Between the Numbers | November 2026

November 2026

In this issue

A Tale of Two Markets  ·  The Month in Numbers  ·  Around Town  ·  Sales & Listings  ·  Our Global Network

A Tale of Two Markets

Less to Choose From. More to Think About.

One of the questions I hear most often is, “Is this a good time to buy?”

My answer usually starts with another question: What are you hoping to find?

Inventory matters, but the number of homes available only tells us so much. The more useful question is how many offer the right combination of location, condition and price - and who else is competing for them.

And right now, there is less to choose from than usual: Manhattan ended the third quarter with 6,354 active listings, the fewest for a third quarter since 2017.

This month, I’ve seen some two- and three-bedroom homes in the West Village and Brooklyn Heights receive multiple offers at price points around $2 million and $4 million. At the same time, some listings around $1 million that I consider objectively good value are taking longer to sell, with buyers pointing to mortgage rates as a major reason they’re hesitant to make an offer. They’re not imagining it - the 30-year fixed rate averaged 7.32% on October 22, up from 6.19% a year ago.

Those are very different experiences within the same market.

Two Different Buying Experiences

For someone buying a first home with a mortgage, the monthly payment can be the deciding factor. Even when the purchase price feels reasonable, the combination of financing costs, maintenance or common charges, and taxes can make it difficult to move forward.

Buyers who can purchase with cash - or finance a smaller portion of the price - have more flexibility. When a particularly desirable home becomes available, they can compete on both price and terms.

NYC has both groups, and their decisions help explain why one listing attracts several offers while another, seemingly well-priced home sits.

If you’re financing a purchase around $1 million, there may be more to choose from and more room to negotiate than the broader headlines suggest. It’s worth looking closely at homes that have been on the market for a while and understanding where a seller may be flexible.

As you move into higher price points, particularly for renovated two- and three-bedroom homes in sought-after neighborhoods, the competition can change. You may be up against cash offers, with pricing driven by the scarcity and quality of the home. In the first week of October, 30 Manhattan homes asking $4 million or more went into contract, the busiest week since early June.

That doesn’t mean every expensive listing will sell quickly. But it does mean that waiting for the entire market to soften could leave you waiting for a home whose particular market remains competitive.

On My Radar: The Bossert and Montague Street

Beyond the monthly numbers, I’m also watching the next chapter of the Bossert - and as a Brooklyn Heights homeowner, I’m watching it a little more closely than most.

In September, SomeraRoad and Marriott announced that the former Hotel Bossert will become The Ritz-Carlton Residences, Brooklyn Heights - 62 condominiums and the first branded residences in Brooklyn. Danny Meyer’s Union Square Hospitality Group will open its first full-service Brooklyn restaurant on the ground floor, with both slated for 2028. After more than a decade of scaffolding, foreclosure and missed openings, the building finally has a clear next chapter.

I’ll be honest: I’m not sure how much the Ritz-Carlton name will mean to the people who choose Brooklyn Heights. Most of us came here for the history, the charm and the privacy - the quiet streets, the brownstones, the feeling of living somewhere that doesn’t need to announce itself. A global hotel brand is a different kind of appeal, and it will be interesting to see who it draws.

What I am sure about is the restaurant. Having a Danny Meyer dining room around the corner is a real gift to the neighborhood, and exactly the kind of place that gives people one more reason to linger on Montague. And the apartments themselves will be beautiful - and very expensive!

Montague already plays an important role in the neighborhood. The Bossert has the potential to add another reason to spend time there.

My Take

The opportunity this month depends on where - and how - you’re buying.

If you’re financing a home around $1 million, you may have the breathing room to compare options and negotiate. If you’re pursuing a beautifully finished home in a neighborhood with few comparable choices, it helps to be prepared for competition, even when other parts of the market feel slower.

For sellers, the same distinction matters. Your pricing strategy should reflect the buyers most likely to purchase your home, the alternatives available to them and what their monthly costs will look like.

The citywide numbers give us perspective. Understanding the market for your particular home is what helps us make a good decision.

Have a question about your corner of the market? Drop us a line.

Daniel

The Month in Numbers

Manhattan, Brooklyn & Luxury, October 2026

October was busy: signed contracts nearly doubled in Manhattan, rose 42% in Brooklyn, and homes went into contract faster than in September.

Changes compare with September

October 1–31, 2026, compared with September 2026.

Around Town

This November in New York

October Sales & Listings

What our team has been working on

Our Global Network

Real estate is local.
Our network isn’t.

Real estate is personal, and the best introductions come from someone you trust. As a member of the Christie’s Council - the top 44 advisors across the Christie’s global network - I have a direct line to colleagues I know and respect in markets around the world. Each month, I’ll introduce you to one of them. This month: Park City, just in time for ski season :)

This month, meet Rachel Retzer and Molly Crosswhite in Park City, Utah, co-founders of VUE Christie’s International Real Estate and the team behind Selling the Slopes.

Rachel has lived in Park City full time since 2009, and the two have worked side by side for well over a decade, with more than $1 billion in career sales across Park City, Midway and Heber City.

If a ski home is on your list, the timing is good: Park City Mountain is targeting a November 20 opening, and Deer Valley a December 5 opening with 200 new acres of terrain.

Meet Rachel & Molly

Thinking about buying beyond New York? Let’s talk. Park City, the Lowcountry or the Amalfi Coast, we’ll connect you with the right advisor. Someone we know by name.

Questions about your home, or your next move?

Drop us a line

By Daniel Kramp, Licensed Associate Real Estate Broker, Christie’s International Real Estate New York  ·  Published November 2026