What’s going on in the Residential Market?
The contract activity, the number of signed contracts, for the month of December is down 4.9% compared to a year ago and also down 18% compared to the monthly historical average.
The Median Sales Price for a Manhattan apartment is $1.16M, and it’s 3.2% up compared to a year ago.
The supply, the number of units on the market, is down 2.9% compared to the same period of January 2023. While the number …
by Riccardo Ravasini 
StreetEasy’s ranking of NYC neighborhoods to watch in 2024 suggests that Queens was the top destination in 2023 among renters and buyers seeking affordability. The borough’s popularity was driven by a recent surge in developments.
However, StreetEasy predicts that Manhattan will start to regain popularity among renters in 2024 as rental prices in the borough begin to drop. Trendy sub-neighborhoods within popular areas like SoHo and the Upper East Side are expected to lead the way in Manhattan. This forecast reflects potential shifts in demand and …
by Riccardo Ravasini 
Foreign buyers injected $5.1 billion into South Florida residential real estate this year, experiencing a $1.7 billion decrease from the 2022 total of $6.8 billion, as the Miami Association of Realtors reported. This dip reflects the overall cooling of markets after the pandemic-induced frenzy.
While both domestic and foreign purchases declined, international buyers maintained their South Florida market share at 18%, engaging in 6,200 home transactions. Miami-Dade accounted for 72% of the foreign buyer sales volume, totaling $3.7 billion, followed by Broward at $1.1 billion and …
by Riccardo Ravasini 
In a rush to tap into the potential of transit-oriented sites, developers in Miami-Dade have unleashed a wave of residential towers along U.S. 1, predominantly capitalizing on the density and height opportunities provided by Metrorail stations. A comprehensive analysis reveals a pipeline of nearly 5,000 units comprising apartments, spanning completed, under-construction, and proposed projects from Dadeland Mall to Coconut Grove.
While some projects, such as Grove Central by Terra and Grass River Property, align with Metrorail stations through public-private partnerships, others, like Fortune Development Group’s proposed …
by Riccardo Ravasini 
What’s going on in the Residential Market?
The contract activity, the number of signed contracts, for the month of November is down 5.3% compared to a year ago and also down 22% compared to the monthly historical average.
The Median Sales Price for a Manhattan apartment is $1.12M, and it’s 1% up compared to a year ago.
The supply, the number of units on the market, is down 3.4% compared to December 2022. While the number of pending sales, or …
by Riccardo Ravasini