The NYC Real Estate Market Starts 2022 Strong

It's no surprise - the New York City real estate market is off to a solid start for 2022. As you'll see in the chart below, current Manhattan pending sales (the number of listings in contract) are well above ten year norms.

We're still dealing with a lack of enough homes for sale to meet demand. As for pricing, the average price per square foot for December ($1,384) was the highest monthly number of the last couple of years. The lowest was October 2020 at $1,220.

For some perspective on how that stacks up, the lowest average price per square foot in the last ten years was $996 in January 2012.

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