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Does New York Real Estate Prove Slow and Steady Wins the Race?

Does New York Real Estate Prove Slow and Steady Wins the Race?

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Does New York Real Estate Prove Slow and Steady Wins the Race?

2024's contract activity finally edges out 2023 with a robust Q3-2024 performance. September's +21% contract surge over Sept-2023 has squeezed out 127 more contracts than 2023 thus far, and we will take it! After a lackluster 2023 and a sideways performance for the majority of 2024, we welcome any positive indicators leaning toward a healthy market recovery. We, also, appreciate the stronger demand coming into election season, which typically keeps buyers on the sidelines. But, buyers don't seem as spooked as they have been in the past as a result of pent up demand and a 50 bps rate cut.

After 14 straight months of underperforming the rolling seasonal average of monthly signed contracts, August and September are moving more in-line with them (see chart below).
The dip in contract activity from Q2 to Q3 is typical as July, August and September are NYC's slow performing months.

New York City is made up of numerous micro-markets. Call us for a valuation of your market and home. Trust your neighborhood experts!

Recent Blog Posts

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Surprise, surprise...what blew our minds in February?

Manhattan Real Estate Activity | February 2025

Did slow and steady (and a strong Q4) win the race?

Monthly Newsletter - Q4 2024

How dry was January?

Cut through the noise with our monthly newsletter

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

November 2024 Market Report

Just How Good Was October's Market Activity?

October 2024 Market Report

Does New York Real Estate Prove Slow and Steady Wins the Race?

Q3-2024 Manhattan Market Update

August 2024 Manhattan Market Activity

Anyone else feeling a shift in the market?

Is Manhattan Real Estate Collapsing?

Simplifying Real Estate | An Interview with Louisa M. Gillen, Co-Founder, The SIMPLE Real Estate Co.

EDITORS’ NOTE Before launch- ing SIMPLE, Louisa Gillen and Chris Palminteri spent 16 years as a top producing team at The Corcoran Group, closing more than 250 trans- … Read more

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