Manhattan's real estate market is shifting, with just 6,330 listings. That's the lowest number in several years.
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More buyers are out looking at homes, and as we predicted it's finally showing up in the data.
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Mortgage rates fell sharply after government reports that inflation cooled last month. Yesterday we saw jumbo 30-year fixed rates (loans over $647K, most loans in NYC) of 5.5%.
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Supply is rising and pending sales are falling. Does that mean the market is flooded with desperate sellers and prices are plummeting? Nope.
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Last week a colleague was involved in a five-way bidding war for a $2.5M Park Slope co-op. He was very surprised since this is one of the slowest times of the year. Here’s what he did, and our three takeaways.
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