The contract activity, or the number of signed contracts, for June is down 4.2% compared to a year ago and 10% compared to the monthly historical average.
The Median Sales Price for a Manhattan apartment is $1.22M, which is basically the same number as a year ago.
The supply, or the number of units on the market, is down 1.1% compared to July 2023. Meanwhile, the number of pending sales, or the number of units currently in contract, is 19% higher than a year ago.
The Market Pulse, or pending-to-active ratio, …
by Riccardo Ravasini 
This year, the borough has recorded two sales over $100 million, the first since 2022. Recently, a penthouse at Vlad Doronin’s Aman New York sold for $135 million, following a $115 million sale at Central Park Tower.
Stock market gains and increasing wealth among the ultra-rich are driving these sales. By the end of last year, the top 1 percent’s wealth hit a record $45 trillion, largely due to stock holdings, which encouraged more spending.
The strength of the luxury market is unaffected by mortgage …
by Riccardo Ravasini 
Total condo sales for May amounted to $320 million, down from $338 million in April. The number of closed sales decreased to 954 units, compared to 979 in April and 841 in March, as reported by Multiple Listing Service data from Redfin.
Sale prices in May ranged widely, from $51,000 to $3.1 million, with a median sale price of $240,000. The price per square foot varied between $72 and $1,277, with a median of $239 per square foot.
The highest-priced sale …
by Riccardo Ravasini 
Miami’s Brickell neighborhood swiftly becomes South Florida’s top spot for living and working. Known as the “Manhattan of the South,” it offers luxury living, economic vibrancy, and cultural richness. Here are some of Brickell’s strengths:
Accessibility and Infrastructure: Centrally located, Brickell offers easy access to major transportation hubs, including Miami International Airport and Fort Lauderdale-Hollywood International Airport. The neighborhood is well-served by public transit options like the Metromover and Metrorail, ensuring seamless connectivity throughout Miami and beyond.
Economic Hub: As a hub for global finance and technology industries, …
by Riccardo Ravasini 
Property values across Miami-Dade County have risen by about 10% from last year, according to a recent report by the county. This marks the third straight year of increases, indicating a strong real estate market despite concerns about housing affordability.
The report highlights that all 34 municipalities in the county saw values go up, with 17 of them experiencing double-digit percentage increases. Florida City saw the biggest jump at 17.6%, followed by El Portal at 15%, and several others also saw significant …
by Riccardo Ravasini