The market is officially in recovery mode, at least where signed contracts are concerned, with strong year over year growth.
But it’s a NEUTRAL market – buyers still have a lot of advantages, namely higher inventory and lower asking prices. But they’re NOT fully in the driver’s seat!
Don’t be fooled by higher average prices. Those are likely ticking upwards due to a higher number of transactions occurring at higher price points. ACTUAL prices are still a mixed bag. There’s still big discounts for luxury properties, while townhouses and 2 or 3 bedroom with outdoor space are on fire. There’s also lots of great value opportunities for smaller apartments like studios and 1 bedrooms, especially in Manhattan
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