Manhattan real estate market stabilizes

Several reports are out that are pointing to the stabilization of the real estate market and increasing inventory. In the reports, larger coops on the Upper East side are staying longer on the market- sometimes 6,9 months or one year. At the entry levels, generally consider below $2 mm, inventory still remains tight and brokers are saying that there is still pent up demand.

Naftali Group's UWS condo which launched last year with prices starting at $4.9mm and didn't sell any units so pulled them off the market.
Naftali Group’s UWS condo which launched last year with prices starting at $4.9mm and didn’t sell any units so pulled them off the market.

With over 6000 units in the development pipeline or new to the market in 2015, it seems that all segments of the market will see some relief.

 

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