Market Update: September 2024
The New York City real estate market continues to show resilience as we step into fall.
Here are a few key trends:
- Inventory Levels: Inventory has slightly increased, providing buyers with more options. However, the demand remains strong, particularly in desirable neighborhoods in Manhattan and Brooklyn.
- Price Trends: Property prices are stabilizing after a period of rapid appreciation. We're seeing more balanced negotiations, making it a good time for both buyers and sellers.
- Interest Rates: As the Federal Reserve continues to navigate economic uncertainty, mortgage rates have remained relatively stable, which bodes well for potential buyers looking to secure financing.
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If you're considering buying or selling, now is a great time to reach out! Whether you're looking for your dream home or want to discuss the current market conditions, I'm here to help.