10/16/2023
Looking to buy or sell here in NYC?Important information ๐
Prices in the Manhattan co-op and condo market are beginning to stabilize as listing inventory continues to fall ๐
Sales declined annually, likely the last quarter of distortion caused by the spike in mortgage rates over the past year
Listing inventory declined annually for the second consecutive quarter
The market share of bidding wars slipped to its second lowest level in ten quarters, and the market share of new development
sales reached its highest level in over a year, well above the average for the decade
The market share of cash buyers slipped to the third highest on record from the prior-quarter high
Condo's new development listing inventory declined year over year at a higher rate than resales
New development average sales size fell annually for the fourth consecutive quarter
The luxury median sales price rose year over year for the second straight quarter as luxury listing inventory declined year over year for the second time
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Happy to share what Iโm seeing in todayโs market to help you achieve an optimal deal โญ๏ธ