Tuesday Market Report: August 2022

The supply in the Manhattan real estate market has been rising since we rang in the new year. Due to seasonality, the amount of inventory has been slowly decreasing in the last few weeks. Buyers will likely see less inventory through August, and a jump in new supply come early September.

However, this does not take away from the demand there, and we know those because of the increased pending sales these last couple of weeks. With these indications, we can report that the market is slowly stabilizing itself with these patterns.

Historically August is one of the slower months in the Real Estate world. Some may say this is a good time to sit back and relax. Not me. I like to use this downtime to help my sellers prep their listings for the fall market. Stay Tuned! My team is working around the clock this month to help bring to market some very exciting listings come September.