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...
Market in Limbo!
As we begin the active season, the cumulative number of listings hitting the Manhattan residential real estate market appears to be back in-line with previous years. Please do not misinterpret this as “recovery.” It is not. With demand way down from where we were this...
Will more listings shift leverage?
January ending means we are officially at the beginning of the spring real estate market. We are very ready! Hope you are too. In our last newsletter, we put out a “buy” signal for people that are serious and ready to go. Sellers can get a deal done if they are...
Outlook for 2023
Happy New Year! We are rested and ready to go! As we consider 2023, we would love to tell you that 2022 is behind us. Is it though? We’re not sure yet is the answer because much of what caused the volatility and price pressure in the second half of 2022 is still...
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