December 2024 Real Estate Review - NYC Edition
I hope you find this December 2024?Real Estate Review - NYC Edition?useful and encourage you to share it with anyone who may find it interesting.
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I don't?know about you, but, for me,?this year seemed to fly by faster than any other I can recall.
I repost this article every year, as it is updated, and hope it helps:
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Also, just of seasonal interest:
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Hoping you get to enjoy the holiday season with friends, family, and loved ones, and that 2025 brings you much happiness!?
With my thanks and regards,
?
Newly signed contracts have continued their significant annual gains, a trend that began in July and persisted past the presidential election.
After 4?months of growth, new listings stalled, remaining essentially unchanged from the same period a year ago.
The luxury market’s new contract signings experienced an annual surge that was triple the rate of the overall market.
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November 2024 Year-Over-Year Highlights
COOPS
CONDOS
领英推荐
1-3 Family Homes (Townhouses)
Newly signed contracts continued to rise sharply year-over-year, a trend that began in July and persisted past the presidential election.
After 5 months of growth, new listings fell sharply from the same period a year ago. The market above the $2 million threshold has been experiencing a significant annual increase in contract signings since April.
November 2024 Year-Over-Year Highlights?
COOPS
CONDOS
1-3 Family Matrix
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November 2024?Manhattan, Brooklyn & Queens Rentals
Median rent in?Manhattan?expanded annually for the second time as new lease signings continued to surge. New lease signings have been rising annually for 8 months. Listing inventory expanded year-over-year for the fifteenth time. Median rent of non-doorman apartments continued to rise faster than doorman median rent. Median rent of existing rentals increased year-over-year faster than newly developed rentals. Luxury price trend indicators declined in an amount consistent with average sales size. Luxury listing inventory increased annually after falling during the previous month.
Median rent in?Brooklyn?expanded annually for the second time as new lease signings surged. New lease signings have been rising substantially for 14 months. Listing inventory expanded year-over-year for the fifteenth time.
Median rent in?Northwest Queens?expanded annually for the second time as new lease signings continued to surge. New lease signings have been rising substantially for 14 months. Listing inventory expanded year-over-year for the tenth time.
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