Manhattan Home Sales Slow, Rent Growth Continues

The Manhattan housing market is seeing lower sale prices and a slowdown in demand, but rents in the city are still going up.

1 minute read

October 5, 2022, 5:00 AM PDT

By Diana Ionescu @aworkoffiction

ROw of historic New York City brownstone homes

Brian Goodman / A rown of Manhatan brownstone homes

Following a national trend, the housing market in Manhattan is starting to cool, Jennifer Epstein reports for Bloomberg. In the third quarter of 2022, “The median price on transactions completed slipped 7.6% to $1.15 million from the second quarter,” according to the article.

Sales also slowed. “The number of Manhattan homes entering contract in September was down roughly 32% from a year earlier, the sixth consecutive month of year-over-year decreases.”

Manhattan rents, meanwhile, remain stubbornly on the rise, with median rent for a two-bedroom in reaching $3,804 in August, a growth of more than 25 percent since August 2019.

FULL STORY: Manhattan’s Housing Market Is Starting to Cool With Sales Stalling

Monday, October 3, 2022 in Bloomberg

Housing New York Manhattan New York City Housing Costs Housing Market Rent Home Prices View More

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