Manhattan Market Intelligence

John Walkup, co-founder and partner at UrbanDigs Analytics—whose expertise I highly respect—recently shared five key insights for NYC sellers ahead of the spring real estate market. One point that stood out in his analysis was, “buyers are back, but they’re still picky,” reinforcing what I wrote two weeks ago about the importance of preparing well in advance if you plan to list . Market analyses suggest a cautiously optimistic outlook for Manhattan’s residential real esta

StreetEasy recently analyzed search trends on its platform to identify the New York City neighborhoods gaining popularity among buyers and renters. With rising prices in Manhattan pushing some people out, many are exploring more affordable options across the city. In fact, Brooklyn and Queens are expected to dominate the market in 2025. Of the Top 10 “neighborhoods to watch” identified by StreetEasy, six are in Brooklyn, three are in Queens, and only one is in Manhattan. Acc

Earlier this month, industry analysts noted that real estate activity is expected to increase as more buyers adapt to current mortgage rates and return to the market. With tight inventory keeping competition strong, we may see modest price growth this year. As real estate’s busiest season approaches in just two months, now is the perfect time to start planning if you're considering listing your property. I always advise my clients to begin preparations at least two months in

The saying 'New Year, New You' isn’t just about personal growth—it’s also a great opportunity to refresh your surroundings. If updating your home décor is on your mind, the new year brings a wealth of design trend insights for 2025 to help guide your choices and spark inspiration. Elle Decor’s A-List designers have shared their predictions for the top interior design trends of 2025 , highlighting recurring themes of wellness, relaxation, and comfort—fitting ideas as we close

First, I want to take a moment to send our thoughts to our friends on the West Coast. If you're looking for ways to help, I've included some helpful links at the bottom of this post. Meanwhile, here on the East Coast, Manhattan’s residential market closed Q4 2024 on an unexpected high note. A combination of lower prices, a decline in mortgage rates, and a strong economy unleashed latent demand, driving sales higher. This surge reduced inventory levels and significantly shor

Happy New Year! I hope everyone had a chance to relax and recharge during the holidays. As we step into 2025, let’s dive straight into what experts and industry colleagues are predicting for the year ahead. For starters, Bank of America recently forecasted a 2.0% increase in U.S. home prices this year , reflecting a slower growth rate compared to last year. This marks a decline from the 4.7% increase they projected back in June. Closer to home here in New York, the unexpect

As December rolls on, I’m thrilled to share my traditional annual greeting from a NYC holiday attraction—now in its seventh consecutive year! While the city offers countless marvels every holiday season, this year I chose to film in front of an attraction that’s both new and truly unique— construction scaffolding. Yes, scaffolding! But not just any scaffolding—this is a 3D-printed masterpiece camouflaged to resemble Louis Vuitton’s iconic trunks, currently covering their fl

Rental inventory in Manhattan is on the decline, contributing to rising rental costs in several neighborhoods. Greenwich Village experienced the most significant year-over-year increase , with rents spiking 12.1% to a median asking price of $5,600 in October. Soho and Flatiron followed with the 3rd and 4th highest increases, up 9.6% (median ask: $8,000) and 9.0% (median ask: $6,375), respectively. In contrast, rental inventory is increasing in Queens and Brooklyn, leading to

When we hear that inventory is up, it’s easy to assume there’s no shortage of supply. However, this assumption often overlooks a key nuance: inventory figures represent total supply across the board. While the overall number may seem robust, it doesn’t account for specific neighborhoods or price points where inventory might actually be low. As a result, aggregate numbers can be misleading at first glance. According to Brown Harris Stevens’ November 2024 Manhattan Inventory Re

With Thanksgiving just a week away, many of us are already diving into the holiday season—whether it's shopping, decorating, or planning festive gatherings. For New Yorkers, shopping options abound, but decorating? That’s where the challenge can come in. City living often means smaller spaces, but that doesn’t have to stop you from embracing the holiday spirit—or even hosting your own holiday party! If you celebrate Christmas, you’ll find a variety of tree sizes perfect for

