STATE OF THE MARKET

1ST QTR 2022

Manhattan's robust residential real estate market continued to flex its muscles.  Signed contracts—demand’s best indicator—bettered a record-breaking 2021, marking 2022 the strongest start to any year on record.

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2ND QTR 2022

We suspect that the number at the end of Q3 will more accurately reflect today's mood on Wall Street.   Buyers are hesitating even as the low supply and sky high rental prices should drive purchases.  Sellers are are adjusting their pricing to more realistic levels.  And deals are getting done, but at a slower pace.

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3RD QTR 2022

Apartment sales in Manhattan dipped by 18% year over year in Q3 as higher interest rates and the struggling stock market took their toll on the New York real estate market.  It was the first time since 2020 that Manhattan saw a decrease in the number of residential real estate transactions.

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4TH QTR 2021

The strong Fourth Quarter brought to a close one of the most robust sales and rental years in memory. There was record-setting sales volume, rising prices and sharply falling inventory. To put the closed sales numbers in further perspective beyond the matrix above, Q4 sales over the past decade averaged 2,727, which is 23% below
this year's Q4 total.

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