NEW YORK’S REAL ESTATE EXPERT

Market updates. New Developments. Related News. Guidebooks. And more.

Hello Manhattan, I’m Disney, and this is today’s Manhattan Market update.

Supply has gone down 3% and is showing to be the hero of the market by providing a floor to the numbers for sellers to compare their value to.

Sales has ticked slightly higher although the pace of declined pending sales is not as aggressive as it was when the beginning of the downshift began.

Market pulse is showing a hovering activity rather than a continued falling slope that we have been seeing. It seems the Manhattan market is finding its way.

New listings is at the lowest it’s been since the beginning of the year in January. It’s anticipated to stay down until the new year spring season kicks in.

New Contracts signed is down and looking similar to 2019 levels. The actual contract volume is now in the 7th month of the down trend but at the same time increasing overall. While deal volume is down and it is a slow market, the data is still mixed enough to not declare an aggressive downturn.

The market in Manhattan is just not quite able to be assessed as an overall picture. Depending on the neighborhood, the price point, and the exact timing there is different data. Urban Digs describes it perfectly as a “market of complexity”.

If you’re looking for support, understanding, and conversation around your Manhattan buying, selling, or renting decisions right now, I would love to chat about it with you.

For more real time New York real estate data and updates check out urbandigs.com or send me a message and I am happy to engage all of your Manhattan Market questions. Sending you successful energy for this week and until next time…

I’ll see you around the city!

Sourced by