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Harlem Brownstone Q1 2024 Market Report

Harlem brownstone market report Q1 2024 with insights on pricing, sales activity and trends shaping the NYC townhouse market.

By Stanley Montfort · Real Estate Advisor®
Harlem Brownstone Q1 2024 Market Report
The article

The Harlem brownstone market has seen an increase in the last quarter. In Q1 2024, sales volume increased 34.71% from Q1 2023 and a 5.71% decrease from 2019 (pre-pandemic). Average prices in Q1 2024 rose 14.76%, with price per square foot rising 25.09%. Transactions increased 17.39% from Q1 2023 and stayed the same from pre-pandemic numbers; although there is demand for new inventory, sellers must take into account increased interest rates as buyers’ carrying costs have gone up substantially. Moving forward, it appears that buyers might have another two, three quarters to secure properties at lower costs before anticipated rate decreases later this year where the Harlem townhouse market may shift to a more neutral market.

If you’re interested in selling or buying a brownstone in Harlem, simply click the button below to schedule a call or email me at sm@montfortre.com.

About the Author
Stanley Montfort
Stanley Montfort, Real Estate Advisor®

Since the start of the pandemic, Stanley Montfort has played a crucial role in facilitating over one billion dollars worth of brownstone sales in New York City. He is a recognized expert in the city's brownstone and townhouse market, with extensive experience in both sell-side and buy-side transactions, thanks to his military and law background.

Stanley honed his real estate skills in the Harlem townhouse market and assisted in numerous co-ownership transactions, including more complicated deals involving SROs, seller financing, and negotiating with tenants, always leaving all parties satisfied.

With a vibrant, diversified career spanning the legal, banking, and technology industries, Stanley brings a wealth of experience to help clients achieve their real estate objectives. He applies innovative marketing, strategic thinking, and utmost professionalism and integrity to every deal. A savvy negotiator with strong analytical skills, he has navigated even the most challenging deals to deliver the desired results.

Moreover, Stanley provides a personalized, engaging experience marked by complete transparency, data-driven financial decisions, and honest conversations. He earns his clients' trust and is committed to ensuring their needs are fully understood and resolved without compromise.

Originally from New Jersey, Stanley is a graduate of Fordham University, where he earned his JD and a Master's in International Political Economy and Development. Stanley is the no-brainer choice to help you achieve your real estate goals.

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