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Carlin's Spring Fever

04/24/24

Here is a look at what we have been up to so far this Spring (in addition to sprouting my first grey hairs in order to get here)...


Sneak Peak of Upcoming Listings

 
GREENWICH VILLAGE

61 W 9th St, Unit 10D

1 BD 1 BA $1,550,000
 
 
 
SOHO

181 Thompson St, Unit

1 BD 1 BA $495,000
 
 

Contracts Signed

 
GREENWICH VILLAGE

30 5th Avenue, Unit 14F

2 BD 2 BA 0 SF $2,400,000
 
 
 
UPPER WEST SIDE

372 Central Park West, Unit 10P

2 BD 2 BA 1141 SF $1,950,000
 
 
 
CHELSEA

360 West 21st Street, Unit 4L

1 BD 1 BA 0 SF $750,000
 
 
 
UPPER WEST SIDE

2025 Broadway, Unit 19F

4 BD 3 BA 0 SF $2,250,000

 

Featured Listings

 
WEST VILLAGE

77 Perry Street, Unit 6CD

1 BD 2 BA $1,699,000
 
 
 
FLATIRON

16 West 16th Street, Unit 7RS

2 BD 1 BA $1,450,000
 
 
 
UPPER WEST SIDE

2166 Broadway, Unit 5E

2 BD 2 BA $990,000
 
 
 
LENOX HILL

175 East 62nd Street, Unit PHA

2 BD 3 BA 1500 SF $2,250,000
 
 

Upcoming Closings

 
BROOKLYN HEIGHTS

150 Joralemon Street, Unit 7D

2 BD 2 BA 0 SF $980,000
 
 
 
GREENWICH VILLAGE

43 5th Avenue, Unit 8NW

2 BD 2 BA 0 SF $2,700,000
 
 
 
LOWER EAST SIDE

215 Bowery, Unit 2F/R

2 BD 3 BA 2000 SF $2,750,000
 
 

MARKET UPDATE

At the close of last week, Manhattan “supply” was at 6,924 listings on the market. We usually see that number peak around 7,500 by June each year, and inventory is coming on the market a bit more quickly than usual.

 

 

 
 
969 contracts were signed last week, down 8% from the week before. The weekly contract signed number is usually 1,088 by the end of April, so we are coming in light. Knowing this insider intel which shows that this is likely the strongest that the market is going to get for the year, how do we advise our sellers? We are discussing any necessary price reductions now, rather than waiting until May when there is traditionally more competition and less buyer activity. And buyers can afford to play a little hard ball on certain listings.
 
We are also seeing an increase in all-cash deals. In the first quarter of the year, 63% of Manhattan homes were purchased in all-cash (46.8% of those were luxury homes over $4m) which is the highest percentage of cash purchases in a decade.
 
 
 
 
We keep our finger on the macro-pulse of the Manhattan market, analyzed down to the specific neighborhood and property type and bedroom count, allowing us to provide the most accurate valuations for both buyers and sellers. Reach out to us anytime for a customized update!
 

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