November delivered great numbers to Manhattan - 846 contracts were signed and with supply down to 834, we are above seasonal averages for the first time since May 2022. Our market pulse is 1.75 (market pulse shows how current supply/available properties and demand/30-day deal activity compare to typical seasonal levels), dipping its toes into seller market territory.
For buyers wanting to capture a Christmas deal, the hope is that sellers will accept a lower offer during the slower period of December and January before their apartment - if still available - will get lost behind the wave of Spring 2025 listings that typically launch in February or March and last through June. Sellers, if you are not selling, pay close attention to the feedback your brokers give from buyers and other brokers and pivot, whether with improved marketing and/or price, and always remember the most important words, listen to the market. Call me anytime to discuss the NYC market or even to just say hi.
Wishing you a very happy holiday season!
Best,
Jane
