MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 3/11/2024 – 3/18/2024
Let’s see what the market’s doing this week in the Riverdale area of the Bronx.
Did You Know?
* A recent Knight Frank World Wealth Report made headlines…..it showcased how much you can get in a home for $1 million…..it said you get about 365sf in New York. I found over 150 listings in Manhattan sized between 700-1,000sf for $1m and less…..Another good reason why hiring a professional agent is the only way to get real boots-on the-ground information that is verified in real time….. the same report said you only get 645sf for a Miami apartment: I found many at $1 million ranging in size from over 600sf to 2,000sf! Naturally the report spoke about the ‘average’ buyer…..is there such a thing?
* Exactly a year ago Silicon Valley Bank collapsed and many predicted the end of the world. That prediction didn’t materialize either. (Bloomberg)
Mortgage Rate Updates
30 Year Mortgage Rate in the United States decreased to 6.88 percent on March 6 from 6.94 percent in the previous week. 30 Year Mortgage Rate in the United States averaged 7.73 percent from 1971 until 2024, reaching an all time high of 18.63 percent in October of 1981 and a record low of 2.65 percent in January of 2021.
Source: Freddie Mac
