The real estate scene in Manhattan, is showing some interesting moves lately. Although the supply has gone slightly down, sitting at just under 7,500 units this week, the new listings have dipped but are still similar to what we’ve seen in past years.
New listings in the last 7 days represent 375 units, a decrease of 6.5% compared to last week. Interestingly, even though we saw the lowest number of new listings in October in five years, the total number of new listings cumulative for 2023 has just gone over 13,000, which usually happens in earlier September.
Buyers have started to make moves, with the number of signed deals going up by 47.5% which represent 180 contracts signed, compared to last week, but it’s pretty much the usual activity level. The recent surge in property sales shows that New York’s real estate remains strong.
