Welcome to the month of May! Finally starting to see more sunny days with people out and about enjoying not only the warmth, but the beautiful tulips that are currently all over New York as spring goes on. I can say the energy through New York is alive.

As we head into a new month, let's see how it turned out in the real estate market for 2022 so far:

• In a stellar first quarter, closed sales rose 36% annually to their highest first-quarter level in 15 years. Closings have now risen YOY for five consecutive quarters.
• Even more impressively, signed contracts improved versus a record-breaking 2021, and at nearly 4,000 deals was the strongest start to any year on record. interesting stat - In Manhattan - 60% of the deals in February were all-cash, so the rising rates didn’t have a big effect on the activity
• Brooklyn prices are at record high numbers 
• The rental market is having a monumental comeback with landlords reaping all the benefits: vacancy rates are at 1.5% and average rents are up 30-50% compared to the same time last year 
•  For all the nitty-gritty full Manhattan, Brooklyn, and rental reports follow Here
   
  As always, I'm here if you would like to discuss any sector of the market or your upcoming real estate goals :). 

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