November Newsletter

In October, Manhattan and Brooklyn's real estate markets saw more buyers jumping into the market despite fewer available listings.

In Manhattan, listings dipped slightly to 7,646 (just under 1% from September), but demand surged with 1,003 resale contracts signed—a 40% increase. This jump indicates strong buyer confidence, perhaps due to favorable pricing or limited new development options. New development contracts also rose, with 165 signed (up 17%), showing continued interest in modern properties.

Brooklyn had a similar trend, though with a sharper drop in listings, down nearly 6% to 3,110. However, this didn’t slow demand, as resale contracts jumped by 41% to 636, reflecting Brooklyn’s appeal for its neighborhood charm and relative affordability. New development contracts rose by 27% to 99, indicating steady interest in brand-new construction.

Overall, these numbers reflect active demand, particularly for resale properties, as inventory tightens. For buyers, this means increased competition, especially for well-priced homes, while sellers could benefit from the strong buyer interest heading into fall.

If you have any questions about the market or want insights on buying or selling, feel free to reach out to me—I’m here to help guide you every step of the way.

Yours
Daniel

• Prime Waterfront Locations: Portugal enjoys coveted spots along the coast, offering breathtaking views.
• Unparalleled Team: Christie's affiliates, Luximos & Porta De Frente with luxury developer, Kronoshomes.
• Discerning Lifestyle: Portugal caters to those with discerning tastes, an unwavering quest for excellence, a deep reverence for tradition, and an appreciation for individuality.

November in New York is packed with excitement—from cozy fall festivities to holiday season kickoffs—so grab your scarf, your favorite pumpkin spice treat, and let’s dive into all the quirky, must-do events happening this month!