Posted on July 11, 2021 at 9:51 am by West Sider

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While we are starting to see hints of a return to seasonality, the market beat continues. Although June saw the highest pace of new listings in recent memory, the pace of overall supply contracted by 25% . This is due to overwhelming deal volume and an increasing number of properties coming off the market (the seasonality mentioned, typical of summer months in years past). In pre-Covid times 250 contracts/week was considered to be robust activity; over the past 4 weeks we have averaged 360 contracts/week. It’s hard to communicate the level of activity that represents. Over the past 4 weeks we have seen 1,440 deals signed, totaling in excess of $1.3 Billion in residential real estate sales…in Manhattan alone. Deal volume is up in virtually all the segmented categories you can define.


Courtesy: UrbanDigs

At the onset of 2020, just prior to…

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