Erik Heitz Real Estate Salesperson

02/19/2026

Bring 'em on down! "Mortgage rates fell to their lowest averages since September 2022, with the 30-year fixed at 6.01% and the 15-year at 5.35%."

Key takeawaysMortgage rates fell to their lowest averages since September 2022, with the 30-year fixed at 6.01% and the 15-year at 5.35%.Lower rates

12/04/2025

We may not ever see COVID interest rates in the 2-3% again, but dropping rates is good for some of my buyers waiting in the wings. Get those deals sooner than later because prices may go up again as rates come down/ higher competition with more buyers in the field and ready.

Mortgage rates are back near 2025 lows — falling for the second week in a row.The 30-year, fixed-rate mortgage average dropped to 6.19% in the week

10/23/2025

NYC saw 1,721 homes enter contract in September, the most for the month since 2021, amid declining mortgage rates.

Homes entering contract spent nine fewer days on the market than a year ago and one in five homes sold above asking.

The median asking rent in NYC fell 1.4% month-over-month to $3,995 in September, broadly in line with historical seasonality.

08/02/2025

As we enter August, the residential market is experiencing seasonally expected softness. Inventory continues to decline across Manhattan and Brooklyn, and buyer urgency is easing further. Pending sales have now fallen for over a month in both boroughs, while fewer new listings suggest many sellers are holding back until post–Labor Day.

Elegran Real Estate

06/28/2025

As we head into the July 4th holiday, the New York City real estate market is settling into its typical early-summer slowdown. Manhattan inventory dropped for the fourth straight week, now down to 7,162 active listings—a 1.3% dip. Only 262 new homes hit the market last week, a 14% decline from the week prior. While this dip is seasonal and expected, it also means slightly less competition for sellers and fewer fresh choices for buyers.

Elegran Real Estate

06/26/2025

The FARE ACT-- what is it?! What does it mean?

https://www.rebny.com/articles/what-you-need-to-know-about-the-fare-act/?utm_source=sfmc&utm_medium=email&utm_campaign=FARE+Act+Form+and+FAQ&utm_term=Frequently+Asked+Questions+(FAQ)+sheet&utm_id=1822266&sfmc_id=628098648

05/31/2025

Manhattan Supply: Manhattan’s active inventory rose slightly again this week, up 0.3% to 7,409 listings—continuing a steady climb as we head into the summer market. New listings rebounded to 387, a 16% jump from last week.

The key stat? Fresh inventory this week was 12% higher than this time last year, offering buyers more options and signaling that sellers are responding to demand and bringing properties to the market late in the traditional spring listing season.

Elegran Real Estate

05/17/2025

Manhattan Consumer Sentiment: Manhattan saw 229 contracts signed this week — down 15% from last week, but still 5% above the same time last year. This weekly slowdown nudged the Elegran | Forbes Global Properties Manhattan Consumer Sentiment Index into negative territory, shifting from +13 to -7. It’s the first dip in sentiment after a multi-week positive streak, though underlying demand remains stronger than 2024.

Elegran Real Estate Forbes Global Properties

05/11/2025

As Memorial Day approaches, the NYC real estate market is shifting into the final phase of the spring season. In Manhattan, the number of homes for sale increased slightly to 7,260, but fewer new listings are hitting the market, down 24% from last week and 11% below this time last year. That means buyers may have already seen the biggest wave of fresh options for the season, and the pace of new listings is likely to slow heading into summer.

Brooklyn is following a similar path, though its spring season typically lasts a bit longer. Inventory rose modestly to 3,498 homes, and while fewer new listings came on the market this week, there are still more options than this time last year. Overall, Brooklyn remains a steady and competitive market, though choices may start to thin in the coming weeks.

Buyers are still active. Manhattan had a strong week, with 271 homes going into contract, up nearly 7% from last week and 17% more than the same week last year. Brooklyn saw a small dip in deals, but pending sales actually ticked up, showing that demand is still there even if the pace varies week to week.

Mortgage rates stayed mostly flat after a few midweek swings. Rates have decreased slightly over the past few weeks, though they’re still higher than in March. Even so, buyers are clearly showing up, keeping the market moving steadily as we head into summer.

05/05/2025

New York City’s real estate market is hitting its stride this spring, powered by a rare but welcome combination: rising supply, strong demand, and growing consumer confidence. The defining theme of 2025? Stability—measured, sustained, and quietly strategic.

In Manhattan, 255 contracts were signed this week—a 24% increase from last week and 26% above the same time last year. Inventory also climbed 2.4% to 7,193 active listings, with new listings up 7% week-over-week and 6% year-over-year. This steady influx of supply reflects growing seller confidence and is helping normalize market activity without tipping the scales toward buyers.