New York is Back, Q2 Manhattan Market Data, Impending Stock Market Correction

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New and Noteworthy

New York is Back

In case there was any doubt, New York knows resiliency. This has been proven many times, and this latest real estate cycle proves it. The market is bouncing back from the pandemic in a big way, with especially high demand for rentals and luxury sales. However, we are still experiencing an increase in inventory so buyers have options and sellers are meeting buyers at their prices. (Full Story)

Q2 Manhattan Market Data

Q2 shows a sharp increase in sales volume (+144% YoY) and average sale price (+18.5% since Q1) in Manhattan.

A mix of factors drove this including: pent-up demand, reasonable pricing, low interest rates, and an expanded pool of buyers

The luxury category ($10M-$20M) saw a steep average sales price increase driven by a hyperactive market in the UES, UWS, and downtown. (Full Report)

Impending Stock Market Correction?

Expect a 10% or worse correction in U.S. stocks by mid-August, says Hayes Martin who has a proven track record forecasting market corrections. He bases his sobering forecast on the increasing divergences within the U.S. market, as indicated by fewer stocks participating in the headline-grabbing strength of the leading indices. Market breadth hasn’t been this poor since Oct 2018. (Full Story)

Team News

We Sell When Others Can't

It's what we do.

See how we sold a completely gutted townhouse in Chelsea when no one else could. It had been on the market for over 1000 days before we took over the listing...Then we sold it in 60!

Just another example of the creative strategies we implement to get your home sold!

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Featured Listings

236 Lewis Avenue Bedford-Stuyvesant 4 Bed \| 3.5 Bath Open: 7/18 10:30AM - 12:00PM	47-55 39th Place, Unit 2E Sunnyside 1 Bed \| 1 Bath Open: 7/18 11:00am - 12:00pm
431 West 54th Street, Unit 4D Hell's Kitchen Alcove \| 1 Bath Open: 7/18 12:30pm - 1:30pm	212 South Oxford Street, Unit PHC Fort Greene 2 Bed \| 2 Bath Open: 7/18 2:00pm - 4:00pm

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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS.

New York is Back, Q2 Manhattan Market Data, Impending Stock Market Correction

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