Q2 2018 Manhattan Market Report
We are excited to announce the release of the Compass 2Q 2018 Manhattan Quarterly Market Insights Report. This report highlights the prevailing trends shaping the market for each neighborhood of Manhattan.
Inventory levels reached new peaks in 2Q 2018 as buyers at most price points, especially those contemplating homes in the $1M - $3M segment, exhibited patience as a result of numerous factors: (1) the recent tax reform that reduces deductibility of state and local taxes, including property tax in New York, (2) gradually rising interest rates, which directly reduces affordability for leveraged purchasers, and (3) awareness of potential market weakness / perceived over-supply in the core luxury market.
Click here for the full report.