A Return to Normal for the NYC Market?

2021 was a record year in the Manhattan real estate market.  A return towards normal was inevitable.  That seems to be what we're experiencing now, but here's the thing.  Rather than compare the current market to last year’s, we should be looking at the last ten years.  While the market's current pace is slower and deal volume is lower than last May/June, both are still much higher than they were during the previous 10+ years.    

Sellers, you may have to adjust your expectations about how long you’ll be on the market, how many showings you’ll get, and your sale price.  

Buyers, right now is a good time for you.  Interest rates have lowered a bit.  The number of homes on the market, 6,500+ plus, is about where we were a year ago; but there are fewer buyers to compete with for them.

Whether buyer or seller, we’re here to help you navigate the process.  Please let us know how we can help.