Signs of Buyer Confidence

We're seeing signs of buyer confidence as Labor Day approaches.  Last week in Manhattan, 205 contracts were signed; a 9.6% increase over the previous week.  Brooklyn saw 147 contracts and a 9.7% increase, virtually identical to Manhattan's.  

Despite higher interest rates and economic uncertain, there haven't been a huge number of buyers backing out of contracts.  Total Manhattan pending sales, though slightly lower than they were a year ago, are higher than they were in 2019 (pre- the 2020 pandemic shutdown).  Brooklyn pending sales have been remarkably consistent over the past twelve months.

In short, buyers are out there looking for opportunities, and that creates opportunities for sellers.  If you're considering buying or selling, please contact us to discuss your options.