After a rough 2023, the Manhattan real estate market saw some real recovery in Jan., Feb., and Mar. Then April arrived, and things started to slow down again.
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We're pleased to present Compass' Q1 2024 Manhattan Market Report, a look at sales activity from the first three months of the year.
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As we begin 2024, New York City real estate has been in a "buyers' market" for the past 18 months. Homes are selling at a slower pace and lower prices compared to the exuberance of the initial post-lockdown period a couple of years ago.
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The Manhattan real estate market is still in that seasonal slowdown, though it's looking like a little slower than normal.
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Manhattan's real estate market is shifting, with just 6,330 listings. That's the lowest number in several years.
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The Manhattan market has slowed. It's not due to a lack of supply. Where we are below trend is demand.
Read MoreIt's puzzling. Signed contracts and pending sales continue to increase. But, get a few brokers together and we'll all talk about the noticeable overall slowdown in open house attendance and showing requests. What gives?
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