real estate trends Archives - Rava Realty

The Manhattan Market Pulse: February 2024

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The Manhattan Market Pulse: February 2024
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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The Manhattan Market Pulse: January 2024

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The Manhattan Market Pulse: January 2024

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 ...

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10 NYC Neighborhoods to Watch in 2024

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10 NYC Neighborhoods to Watch in 2024

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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Nearly 5K resi units in the pipeline along the U.S. 1 and Metrorail stations in Miami-Dade

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Nearly 5K resi units in the pipeline along the U.S. 1 and Metrorail stations in Miami-Dade

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 ...

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The Manhattan Market Pulse: December 2023

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The Manhattan Market Pulse: December 2023

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 ...

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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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