The Manhattan Market Pulse – May 2025

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The Manhattan Market Pulse – May 2025

The Contract activity, or the number of signed contracts, is up 13.4% year over year, the same as the monthly historical average, with 1,089 closed contracts.

The median sales price for a Manhattan apartment is $1.19M, reflecting a 5.8% increase compared to a year ago.

The supply, or the number of units available on the market, is really close to last year’s, as it has decreased by just 1% annually.

Meanwhile, the number of pending sales in Manhattan has risen 25.6% yearly.

The Market ...

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More Manhattanites Need Parents to Buy a House

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More Manhattanites Need Parents to Buy a House

Residents of Manhattan are increasingly relying on their parents to purchase or transfer properties to them.

According to new data from Attom, 28% of Manhattan home sales in 2023 involved trusts, a sharp increase from 17% just three years prior. While not all trust transactions include parents and children, they have become a go-to tool for wealth transfers, offering benefits such as reduced estate taxes, limited gift tax exposure, and increased privacy.

The surge reflects a broader shift in real estate financing, driven by a combination of rising ...

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Manhattan Market Pulse – March 2025

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Manhattan Market Pulse – March 2025

Contract activity, or the number of signed contracts, is down 3.7% from last year and 9.7% from the monthly historical average. The median sales price for a Manhattan apartment is $1.19M, reflecting a 16.4% increase compared to a year ago. The supply, or the number of units available on the market, has decreased by 0.6% annually. Meanwhile, the number of pending sales in Manhattan has risen 14.3% year-over-year. The Market Pulse, which represents the pending-to-active ratio, stands at ...

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Manhattan Market Pulse

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Manhattan Market Pulse

Contract activity (or the number of signed contracts) is practically the same as a year ago, down just 1%, while it is down 7.6% from the monthly historical average. The median sales price for a Manhattan apartment is $1.15M, which is up 2.4% compared to a year ago. The supply, or the number of units on the market, is down 5.4% year over year (YoY). Meanwhile, the number of pending sales in Manhattan is 15% higher YoY. The Market Pulse, or pending-to-active ratio, stands at 0.48, confirming a neutral market.

*Currently, above 0.5 is ...

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Office-to-Residential: A Game-Changer for NYC Real Estate

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Office-to-Residential: A Game-Changer for NYC Real Estate

We continue to hear about a commercial office recovery. Yes, it is true, but that could be misleading. While reports suggest improvement, much of the office market remains distressed, with properties selling at steep discounts—due to the lasting impact of remote work. High-end office spaces are doing good, but the real transformation is happening elsewhere: office-to-residential conversions.

A Surge in Conversions – Despite high interest rates, developers are moving forward with office-to-residential projects at an unprecedented pace. Manhattan leads the way, with a significant number ...

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5 Things to Expect for Manhattan Real Estate in 2024

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5 Things to Expect for Manhattan Real Estate in 2024

Manhattan’s Real Estate market is influenced by economic, social, and geopolitical factors. Examining five key areas, this piece utilizes data and market trends to anticipate potential shifts in the Manhattan real estate market in the months ahead.

  1. Changes in the Federal Reserve’s rates, 10-year Treasury yield, and mortgage rates strongly impact Manhattan’s real estate scene. A recent rise in rates coincided with a dip in signed contracts, prompting buyers to rethink affordability. If Fed rate cuts materialize in May ...

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