ask hall f. willkie
The real estate expert shares his wisdom on . . . Confidence in New York City
T
he New York City residential real estate market is good for well-priced properties. Sales activity is highest where sellers are realistic and responsive to the pressures of the marketplace. Yet, economic uncertainty continues and buyers are very price sensitive. Understandably, they seek justification for the price they are asked to pay. It is a matter of confidence. While the residential real estate market follows the general trend of the economy, I believe New York City residential real estate will continue to appreciate in the long term. The fundamentals of our market—inventory, supply and demand, and very importantly, equity—are solid. As a New Yorker I feel confident that good, solid, healthy growth will be a part of our future. F
Hall F. Willkie, President, Brown Harris Stevens Residential Sales; hwillkie@bhsusa.com
106 | AVENUE MAGAZINE · OCTOBER 2011