John Gasdaska and Jonathan Conlon delve into the intricacies of Manhattan's real estate market as of February 2024. With a detailed analysis of the latest trends and statistics, our hosts shed light on the current state and future prospects of the market in one of the world's most dynamic cities.
In February 2024, 929 contracts were signed in Manhattan, +18% month over month and +1% year over year. Inventory was a mixed bag with 6,025 active listings representing a -3% drop year over year and a +5% increase month over month. Days on Market fell to 153 days, a +3% change year over year and -10% decrease month over month.
This episode is a must-listen for anyone interested in the pulse of Manhattan's real estate market, offering a comprehensive analysis, expert commentary, and a glimpse into what the future may hold as we move into the heart of 2024. Tune in to gain a thorough understanding of the current state of affairs and to arm yourself with the knowledge needed to navigate the ever-evolving landscape of Manhattan real estate.
If you have any questions at all, please don't hesitate to reach out. We'd love to hear from you.
0:00 Intro
0:14 Contracts Signed
0:43 How The News Causes Transitions
2:28 NYC vs. National Real Estate
3:20 Buyers Are Struggling
3:44 Inventory
4:42 Lack of Renovated Apartments
6:13 Inventory vs. Contracts Signed + Interest Rates
7:32 Days on Market
8:49 What will increase DOM vs decrease?
10:02 Outro
SHOW NOTES:
https://gasdaskaconlonteam.com/february-2024-manhattan-real-estate-market-report-analysis/
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As one of the top-performing teams at Corcoran, The Gasdaska Conlon Team has seen success, but none of that matters without our clients. We treat every person we work with like we would treat our own family, and it shows. John Gasdaska and Jonathan Conlon are expert, experienced brokers and they are ready to help you buy or sell your piece of NYC real estate.
📅 Stay informed and up to date with what is going on in your city - whether or not you are ready to start a real estate transaction, the information we provide can help you make smart decisions.Come visit us at 590 Madison Avenue, NY, NY 10022, or give us a call at 212-836-1015.
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