How's The Manhattan Real Estate Market as We Enter 2025?

Happy New Year! As we enter 2025, here's a brief overview of how the New York City real estate market fared in 2024. After a very slow 2022 and 2023, activity picked up in 2024 as the year progressed. The third quarter was strong enough that it surpassed historic averages for the number of signed contracts. It's not a frenzy, but a solid increase.

As for today, I'm feeling more energy in the market. Most NYC agents will tell you they're expecting a busier 2025. The uncertainty caused by the election has been settled. Buyers seem to have accepted that mortgage rates will stay in the 6-7% range for the foreseeable future. More importantly, there's only so long you can (or want to) put your plans on hold. Whatever happens, you can count on my keeping you informed.