I hope you're enjoying summer and finding time to slow down a bit. While the city feels a little quieter, the real estate market has remained active, with plenty to unpack from the second quarter.

 

One of the clearest themes this quarter was an increasingly bifurcated market. Demand remained strongest for properties over $1M, while the under-$1M market softened in both Manhattan and Brooklyn as higher mortgage rates and affordability concerns weighed on buyers. Price gains were driven more by limited inventory and a greater concentration of higher-end sales than by broad-based appreciation. As we've seen throughout the year, well-positioned properties continued to command the strongest interest and achieve the best results.

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