Bronx Multi family home sales are in high demand in the Castle Hill, Rosedale, Soundview areas.

Bronx Multi family homes have demonstrated strong performance in the first quarter of 2018.  In 10472, there were 50 multi-family homes sold.  In 10473, there were 55 multi-family homes sold.  Consequently, those totals crush last year’s first quarter totals for the same.  This is due to low interest rates and rising rents, some of the biggest contributors to this high market demand.

Most noteworthy is how quickly Bronx multi family homes in this area go into contract. MLS figures state that 10472 Bronx multi family homes take a median of 27 days to get a contract sale.  Especially relevant is that the median price of these homes (most of which are 2 family homes) have surpassed $725,000.  As a result, his indicates a steep upward trend in this market.

Many of these homes have been attractive to the new generation of buyers.  A generation of Hispanic baby boomers are relocating south.  From this cultural shift, we’re seeing more buyers of Indian, Pakistani, Bangladesh and Middle Eastern descent that are buying in 10472 and 10473.  Because of this, there has been an increase in construction permits for new places of worship and business representative of this most recent cultural shift.

Finally, when marketing a home to sell in this market, make sure that you’re targeting the right buyers.  That not only includes the one’s who are qualified to buy.  Think about examining the demographics on each block of each neighborhood and take note of the meta community within the community.  In addition, examine sales records and identify the former addresses of the buyers that are purchasing to reveal from where those buyers are coming.  And furthermore, lifestyle is important.  Target those who are ready to undertake what your property offers.  For more information, visit: www.CFLuxe.com/PropertyMarketing.