1st Half Results and 2nd Half Forecast for 2023
Here we go folks. Half the year is behind us. Let’s get ready for the rest of 2023. Where to begin? With a slow start to the year, buying did pick up in the 2nd quarter but overall, the market remains sluggish compared to 2022. In Manhattan, the total number of...
Be Prepared! What to Do in an Emergency.
Summertime. Anytime. Nothing better than being beach-bound with nothing on your mind but fun and relaxation. Then the unexpected shows up. You never know what might happen – a blackout, an earthquake, a flood! Where ever you are in the world, things happen. It’s ok!...
WE HAVE AN IDEA!
Let’s enjoy summer! We deserve it! The real estate market has officially turned boring as we enter the dog days of summer! With the most recent mind-blowing smoke from Canadian wildfires blanketing the New York City skyline, we all need to catch our breath and chill...
Monster Month of May
After a weak April, the month of May came in like a lamb and went out like a lion! Last week for example, the number of contracts signed was up 29% from the prior week. To put this number in perspective, we like to see around 250 deals signed per week to judge...
Into Summer We Go!
Memorial Day Weekend is two weeks away. Crazy. The New York City real estate market continues to be a head-scratcher. Where are we going? We think we could be in for an unusually busy summer. Here’s why: March deal flow in sales was on fire. April deal flow in sales...
Conundrum!
Rents are high. Mortgage rates are high. Housing participants in New York City are stuck between paying up for leases and having less affordability on purchasing. This is a peculiar time. On a positive note, (and we do look for the positives!) both Manhattan...
1st Quarter Market Overview
The Manhattan real estate market settled into its new normal during the first quarter, with slower activity transitioning to a seasonally active marketplace as the busy spring season started. This quarter's headline is the 8.3% year-over-year decline in the median...
The Trend Is Your Friend!
With all the macro events going on around us, the New York City real estate market appears to be on an uptrend in both overall Manhattan supply and demand. We will take it! Surprisingly so, the market is doing what we would expect it to be doing during this time in...
What a Difference A Weekend Makes!
It is hard to believe we are nearing the end of the 1st Quarter. In addition to the interest rate environment, inflation, FED decisions, inventory – we added to the pile this past weekend with the failure of SVB and Signature Bank. In a word – STOP! How much more can...
A New Phenomenon
We have waited long enough! It’s true – the New York City real estate market is showing signs of awakening! With the spring market at the starting gate – things are beginning to percolate. Buyers – we’ve been telling you for weeks that the negotiating advantage is...
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