Momentum is the positive energy that builds with every move forward, turning progress into propulsion and effort into ongoing success.
In real estate, just like in life, objects in motion tend to remain in motion. The best moves often come when you align your momentum with opportunity.
Whether you’re looking to rent or buy, the decision rarely rests solely on spreadsheets or square footage. It’s that feeling, an alignment between where you are and where you’re headed, that drives the best real estate choices. But momentum doesn’t mean chaos. With the right agent, emotional insight and smart strategy can work hand in hand.
Let’s check in with the market and see where we are in terms of sentiment, energy, and movement.
Manhattan Sales Market:
There are currently 6,816 homes for sale, down 7.3% from last month. Monthly contract activity for June had 973 contracts signed, down 6.1% from the previous month. Signed Contracts were up 3.1% from last year. Pending Sales are up 3.5% month-over-month and up 19.1% year-over-year.
What This Means for Buyers:
The summer season is historically a slower time for sales, so we anticipate further month-over-month declines in contract activity once the July data are printed. This said, there are several indicators showing a robust sales market with plenty of growth ahead. These include the aforementioned increase in signed contracts from last year, as well as the month-over-month and year-over-year increase in pending sales. Plus, the increase in rents, which we will discuss shortly, may be a leading indicator of sales prices going up. Now could be an ideal time to secure a deal, as we anticipate an even stronger sales market emerging in September.
Manhattan Rental Market:
The average rental price of $5,450 is up 1.3% compared to last month and up 7% from last year. New lease signings are up 7.4% month-over-month. Listing inventory is down 12.4% from last month and up 4.4% year-over-year. The FARE Act took effect on June 11th, and this data covers the full month of June. We expect listed inventory to tighten further and to see average rents rise as more data are printed.
What This Means for Renters:
The rental market is tightening, with rents already well above last year’s levels. The new legislation adds complexity for renters, landlords, and agents. Locking in a lease now may help avoid further price hikes as we venture further into the peak rental season.
Final Thoughts:
Momentum + Strategy = Opportunity
Change is constant. But when you move with intention, you don’t just ride the wave, you shape your direction. Whether buying or renting, now is a time to align your next step with the current of the market.
We’re here to help you keep moving; with clarity, with confidence, and with purpose.
