Manhattan Market Intelligence

Not long ago, foreign buyers were snapping up New York City real estate at a rapid pace, but over the past year, sales activity has cooled. With low inventory, high prices, and a strong U.S. dollar, international buyers have eased off the gas. Some may also be hesitating due to the upcoming election, opting to wait and see how things unfold in November. The National Association of Realtors (NAR) reported a 36 percent year-over-year drop in U.S. real estate sales by foreign

Yesterday, we learned that inflation fell to 2.9 percent year-over-year—the lowest since March 2021. This economic data suggests that we may see the anticipated rate cut by the Fed in September, which could help stimulate the market. This summer, the market was sluggish as buyers held out, hoping for more inventory and lower prices, while sellers waited for stronger demand to push prices higher. For those eager to buy but holding off to see what the Fed might do, this co

A new list of the Top 50 Most Expensive Neighborhoods in New York City for Q2 2024 was released by PropertyShark . The coveted top three spots saw no change from Q1 : Hudson Yards held the lead with a median sales price of $7.5M, followed by SoHo at $3.1M, and Tribeca at $2.9M. Notably, Hudson Yards' median price, more than double that of SoHo, was based on just five sales, whereas SoHo's figure encompassed 37 sales. Fieldston made a notable return with a 257 percent p

The Federal Reserve announced yesterday after its two-day meeting that interest rates will remain unchanged. However, things look hopeful for September. According to Federal Reserve Chair Jerome Powell , the strengthening economy and cooling inflation are paving the way for a widely anticipated September rate cut—the first in four years. Brett House, an economics professor at Columbia Business School, says, “The first cut will not make a meaningful difference to people’s po