The NYC real estate market is operating with limited optimism. Right before and after the rate cut, there was a rush of activities.
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February was a little busier than January, which was busier than all of 2023. It felt that spring was in the air after a long winter for the New York real estate market.
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While the stock markets around the world roared to their best January returns since the early 2000’s, the NYC real estate market was subdued in comparison.
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Aside from being an aesthetic masterpiece, its location just south of the Hudson Yards holds
much appreciation potential.
After the market finally awoke from the long summer lull, prices for listings that went into contract and closed in September snapped back. Median Sales Price (MSP) for both in contract and closed listings clocked in at 1.2mm, about the same as before summer, but lower than the average MSP of 2016.
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