Here's some surprising news. The Manhattan market is trending above average for August .
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Bill and Ralph's Blog
New York is set for a spring awakening. Contract activity jumped 14.5% quarter-over-quarter in Q1. Buyers and sellers decided to move on with their lives after largely waiting on the sidelines during the second half of 2022.
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Last week Manhattan beat Brooklyn in terms of an increase in signed contracts and closed sales.
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Home buyers and sellers in New York City can potentially save tens of thousands of dollars by using a Purchase CEMA. Essentially, the buyer of a home is "taking over" the seller's remaining mortgage and consolidating it with theirs.
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More buyers are out looking at homes, and as we predicted it's finally showing up in the data.
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You and your partner are ready to move in together. It's time to have an open, honest discussion - about money. Here are the four specific topics to cover.
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We're feeling it. More activity, more showing requests, more open house traffic. That's the vibe our colleagues working in both Manhattan and Brooklyn are feeling too.
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It's just about peak holiday season, and the market is doing what it always does - slowing down. Here’s what we would do if we were planning to sell or buy our home.
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We've gone from a sellers' market to a buyers' market over the last several months. If you've been waiting for that buyers' market to hit bottom, we're already there.
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Mortgage rates fell sharply after government reports that inflation cooled last month. Yesterday we saw jumbo 30-year fixed rates (loans over $647K, most loans in NYC) of 5.5%.
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This was the cover story of Sunday's New York Times Real Estate Section. You'd expect the New York Times to be focusing on the New York City market, right? Not so. This article discussed national trends. So how are things in New York?
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The Manhattan market has slowed. It's not due to a lack of supply. Where we are below trend is demand.
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Last week was an interesting one in the New York City real estate market. Here are three trends we observed.
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Manhattan is in buyers' market territory. We're noticing more price adjustments, and colleagues say fewer people are coming to see their listings. What does that mean?
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Supply is rising and pending sales are falling. Does that mean the market is flooded with desperate sellers and prices are plummeting? Nope.
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We keep our ears to the ground to provide you with real-time information you’re not going to see in the media. Just as we expected, there’s been a big influx of listings on the market since Labor Day.
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While it's infinitely worth it, the process of buying a co-op apartment can be a pain in the a**. A major hurdle is the co-op's financial requirements. We recently helped some clients purchase a co-op for their child, who was new to the city and didn't have the resources to do it on their own . Here's the workaround we employed.
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Last week a colleague was involved in a five-way bidding war for a $2.5M Park Slope co-op. He was very surprised since this is one of the slowest times of the year. Here’s what he did, and our three takeaways.
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We're seeing signs of buyer confidence as Labor Day approaches. Last week in Manhattan, 205 contracts were signed; a 9.6% increase over the previous week. Brooklyn saw 147 contracts and a 9.7% increase, virtually identical to Manhattan's.
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Every Monday morning, hundreds of Compass NYC agents have a group call. It’s an opportunity to share our experiences and learn about what’s happening in the market in real time. After all, we're in the trenches every day, so nobody knows it better.
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