Are Manhattan Real Estate Prices Rising?

Manhattan sales "at or above" the asking price have been steadily increasing, comprising 26% of sales in Q4 2021.  That's a 3% increase from 23% the quarter before.  Does this mean sellers can shoot for the moon when it comes to pricing their homes?

Not necessarily.  This isn't like 2014-2015, the most recent height of the market.  Current pricing is around 2019 pre-pandemic levels.  

However, since there still aren't enough new listings coming on the market to meet demand, it could be worth it for sellers to push a little.

So would should you do if you're a seller or a buyer?  That depends on your motivation and goals.  Let's  discuss the strategy that's best for you.  Shoot us an email to arrange a call at billandralph@compass.com.