We are approaching the peak of our Fall season and the combination of signed contracts and reduced inventory is tightening our market. Citywide, new listings are launching at a slower pace (-2.14% vs. last week), but signed contracts are up substantially (+ 18.48% vs. last week) and closings are up (+2.16% vs last week). Neither in a seller’s nor buyer’s market, we are in a neutral zone, with neither having the upper hand. The Mortgage Bankers Association Mortgage predicts that rates will drop back into the 5% range by the third quarter of 2025. The Manhattan market feels quite busy and optimistic and despite positive or negative feelings about the election results, New York is New York is New York, and we all want a piece of this city.