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August 2024 Manhattan Market Activity

August 2024 Manhattan Market Activity

Has August finally squashed NYC's sideways market activity?

NYC's peak dormant season was not as sleepy as anticipated as August outperformed last year's contract activity by 4%. And, this solid performance continued into September with 29 contracts signed above $4M last week - the best post-Labor Day week performance since the Olshan Report launched in 2006. The anticipation of a rate cut and months of pent-up demand must have motivated buyers to get ahead of what maybe a frothy fall.

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