Viewing entries tagged
quarterly report
The resilience of the Manhattan residential real estate market was on full display in the first quarter. A new year, new administration, low interest rates, and multiple and more readily available vaccines restored hope. Covid changed the way buyers look for and value space. With pent-up demand, today’s purchasers seek units with outdoor space and private areas for home offices, working out and gathering safely.
A new president was sworn into office this noon, and as the Times aptly reported, his “To-Do List” is daunting. Primary among his tasks, President Biden has pledged to oversee the vaccination of 100 million Americans in his first 100 days. In New York, we’re looking forward to when most are inoculated, and we gain herd immunity and can look back on this dreadful nearly year-long Covid period.
Manhattan real estate is recovering. Signed contracts and transaction volume are up. Especially encouraging is activity on the high end which saw 21 contracts signed over $4M in the last week of September—the highest since lockdown and the strongest final week of Q3 since 2014 when 33 contracts were signed (per the Olshan Report).
Those hazy hot and humid days of August are upon us in this third month of summer, the perfect time of year to hang your GONE FISHING sign and when most Europeans take their annual vacations. Celebrate Sisters’ Day on the month’s first Sunday, Lazy Day on the 10th, Middle Childs’ Day on the 12th, and Just Because Day on the 26th.
