Summer Sales
Property inventory has continued to creep up the past few months in both Manhattan and Brooklyn. The uptick of properties on the market isn’t radical but the increase of options offers opportunity for the buyers who are committed and resilient.
Across the board we’ve seen buyer sentiment shift to a more casual approach to the market – buyers dipping a toe in and out of their search, with indifference and a lack of real commitment. Yet, despite several neighborhoods remaining tight and competitive, others are offering real opportunities. The Upper East Side, Midtown, Harlem are among several neighborhoods where inventory exceeds absorption, and buyers are finding quality purchases.
The story isn’t likely to change much this summer. Mortgage rates are unlikely to fluctuate significantly, property inventory is likely to pace upward but will stay steady at a historically low level, and many would-be buyers will stay on the sidelines for the duration of summer until they wake up with a back-to-school mentality come fall.
So, for those buyers who remain committed and determined, summer is likely to prove in their favor. If a property purchase is in your cards, these next few summer months offer opportunity that many buyers will pass up.
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The Numbers
Manhattan Market Activity
Highlighting our market's past 30 days.
Brooklyn Market Activity
Highlighting our market's past 30 days.
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The Properties
Our month's featured listings on the market.
Chelsea / Manhattan
Condo
2 Beds / 2 Baths
Private Balcony
$2,850,000
Boerum Hill / Brooklyn
Condo
3 Beds / 2 Baths
Private Balcony
Parking Spot
$2,700,000
Morningside Heights / Manhattan
Co-op
2 Beds / 1 Bath
$995,000
Upper West Side / Manhattan
Co-op
2 Beds / 2 Baths
$1,499,000
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The Pick
From the cool and eccentric to reserved and irreverent - Our month’s pick of what's happening in New York City.
If you haven't already, you should:
Central Park Boathouse
Relax and enjoy the beautiful views with dining or cocktails on the lake.
Located in Central Park north of the East 72nd Street/Fifth Avenue entrance.
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