It is my pleasure to share our Q2 2015 Manhattan Market Report with you. This report details the most up-to-date trends that we’ve observed in the marketplace this quarter, with a particular focus on Prices, Inventory, Time on Market, and Closings.
What struck me was that despite increasing inventory in both condos and coops, prices continue to rise. This is partly due to an uptick on the lower end of the market. In Harlem and other parts of Upper Manhattan, where prices have historically been low, demand has surged and prices skyrocketed in recent months. I've been working with several buyers in this area, and we've seen double-digit percentage inflation for the same types of apartments over the course of a few months. It's left many of us wondering if the clock is finally running out on this last bastion of affordable apartments in Manhattan.
Please CLICK HERE to find the full report. If you have any questions about the market or are considering buying and selling in Brooklyn or Manhattan, please don't hesitate to reach out.