Overpricing a home can be tempting, as many sellers worry that pricing too close to market value leaves money on the table. John Walkup, co-founder and partner at UrbanDigs Analytics, explains, “This tendency is rooted in human psychology. Sellers believe that by not asking more than the home is worth, they miss out on potential gains.” In his analysis, Walkup categorizes pricing outcomes by days on market , classifying homes as either priced right, middle ground, or overpric

With the results of a historic presidential election still fresh, I know many are wondering how the housing market could be affected by the new administration. To start, we’ve seen a slight spike in the 30-year fixed mortgage rate, which jumped 9 basis points to 7.13% after Tuesday’s night’s election results—a new high since July 1, as reported by Mortgage News Daily. Historically, the real estate market doesn’t tend to shift immediately after an election. Instead, it ofte

PropertyShark's Q3 2024 report on NYC’s Top 50 Most Expensive Neighborhoods brings some noteworthy shifts. Notably, Hudson Yards , which held the top spot for the past two quarters, is absent from the rankings for the first time since the early pandemic shutdowns due to insufficient sales. This allowed SoHo , previously ranked second with a median sales price of $3.1M, to claim the # 1 spot for the first time in eight years, boasting a median price of $4.25M. Rounding out

A week from today, New Yorkers of all ages will take to the streets in costume to celebrate one of the city’s favorite holidays—Halloween. It’s a time for both young and old to embrace the thrill of escaping reality, whether by attending house parties, joining the iconic Halloween parade in Greenwich Village, or exploring haunted houses. This year, NBC adds to the fun with a first-ever Jimmy Fallon-themed haunted maze, " Tonightmares ," at Rockefeller Center—an experience sai

The fall season in New York City real estate is off to a strong start. In September, nearly 1,700 homes went into contract—a 26.4% increase compared to last year and the highest since 2021 , according to StreetEasy. This uptick is likely due to the recent drop in mortgage rates. The market also saw over 4,100 new listings, reflecting a 7.1% rise from a year ago. Manhattan played a key role in this growth, particularly in the luxury market. With asking prices for luxury prop

During the pandemic, as New Yorkers found themselves working from home, many had to transform limited spaces into makeshift offices. Although many have returned to the office, the need for versatile, multi-use spaces remains, as the pandemic reshaped how we live and work. Older homes were often built with formal, designated areas like kitchens, bathrooms, bedrooms, living rooms, and sometimes a family room or den. However, many New Yorkers find that their dining rooms are u

The Q3 2024 Manhattan Apartment Market Report is out, and as expected, the market is showing signs of recovery. Declining mortgage rates since May have led to a 6% increase in closings this quarter compared to the same period last year. With a sharp rise in signed contracts, we anticipate a strong fourth quarter, driven by continued rate declines, easing inflation, and further expected rate cuts . Jonathan Miller, President and CEO of Miller Samuel Inc., notes, “It looks l

As discussed last week, the Federal Reserve’s rate cut won’t immediately affect mortgage rates , so we shouldn’t expect a flurry of sales activity right away. In fact, we may not see a significant uptick in the housing market for some time. Since most deals take 60 to 120 days to close, the real impact likely won’t be felt for another three to four months . Many buyers seem to be waiting for rates to drop further. As I mentioned last week, Greg Heym, Chief Economist at Brow

The Federal Reserve's long-anticipated rate cut became a reality yesterday, marking the first reduction in over four years. The key interest rate was slashed by 50 basis points —an unusually large cut—bringing the federal funds rate to a range of 4.75% to 5%. This decision surprised analysts, who had largely expected a more modest 25-basis-point cut, making the move both larger and more impactful than predicted. While this long-awaited news might lead some to expect an imme

When it comes to home renovations, there's no specific time that's better than another—at least for New Yorkers. Renovations happen year-round, as costs and scheduling in NYC aren't impacted by seasonality the way they often are in the suburbs. That said, I like to cover this topic at least once a year as a helpful refresher for anyone planning or in the midst of renovations. For some, home renovation projects can be enjoyable, while others may find them overwhelming. Befo