As we head toward the close of the spring market, Manhattan real estate continues to show impressive resilience and momentum. Activity remains particularly strong in the luxury sector, where all-cash buyers are highly active and well-priced properties are attracting significant attention. Contract activity above $4 million remains robust, while the $2 million to $5 million market is benefiting from mortgage rates that have eased from last year's highs. Inventory has increased, giving buyers more choices, but the best apartments, those priced and presented correctly, are still moving quickly and, in some cases, attracting multiple offers.
The recent passage of New York City's pied-à-terre tax has become a topic of conversation among luxury buyers, but it has not meaningfully slowed activity to date. Manhattan continues to attract both domestic and international purchasers, while the rental market remains exceptionally tight, with limited availability and elevated rents encouraging some renters to explore homeownership. As we move into summer, the market feels healthy, active, and increasingly selective. Buyers are informed and value-conscious, yet prepared to act decisively when the right opportunity arises. For sellers, this remains a market that rewards thoughtful pricing, strong presentation, and strategic positioning.
If you're considering selling, I'd welcome the opportunity to discuss how I would price, present, and position your home for maximum impact in today's market. And if you're thinking about buying, I'll help you navigate the process with strategy and strong advocacy every step of the way. Whether you have an immediate real estate need or are simply looking for perspective on the market, I'm always happy to be a resource.
