2022 Archives - Page 3 of 3 - Rava Realty

Manhattan Sales Market Report Q1 2022

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We reached a record-breaking number of closed sales, 3,585 to be exact, the highest registered in thirty-three years; up +45.9% year over year and +48.9% from pre-pandemic levels.

Listing inventory (the number of available properties on the market) declined 4.4% to 6,906. A decline that has been going on for several quarters. As the market returned to seasonality, the excess demand overpowering listing inventory was partially offset by the seasonal rise in ...

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Manhattan Luxury Reality Check

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There were 121 closings at $4 million and above in January 2022, 50 less than December. The Average Closing Price was $8,111,567 down -18%, meanwhile, the Median Closing Price was $6,125,797 down a nominal -0.4%. The Negotiability Factor, that is the average discount from the last asking price, was 4.55% down from 6.62% during the previous month. The pace of the market was basically unchanged since the Average Days On the Market were 155 compared to 153 for the properties that ...

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Manhattan Rental Market Report

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There were 3,159 New Lease Signings in Manhattan in the month of January -49.5% from the same period last year, dipping below the decade average as listing inventory continued to collapse as prices reached record levels.

The Median Rental Price was $3,550, up +18.3% from the previous year, while the Net Effective Median Rent, the face rent, surged year over year by a record +23.3% to $3,467, the second-highest level reached in a January. This price trend indicator ...

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NYC Schools Will Go All In-Person, No Remote Next Year

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NYC Schools Will Go All In-Person, No Remote Next Year

New York City’s public school students will all return to classrooms in the 2021-2022 year, Mayor Bill de Blasio said.

“It’s good news: New York City public schools, one million kids will be back in their classroom in September, all in-person, no remote,” he said on MSNBC’s Morning Joe.

The announcement represents a significant upcoming return to normal for the city’s schools, which have been at least partially remote since the coronavirus pandemic first struck in March 2020.

(source: patch.com)

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