{July 2022} Market Update

I just came back from a week in Iceland with my girls.  We drove around and got lost in a vast and beautiful land.  I felt so content.  

The NYC real estate market was quiet throughout June and the first half of July.  But in the last two weeks, our market started to feel a little busier.  Across the listings our team has, we had two accepted offers and generally more showing requests.  Maybe it’s because the broader market felt that inflation was going to be under control and the stock markets recovered a little bit.  I spoke to an attorney friend of mine about what he was seeing.  He said it’s a funny market where it’s hard to generalize.  He renegotiated an accepted offer 5% down on one deal but had competing offers on another deal in the same week.  A few of our buyers are coming back to the table as well.  No one feels the urgency to do something right away but people generally feel better about the market to refocus on their search.  

Good Read:

The empty streets during the pandemic seem like a distant memory now with the city coming back to life in full force.  We stayed in our Brooklyn apartment throughout the pandemic.  This article really resonated with me on what life was like staying in the city during that time.

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