Leave a Message

Thank you for your message. We will be in touch with you shortly.

Is Manhattan Real Estate Collapsing?

Is Manhattan Real Estate Collapsing?
IT’S ALL ABOUT CONTEXT….




Do not let the decline in contract activity fool you into thinking Manhattan real estate is collapsing. How quickly we forget Q2-2022 was the 4th highest quarter in history. The market has been experiencing a natural shift into a normal pace since the second half of the Q2-2022.
  1. Contract Activity Q2-2022 and Q3-2023 were historically robust. We have been experiencing a leveling off of activity into a more normal pace.
  2. Q3-2022 contract activity is up +7.1% from Q3-2019.
  3. Q3-2022 is slightly down -6.4% from average historical activity.
Now, halfway through the 4th quarter, it seems like there has been a slight increase in activity heading into the holidays most likely a result of the mid-term elections behind us and a moderation in inflation. A good word to describe this market is fair. Buyers and sellers making “fair” deals are transacting and both sides are winning.

***We love talking real estate. Please feel free to reach out to us with any and all your real estate questions. 

 


Recent Blog Posts

Stay up to date on the latest real estate trends.

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
Industry Veterans Launch The SIMPLE Real Estate Co., the First Residential Brokerage Firm Designed Specifically for Sellers

Real estate industry veterans Louisa Gillen and Chris Palminteri, announced the launch of The SIMPLE Real Estate Co. (SIMPLE), the first residential real estate broker… Read more
Expert Interview with an Innovative Real Estate Duo: Louisa Gillen and Chris Palminteri

After spending nearly 2 decades as a top producing team for The Corcoran Group, with more than 250 transactions totaling over $350 million, wonder-duo Louisa Gillen an… Read more
Louisa Gillen, Co-Founder and Principal Broker, The SIMPLE Real Estate Co.

Louisa Gillen is the Co-Founder and Principal Broker at The SIMPLE Real Estate Co. (“SIMPLE”), the first residential real estate brokerage firm designed specifically f… Read more
New NYC Brokerage Offers Hybrid Fee Structure

Industry Veterans Launch The SIMPLE Real Estate Co., The First Residential Brokerage Firm Designed Specifically for Sellers. When real estate industry veterans Louisa … Read more
View All

Explore How To

+

Contact Us
Get in Touch
Contact Details

SIMPLE Real Estate

(917) 810-2123

[email protected]



300 E. 56th St., Suite 25D
New York, NY 10022