We're feeling it. More activity, more showing requests, more open house traffic. That's the vibe our colleagues working in both Manhattan and Brooklyn are feeling too.
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Bill and Ralph's Blog
It's just about peak holiday season, and the market is doing what it always does - slowing down. Here’s what we would do if we were planning to sell or buy our home.
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We've gone from a sellers' market to a buyers' market over the last several months. If you've been waiting for that buyers' market to hit bottom, we're already there.
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Mortgage rates fell sharply after government reports that inflation cooled last month. Yesterday we saw jumbo 30-year fixed rates (loans over $647K, most loans in NYC) of 5.5%.
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This was the cover story of Sunday's New York Times Real Estate Section. You'd expect the New York Times to be focusing on the New York City market, right? Not so. This article discussed national trends. So how are things in New York?
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The Manhattan market has slowed. It's not due to a lack of supply. Where we are below trend is demand.
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Last week was an interesting one in the New York City real estate market. Here are three trends we observed.
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Manhattan is in buyers' market territory. We're noticing more price adjustments, and colleagues say fewer people are coming to see their listings. What does that mean?
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Supply is rising and pending sales are falling. Does that mean the market is flooded with desperate sellers and prices are plummeting? Nope.
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We keep our ears to the ground to provide you with real-time information you’re not going to see in the media. Just as we expected, there’s been a big influx of listings on the market since Labor Day.
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While it's infinitely worth it, the process of buying a co-op apartment can be a pain in the a**. A major hurdle is the co-op's financial requirements. We recently helped some clients purchase a co-op for their child, who was new to the city and didn't have the resources to do it on their own . Here's the workaround we employed.
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Last week a colleague was involved in a five-way bidding war for a $2.5M Park Slope co-op. He was very surprised since this is one of the slowest times of the year. Here’s what he did, and our three takeaways.
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We're seeing signs of buyer confidence as Labor Day approaches. Last week in Manhattan, 205 contracts were signed; a 9.6% increase over the previous week. Brooklyn saw 147 contracts and a 9.7% increase, virtually identical to Manhattan's.
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Every Monday morning, hundreds of Compass NYC agents have a group call. It’s an opportunity to share our experiences and learn about what’s happening in the market in real time. After all, we're in the trenches every day, so nobody knows it better.
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We've been feeling it, and the numbers are backing it up. The market is back to the normal "summer slowdown."
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We’re pleased to share Compass’ Manhattan Market Report for the second quarter of 2022. It sure was a busy one! What’s in store for Q3?
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Real estate market reports provide valuable data and insight, but here are a few things to remember when you read them.
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There's real opportunity for investors in New York City today. The median monthly rent for an apartment is $4,000, the highest it's ever been, and there isn't enough supply to meet demand. It could be time to buy an investment property.
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Interest rates are rising, there's talk of recession, and you're thinking about listing your home. Should you do it? The answer is yes.
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What does the relentless drumbeat of bad news mean for the New York City real estate market? As we've been saying for several weeks, it's cooling, but still more active than it's historically been this time of year.
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