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2017 Off to a Good Start – But Watch Out For Condo YoY Price Trends Posted by Noah Rosenblatt in Current Events

Discussing Manhattan real estate trends is a two-tiered science: there is what is happening right now in the field, let’s call that real-time, and then there is the sales data telling us of price trends, which is lagging by about 4-6 months. Sometimes the two things tell you completely different things, so its important that the professional agents out there educate their clients on this dynamic. Right now happens to be one of those times where the real-time data is starting to show a pickup in activity as the upcoming sales reports are likely to show a cooling down – …

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Manhattan’s 2016 Narrative – 5 Main Themes to Know Posted by Noah Rosenblatt in Current Events

2016, the year of normalization… After five straight years of progressive reflation in Manhattan residential real estate (2010-2015), buyers finally saw the leverage pendulum swing their way. Of course, just how much leverage a buyer gained still heavily depends on the price point. What’s happening at the high end is drastically different than what’s happening at the lower end. Lets discuss before the firms Q4 market reports are released.…

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Navigating Manhattan’s CONDO Market Posted by Noah Rosenblatt in Uncategorized

Wanted to dig into the trends of the Manhattan Condo market as a few dynamics are at play that may cause some confusion when interpreting the data; mainly the impact from a surge of Luxury New Development closings that hit in the first quarter. …

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Manhattan Mid-Year Grades | Depends on the Price Point Posted by Noah Rosenblatt in Current Events

So how is the mysterious Manhattan marketplace doing for the first half of 2016? As an overall market-wide grade, I give it a B-; call it slightly below average. We aren’t failing or anything like that but we certainly aren’t blowing away old volume records either. We are kind of chugging along after getting hit in the head with a 2 by 4 last Fall.…

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Manhattan Days on Market? It’s a ‘Price Point’ Specific Kind of Question Posted by Noah Rosenblatt in Uncategorized

Wanted to share a new toy I got on my development machine. When we push out our next site wide iteration our chart rooms will allow users to select multiple price points – so that we can more accurately chart out all the metrics we need to track a hyperlocal marketplace. The last 18 months has proven that Manhattan is very much a price point specific marketplace; and its both worthy & valid for producers and consumers to have access to this added layer of transparency. In short, whats going on in the low end is much different than whats …

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UrbanDigs Manhattan Performance (Time) Index – Where Are We Now? Posted by Noah Rosenblatt in Uncategorized

I’ve been getting slammed with questions from brokers seeking clarity on how the Manhattan markets are handling the recent rise in global markets’ volatility in terms of price action. This is always a tricky element to nail down simply due to the fact that price discovery on deals signed today take 3-5+ months to filter through the system and become publicly available for analysis. What gets signed today takes 2-3 months to close + another 2 weeks to few months for the City Register (ACRIS) to file the transaction in public records. This means that fresh sales data we see …

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Update to our “Contracts Signed” Listing State Algos Posted by Noah Rosenblatt in Uncategorized

We are in the process of launching some exciting new products early next year and one thing that we discovered as that development continues was a required update to how our flow algorithms define a listing’s proper status for contracts signed updates within the RLS (Manhattan’s broker sharing system). We pushed this update over the weekend and it will impact 3 of the 14 UD charts in our Chart Room: Pending Sales, Monthly Contract Activity & the Volatility Index (which is a real-time ratio supply and pending sales trends). No other charts were affected by this status flow algorithm update. …

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October in the Books: Manhattan Insights as we Close out 2015 Posted by Noah Rosenblatt in Uncategorized

ppsf-manhha

I wanted to wait for October to be “in the books” before writing this piece simply because September was such a low volume month that it didnt warrant coming to any knee-jerk conclusions until the markets had more time to play out the uncertainties and risks.  The wave that hit stock markets & credit markets in July/Aug seems to have passed and volatility in general has plunged – remember, it takes a while for this to impact Manhattan buyers and it also takes a while for them to forget the “risks” that existed only a few months ago! So, while …

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Q3 Fact: 49% of Manhattan Properties Trade AT or ABOVE Asking Price Posted by Noah Rosenblatt in Current Events

sales-over-ask

How do I know this you ask quietly to yourself? Because we at UrbanDigs.com just built an awesome new chart that lets us quantify how many recently sold properties traded above the asking price, at the asking price, and below the asking price! Transparency is a good thing & Manhattan real estate is about to get way more transparent for both consumers and professionals in the near future. Lets discuss.…

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Manhattan August Contract Activity – ‘Sluggish’ Posted by Noah Rosenblatt in Uncategorized

Given the uncertainty in financial markets coupled with seasonal slowness typical for this time of year, Manhattan’s August contract activity came in at 655 today, down 17% from the same period in 2014. The sluggish number shouldn’t be a surprise as in times of uncertainty buyers either pause or adjust bids lower. One month does not a trend make but it’s times like these we should be focused on “the data” more than ever! Lets get to the charts.…

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