According to the latest report from listings site Streeteasy, Manhattan inventory rose 16% year over year with the largest uptick in inventory being the Upper East side. On the Upper East side, the inventory increased 20.2%. According to their analysis which is consistent with what I am observing in the field, 16% of the homes on the market received discounts which is an increase year over year of 3.6%.
Recently, I showed a client a couple of townhouses in Harlem and one had an original ask of $2.99 and now is down to $2.3 million and another started at $2.75 million and now is down to $2.25 million.
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.