Do you know which segment of the market is still lagging?

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Manhattan real estate activity in November 2024: contracts, median price per square foot, inventory, and days on market.

November's signed contract activity is the fourth month in a row to outperform 2023 and the third month in a row to outperform the seasonal average. Now while this is all exciting and positive news, let's also give it a dose of reality by adding some context:

Contract activity is up +34% YOY, but let's remember 2023 was the weakest year in terms of deal volume in 10+ years excluding 2020 due to Covid.
More seasonality is coming back into the market after a weak 2023 and sideways performance until the end of the Q3 in 2024.
We are curious to see just how strong we will close out 2024 compared to 2023. We have just slightly outperformed 2023 deal volume as of now.

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