I breathed a long breath of relief, after the September data were digested. Last month, this update was written with a cautious tone, as the New York real estate market prices had dipped for 3 straight months. After the market finally awoke from the long summer lull, prices for listings that went into contract and … More We Are Back!
Staying true to the seasonality of the month, the NYC real estate market experienced a downshift in both prices and level of activities. The Median Sales Price (MSP) for listings that went into contract in August was $1.17mm, lower than earlier months in the year and 8.5% lower than last year’s average MSP of 1.28mm. … More Prices drift lower in August
As the city empties out on the weekends, the New York real estate market also takes on the summer lull in July. This month we see a typical summer market, where there are less activities but buyers and sellers who do choose to transact in the summer tend to be more focused. The number of … More Does The Market Really Slow Down In The Summer?