New York experienced slight fluctuations in the real estate sector over the past week. Although the supply showed a minor decrease, it remains in line with trends from previous years. Over the past week, 360 new properties were listed on the market, marking a slight drop of -10.60% compared to the previous week.
This can be attributed to the holidays, which also influenced the number of new contracts signed. Indeed, there were 149 new contracts signed this week, representing a minor decline of -17.2% from the previous week. However, this figure is comparable to statistics from prior years, demonstrating the stability of Manhattan’s real estate market.
Moreover, the median selling price is $1 424/sq ft, a slight decrease of -1.7% compared to last month.
Furthermore, there appears to be a current cap on rental prices. The median asking price now stands at $4,350 per month.
