Dear Friends and Colleagues,
Manhattan market was slower in Second Quarter 2018, there were fewer closed sales, more inventory came onto the market, and prices steadied. If you are a new buyer in the market, there is a lot of quality choice on the market. In the Last quarter there were approximately 3,200 transactions signed in the last 12 months, slightly down on 2017. Inventory expanded 17% year-over-year to approximately 7,500 listings. Signed contracts and sales improved on the last quarter, as buyer demand for Manhattan properties still saw an increase in Second Quarter 2018.