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Market by Marty


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New and Noteworthy

Q2 Manhattan Market Report

Sales volume and transactions during 

the first six months of the year hit a 

record high, while transaction volume 

for Q2 jumped 18.6 percent. 

In 

addition, the average sales price rose to 

$2.1 million in Q2, up more than 10 

percent year-over-year.

 

However, contracts signed in Q2

 fell almost 25 percent compared to last 

year, signaling changes in the market. 

(Full Report)
Mortgage Rates

Lately, mortgage interest rates have been in flux. Mortgage rates averaged 5.51% for 30-year fixed-rate loans this week. That’s up from last week when they averaged 5.3% but lower than the week before that when they were at 5.7%. Despite the fluctuations, current mortgage rates are said to account for the next 2 cycles of Federal interest rate hikes baked in. (Full Story)


Average Manhattan Rent Breaks $5,000 for the First Time in History
The analysis calculated an average Manhattan rent of $5,058 per month, which would cost a city resident ~$61,000 a year. That figure marks a 1.7% month-over-month climb from the $4,975 average rent recorded in May, as well as a 29% year-over-year spike from the $3,922 average found in June 2021. (Full Story)

Team News

Mark Your Calendars!

Are you considering buying real estate in this market? Do you want the latest information on how to so provided by a panel of experts in the field? If so, we have the event for you!


The following experts will give you advanced tools that only insiders know about to help you navigate this current market:


Martin Eiden: NY Associate Broker - Compass

Alex Mahgoub: NY Associate Broker - Compass

Ramzis Hadzhi - NY Real Estate Agent - Compass

Michael Landsman: Partner - Holm & O'Hara LLP

John Pasquarello: Mortgage Loan Officer - US Bank


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 July 26th 

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Our Properties

114 West 17th Street, Unit 5F
Chelsea
5 Bed | 2.5 Bath
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Upper West Side
4 Bed | 3 Bath
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Upper East Side
4 Bed | 3 Bath
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© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC

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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