Manhattan markets are shifting. We are seeing much more activity and signed contracts. There are still a large number of price reductions. Many properties are seeing no activity at all.
Overall we are in a neutral market. Not a buyer's market. Not a seller's market. The charts below show:
-
- Leverage for buyers has weakened
- Sign contracts have increased
- Buyers are getting less discounts
While the attached is for Manhattan as whole, each micro-market trades differently. A 3 bedroom coop can not be compared to a 3 bedroom new luxury condo just a few blocks away. The West Village is not the same as the 5th Avenue, Park Avenue corridor on the Upper East Side. One must understand their location, ownership type (coop, condo or condop), bedroom and bathroom count, condition, views, monthlies, building etc.
If you would like real-time data on your specific needs in the Manhattan Real Estate market, don't hesitate to contact Kimberly Jay at Compass.
917-861-3617
