We’re officially right in the middle of Summer and hope you're enjoying every second of the sunshine and warmth. The real estate market remains quite hot as well. Even in the middle of summer the real estate market never takes a vacation! Read on for everything you should know about the real estate market and fun events happening in the city this July.
In the meantime, take this opportunity to visit a park, soak up the warm Summer weather, maybe explore a neighborhood you don't know that well.
As always, please feel free to approach me with any questions you may have or with any of your real estate goals.
DB
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Demand climbed from the prior week. Although we are certainly feeling a summer slow-down and certain buyers pause due to interest rate changes, we have also seen an uptick in out of town buyers (American out-of-towners and also international buyers), which we have not seen in much strength since the pandemic. This could be helping the contract activity stay elevated.
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New listings were down from the week before which is typical going into a holiday weekend, but somewhat unexpectedly overall supply good a meaningful dip from previous weeks. Seller’s might be choosing to pull properties for the summer and retest the market in the fall when buyer activity generally picks back up.
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Are We Nearing The End Of The Seller Market In New York City Real Estate?
The Manhattan real estate market remains very competitive. Monthly contract activity is still running 30% above seasonal averages, with monthly new supply running almost 25% above typical levels. After a year-plus buying frenzy, the market is showing signs that it may be slowing down. Demand appears to be moving from white-hot to red-hot, suggesting that Manhattan may be moving from a seller’s market toward a more stabilized market.
At the same time that sellers are finally stepping up, buyers might be ready to take a breather. It might not look like much, and it’s certainly not a trend yet, but the number of contracts signed in April 2022 was lower than in March 2022.
They were also lower than those in March and April 2021. April and May are typically the biggest months for signed contracts, and the expectation is that the number of contracts would rise, not fall, from March into April. So, a dip now, albeit slight, suggests that Manhattan’s buying frenzy may be settling down to more typical levels.
Granted, buy-side activity remains about 30% higher than usual, but since new listings are also coming in at an elevated rate.
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307 West 20th Street, Unit 4F
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236 East 6th Street, Unit 2W
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423 Atlantic Avenue, Unit 4M
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1380 S Ocean Blvd # 2203 Pompano Beach, Fl 33062
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2 Beds | 3 Baths + Den
Interior: 1,973 F Exterior: 444 SF Total: 2,417 SF
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1380 S Ocean Blvd #2202 Pompano Beach, Fl 33062
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3 Beds | 4 Baths + Den
Interior: 2,764 SF Exterior: 580 SF Total: 3,344 SF
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1380 S Ocean Blvd SKY #2401 Pompano Beach, Fl 33062
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4/5 Beds | 5 Baths
Interior: 4,850 SF Exterior: 1,227 SF Total: 6,077 SF
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1380 S Ocean Blvd #806 Pompano Beach, Fl 33062
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1 Beds | 1.5 Baths
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nterior: 906 SF Exterior: 263 SF Total: 1,169 SF
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1380 S Ocean Blvd #605 Pompano Beach, Fl 33062
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2 Beds | 2.5 Baths
Interior: 1,492 SF Exterior: 397 SF Total: 1,889 SF
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1380 S Ocean Blvd #1109 Pompano Beach, Fl 33062
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2 Beds | 2.5 Baths
Interior: 1,486 SF Exterior: 394 SF Total: 1,880 SF
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THE RESIDENCES
• 115 residences ranging from 1,309 sq ft to 4,850 sq ft
•Spacious floorplans boasting ocean, city and Intracoastal views
• All residence delivered fully-finished including flooring, kitchens & bathrooms
• Private elevator lobby for each residence
• Service elevators
• Italian designed kitchens with top-of-the-line appliances
• Walk-in closets in all master bedrooms
• Laundry rooms with full-size washer and drye
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• Prewired for high-speed internet access and WiFi
• THG Paris bathroom faucets
• Restaurant bar & grill with indoor & outdoor seating areas
•Open lounge area on the beach with chaise lounges
• Beach storage
• Food & beverage service
• Two oceanfront infinity pools
•Private cabanas available for sale
• Private poolside cabanas available for day use
• Food & beverage service
• Oceanfront infinity pool sunken lounge
• Lush Gardens including covered pavilion & fire pit
• Outdoor fitness area & meditation area
• Drop-off & arrival experience with impressive porte-cochère
• Reception & concierge desk
• Signature Lissoni sculptural staircase
• Clubroom – multipurpose social event space with prep kitchen
• Library & breakfast room
• Business center on the 3rd floor
• Oceanfront fitness center with juice bar
• Beauty salon & barbershop
• His & hers spa with locker rooms, sauna, steam room, vitality pool and relaxation lounge
• Business center with private offices, conference room and coffee bar
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© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC
Not intended to solicit currently listed property. © Compass Florida, LLC. Equal Housing Opportunity. All information furnished regarding property for sale or rent or regarding financing is from sources deemed reliable, but Compass makes no warranty or representation as to the accuracy thereof. All property information is presented subject to errors, omissions, price changes, changed property conditions, and withdrawal of the property from the market, without notice. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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