric language like “private driveway” and “Midtown Manhattan.”
Some things never go out of style, as “Trader Joe’s” and “stainless steel,” both popular in 2015, remained popular listing descriptions in 2016 as well, according to StreetEasy.