Newsletter

The Manhattan real estate market this summer is steady and balanced. While summer often brings a bit of a lull as many New Yorkers head out of town.

As we head into the summer months, the Manhattan residential real estate market is showing signs of seasonal slowing.

Manhattan supply is increasing, which is normal for this time of year, and if there’s one constant, it is supply, which is in line with that of 2022, 2023 and 2024. 

The spring market is here! 31 contracts were signed last week in Manhattan at $4+ million – 25 condos (12 of which were in New Dev) and 4 co-ops.

Every residential real estate transaction, whether on the buy-side or the sell-side, involves different components unfolding at different rates.

Tight inventory often coincides with macroeconomic uncertainty or market cycles that make sellers hesitant to list.

For buyers wanting to capture a Christmas deal, the hope is that sellers will accept a lower offer during the slower period of December and January before their apartment - if still available - will get lost behind the wave of Spring 2025 listings that typically launch in February or March and last through June. 

We are approaching the peak of our Fall season and the combination of signed contracts and reduced inventory is tightening our market.

As summer fades into fall, subtle shifts in demand seen over the summer suggest that Manhattan might be heading for a busier fall season than previously expected.

Why won’t your real estate property sell? It could be a few things. Most likely, much as sellers might like to believe the contrary, the problem is often NOT the agent. 

As we head into the summer months, the Manhattan residential real estate market is showing signs of seasonal slowing.

What’s going in the market now that we are in officially in Spring? Supply has begun its ascent and even though the pace is a little shy of last year, it’s still very early. 

February is considered the transition month as we begin our approach to the Spring Market, traditionally our busiest season and includes the months March, April, May and June.

After two and a half years of sluggish activity on the back of higher mortgagerates, deal activity resurrected as buyers returned on the heels of lower rates.