Manhattan’s real estate market ended 2024 on a high note according to John Walkup of UrbanDigs (in Forbes):
"After two and a half years of sluggish activity on the back of higher mortgage rates, deal activity resurrected as buyers returned on the heels of lower rates. In 2025, mortgage rates resumed their upward trajectory and supply plummeted, creating a tightrope walk for buyers and sellers.
During the winter months, the number of homes for sale typically drops. The cycle restarts in late February, with supply building through the spring until it dips again into summer. However, the active inventory of Manhattan homes dropped 17% from December 2024 to January 2025—the largest drop in over ten years.
Tight inventory often coincides with macroeconomic uncertainty or market cycles that make sellers hesitant to list. Manhattan’s past supply levels suggest these moments are often inflection points, either launching the market into a price frenzy (2016) or holding it in a cautious standstill (2023). While low supply might suggest existing sellers have the market to themselves, it’s not that simple. High interest rates and cautious, price-sensitive buyers mean overpriced properties continue to linger. For buyers, the math isn’t easy either. With higher mortgage rates, competition for well-priced, turnkey properties is fierce. As a result, both sides feel the squeeze."
As always, call me to discuss how we can make the NYC market work best for your real estate goals.
