Dear Friends and Clients,
Supply is up month over month, but still down compared to this time last year. We expect more properties to hit the market in the coming months as we approach the busier spring season. The number of pending sales took a dip in January compared to December. However, compared to January 2024, pending sales are up a massive 22.55%. Overall, prices in Manhattan have declined year over year, with the median price decreasing to $1.075M in January.
The spring market is always hotly anticipated, particularly for active buyers patiently waiting for an influx of new inventory. If you’re considering selling, now is the time to prepare your home for the market. Reach out for a consultation on pricing, staging, and marketing strategies, including Compass’s bespoke Three Phase Marketing Plan. To the envy of agents at other brokerages, we are able to garner interest and show listings off-market. It’s a great value for our buyers as well.
Best Wishes,
