New Year, New Market | January 2024 Manhattan Real Estate Market Update

Real Talk NYC Real Estate

In this episode, expert NYC real estate brokers John Gasdaska and Jonathan Conlon review Corcoran's January 2024 Manhattan Real Estate Market Report and give their analysis.

In January 2024, 789 contracts were signed in Manhattan, +18% year over year and +14% month over month. Inventory continued to decrease, with 5,727 active listings representing a -5% drop year over year and a -10% drop month over month. Days on Market rose again to 170 days, a +8% change year over year and +24% increase month over month.

Last month we talked about how 2023 was a tough year for Manhattan's real estate market, but we had a lot of hope for 2024. And fortunately, that sentiment remains true - while we still have interest rates to deal with and election years are always unpredictable, all signs point toward a greatly improved market and a strong 2024.

If you have any questions at all, please don't hesitate to reach out. We'd love to hear from you.

SHOW NOTES: https://gasdaskaconlonteam.com/january-2024-manhattan-real-estate-market-report-analysis/

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