manhattan Archives - Rava Realty

Manhattan Market Pulse

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Contract activity (or the number of signed contracts) is up 3.8% from a year ago and down 1.5% from the monthly historical average. The Median Sales Price for a Manhattan apartment is $1.14M, which is 1.5% less than the same period last year.The supply, or the number of units on the market, is down 2.6% compared to 2023. Meanwhile, the number of pending sales, or the number of units currently in contract, is 8% higher than a year ago.
The Market Pulse, or pending-to-active ratio, stands at 0.43, confirming a ...

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Good signs for the Manhattan office market

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Last month, Manhattan’s office market surged, nearing pre-pandemic levels, led by robust leasing in Midtown. Nearly 2 million square feet were leased there, contributing to a total of 3 million square feet across all central business districts in May, a 70% increase from last year. Key transactions included Bloomberg’s large lease at 731 Lexington Avenue, the largest since 2019, and substantial leases at 22 Vanderbilt, highlighting market dynamics. These large deals significantly influenced market activity, but despite challenges, the market shows signs ...

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Manhattan Market Pulse: March 2024

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The contract activity, the number of signed contracts, for the month of February is up 8.6% compared to a year ago and down 5.7% compared to the monthly historical average.

The Median Sales Price for a Manhattan apartment is $1.04M, which is 1.2% lower than a year ago.

The supply, or the number of units on the market, is down 3.3% compared to March 2023. Meanwhile, the number of pending sales, or the number of units currently in contract, is 21.6% higher ...

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The Manhattan Market Pulse: February 2024

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The Contract Activity, the number of signed contracts, for the month of January is up 19.4% compared to a year ago and down 6% compared to the monthly historical average.

The Median Sales Price for a Manhattan apartment is $1.13M, which is 5.3% higher than a year ago.

The Supply, the number of units on the market, is down 4.3% compared to the same period of February 2023. Meanwhile, the number of Pending Sales, or the number of units currently in contract, is 43% higher than a year ago.

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10 NYC Neighborhoods to Watch in 2024

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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 ...

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Cost of living in South Florida outpaces national average

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South Florida’s cost of living surpasses the national average. When an index of 100 represents the national average cost of living across 269 cities, Miami and Fort Lauderdale had index values of 115.3 and 118.3, respectively, in the third quarter of 2023.

Notably, if Manhattan were considered separately, it would lead with an index value of 227.8.

(source: axios.com, picture: rachel-martin)

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