Manhattan Weekly Market Snapshot – Week of August 11th This week’s numbers reveal a Manhattan market that is both selective and active. Co-ops saw steady traction, with the Upper East Side recording 23 contracts at a median of $949K. Midtown remains competitive with 28 contracts signed at a median of $707K, showing that well-priced opportunities still attract attention. Condos continue Continue Reading
Even though home prices have moderated over the last year, many homeowners still have an incredible amount of equity. But what is equity? In the simplest terms, equity is the difference between the market value of your home and the amount you owe on your mortgage. The National Association of Realtors (NAR) explains how your equity grows over time: “Housing wealth (home equity or net worth) gains Continue Reading
If you’re considering selling your home, you should know the number of homes for sale right now is low. That’s because, this season, fewer sellers are listing their houses for sale than the norm. Looking back at every April since 2017, the only year fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market (shown in red in the graph Continue Reading
Manhattan Market Report for the week ending April 21, 2023, Supply closed out at 7,092. Pending Sales at 2,898 and off-market listings (delisting) maintain the market pulse at a .41% level. Mortgage Rates Mortgage rates increased for the first time in over a month due to shifting market expectations. Home prices have stabilized somewhat, but with supply tight and rates Continue Reading
If you’re considering buying a home, you want to know if the decision will be a sound one. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment. This year, we aren’t seeing home prices fall dramatically. However, as the year goes on, some markets may increase in value, and others may lose their Continue Reading
Manhattan Market Report for the week ending February 24th, Supply closed out at 6,173 and trending up 2%. Pending Sales at 2,240 and off-market listings (delisting) maintain the market pulse at a .36% level. Demand is ticking higher. Two consecutive upticks in "demand," and hopefully, it will remain for the spring season. This was a short holiday week. We are on trend Continue Reading
Manhattan Market Report for the week ending October 28th is anemic as we move into the new month. Supply and Pending Sales are both down slightly. Supply closed out at 7,765 and Pending Sales 2,678, maintaining the market pulse in buyer leverage territory at.35% As we began the month of November, Stocks tumbled as trading commenced. Traders also assessed better-than-expected Continue Reading
. Season Change, Mood Change: One Size Does Not Fit All in New York City Real Estate Market The NYC real estate market is witnessing climbing interest rates, falling stock prices, and contested elections with upcoming new elections. Recession talk abounds as the summer of 2022 moves into fall. While the job market remains strong, New York City's prevailing mood is disquiet. The real Continue Reading
New York City is aglow. Opportunities for new and engaging activities to keep you busy during the cold winter are plentiful. In fact, this month's Culturally Inclined is all about the Upper East Side long known as the Silk Stocking District synonymous with extravagant wealth. The upper east side flanks two marvels: Central Park and East River Park and remains the mecca Continue Reading
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