In the Manhattan Real Estate Market, September Was Slow - As Usual

In Manhattan, September is traditionally the month when the fewest number of home sales contracts are signed. This year is no exception. Last week, we saw 126 signed contracts, down 16% from the previous week.

The number of listings on the market has been on the rise, with 6,911 homes available. That's a 16% increase year-to-date and an 11% increase from last month. That means more competition for sellers, and more options for buyers.

Pending sales (in-contract listings), at 2,726, are also going up. There's been a 56% increase year-to-date and a 5% increase since last month. We're definitely showing our listings more, and have contributed to that signed contract total.

As for prices, the median sales price is holding steady at around $1,177,000, similar to where it was in 2018.

The market seems to be in its normal, seasonal groove after a few years that broke the mold (an understatement if there ever was one). We're looking forward to a busy October.