• Manhattan median rents were highest June on record despite the sharp drop in sqft
• Much smaller average size and stable median rent – tenants paid same but got less
• June home sales pulled back as many gave up on Fed cuts, pressuring rental prices
Average size of a Manhattan apartment fell YOY 5.1%, driving down median 1.5% Square footage is trending lower which is what is lowering prices The premature use of "buyer's market" suggests more supply improved affordability Our research on the second quarter Manhattan sales market was published yesterday and an ensuing classic New York Post headline caught my attention. No, not the salacious...
• Consumers who can afford to move, becoming tired of “waiting for the right time”
• Buyers less resistant to move: More sales and rising purchases by mortgage
• Seller less resistant to move: More listing inventory with more accurate pricing
– Case-Shiller set new records but reflects buyer/seller attitudes of last Christmas
– Fed pivoted from NAR (Trade Group) to Case-Shiller (Academia) After The Bubble
– Data collection, access, and analysis abilities supercharged over past two decades
Sales In 2024 Of $100 Million Homes Expected To Double The 2023 Total The Superluxury Market As Nothing To Do With The Local Market Aspirational Pricing Is All About Branding, Not About Selling A Home After a couple of horrifically bad behavior real estate stories here on Housing Notes, consider today a palate cleanser. It's a relief to share something so fantabulous when compared to everyday...
Manhattan rents fell unexpectedly as Brooklyn & Queens rents barely budged New lease signings and listing inventory soared in New York City as churn persisted Listing discounts go "negative," reflecting the marketwide premium above ask Elliman Report: May 2024 Manhattan, Brooklyn & Queens Rentals The listing discount metric in the report is the percentage difference between the original...
Our May New Signed Contract Report for the New York metro area came out today and the annual results for condos were underwhelming. Newly signed condo contracts fell 5.2% annually as their new listings slipped 3%. However, above the $5 million threshold, roughly the top 10% of the condo market, newly signed contracts jumped annually. Despite condos being a highcash market, at roughly 66.3% of all...
Lots of big sports headlines this week covering the passing of Bill Walton, the retirement of the worst MLB umpire of the modern era, taking another sub to the Titanic (gulp), Negro League stats are finally being added to the MLB, A college is shutting down but its baseball team keeps winning, and college football recruits not being paid what they were promised. Yet we're not seeing a spring...
The post Miami-Dade County New Signed Contracts v. New Listings – By Property Type first appeared on Miller Samuel Real Estate Appraisers & Consultants. [...]
This week I joined Jim Duncan and his colleagues at Nest Realty in Virginia. I've known Jim for years through our mutual online writings. His Jim's Note has always been [...]
