It's November! So, let's talk about October....
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NYC Market Snapshots are Here! |
| It's November, so let's talk about October. And as I was explaining last month, when we get into the Fall market in New York City, it's really September, that is the month for new inventory, whereas October is the month for new contracts signed. But apparently, Manhattan was the only one who got that memo. In Manhattan, we saw contracts signed go up by 15.3% since September. But in Brooklyn and Queens, it went down, ever so slightly, along with the inventory. So if you're a buyer and you are determined to sign a contract before the end of the year and you're waiting for some big swath of new inventory, you're waiting in vain. That new inventory is coming in 2024. So now is the time to look at everything you've seen, look at all your favorites, and decide, is there something that I can see myself living in that I would be happy with, and that I can get a good deal on? Because now is your moment. But if you're waiting until 2024, you're also going to have more competition because there will be more buyers like you also looking. |
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Or just have a quick listen... |
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| Have questions about market forecasts and trends, or anything else real estate-related? I'd love to connect! Don't hesitate to reach out. |
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| | jeremiah.wiggins@compass.com |
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Office: 646-609-9890 Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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