Is Manhattan Heating Up?

The NYC real estate market is heating back up, at least according to the Wall Street Journal.

“That is the new face of a more competitive Manhattan residential market in 2017, amid signs that a prolonged slowdown might be drawing to an end.”

Here’s what we’ve observed: unlike the weather, the market is beginning to thaw out. Buyers are definitely out there wearing boots, and wheeling strollers. Lots of beautiful new listings have appeared, and older listing that were languishing have received downward price adjustments and are beginning to move!

My trusted real estate attorney, Helene Hartig, says that “buyers are turning towards the future and looking for prices they think will reflect the market six months from now.” We both also agree that the newly announced rate-hike will start to move potential buyers off the sidelines. So Spring is looking like a great time for buyers and sellers alike!

If you want some help sifting through the data as it applies to your specific needs, you can reach me here.


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