Why Do You Need an Expert Agent to Price Your Home Accurately? Overpricing is often seen as the main reason why certain homes last longer on the market compared to others. …

Week of 12/20/2021 This week in both Manhattan and Brooklyn overall supply continued to decrease, while pending sales rose, driving the Market Pulse higher again. Manhattan’s market pulse is 0.81, the highest in three months, and Brooklyn’s is 1.20, setting a new high water mark. Both new supply and contract activity in Manhattan…

Week of 12/13/21 This week, total supply in Manhattan and Brooklyn continued to decrease and pending sales rose in both boroughs. The Market Pulse increased, as inventory is declining while demand is increasing. Manhattan’s market pulse is 0.77 and Brooklyn’s is 1.15, indicating strong buyer activity and increasing leverage for…

Manhattan Market Update

Week of 1/30/23 For the past two non-holiday weeks, we’ve reported that demand for NYC has been significantly below its pre-pandemic* benchmark. Well, this week, the numbers are even worse. It’s time to make a call. Was NYC dangerously overbought post-COVID and now heading into a drought, or, is there…

Week of 1/23/23 Last week, we reported “news” of the worst performing week for NYC residential real estate demand since that ending December 27th, 2020. But news it was not, or so we opined, being nothing more than a carryover of the seasonal holiday slump. However, this week, the results…

Week of 1/16/23 For weeks, we’ve been vocalizing our amazement that, after 18-months of being overbought, demand for NYC hasn’t dropped well into underbought territory. Instead, it’s been bouncing along the pre-pandemic* average. However — drum roll, please — we finally have something new to report. This week, demand, as…

Week of 1/8/23 We’ve said it week after week after week, but the repetitive nature of our posts make the observation no less potent. Demand for NYC residential real estate is incredible. Throw-economics-out-the-window kind of incredible. Why? Because it’s average. Almost overnight, COVID fears slammed the brakes on purchasing for…

Overall Brooklyn Market Update: January 2023