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Today in Real Estate: 
May Market Recap

Turning the corner into Summer, the Manhattan market has remained quiet. We've noticed that some listings moving very quickly -- if they have low monthlies, have a standout feature(s), and/or are substantially under-priced -- but most are lingering on the market.

 

By contrast, in Brooklyn, demand continues to outpace supply in the neighborhoods closest to Manhattan, and there is a noticeable lack of townhouse supply outside of South Brooklyn. These dynamics have limited the number of transactions and have kept Brooklyn prices higher than ever.

 

Please don't hesitate to reach out if you are navigating this market. Stay tuned for our next report in mid-July recapping the 2nd Quarter.

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