In April, New York City's housing market proved resilient, particularly in Brooklyn and Manhattan, where new listings flourished despite financial uncertainties. Buyer activity surged, with 2,192 homes entering contracts—a 10.9% increase from last year. The market remained competitive, as homes sold faster, averaging 54 days. Brooklyn and Manhattan dominated new listings, reflecting seller confidence. Rental rates also rose, with a record median asking rent of $3,850, primarily influenced by Manhattan. Conversely, Brooklyn's inventory grew, appealing to renters priced out of Manhattan and diversifying the rental market landscape.
New York City’s real estate market exhibited resilience in April as Brooklyn and Manhattan witnessed strong buyer activity with increased for-sale listings despite financial uncertainty.
A total of 2,192 homes entered contract citywide, a 10.9% increase over April 2024, emphasizing sustained demand and buyer confidence in the housing market.
The rental market saw a citywide median asking rent rise to $3,850, driven notably by Manhattan's record-high contributions to rental price increases.
Brooklyn's rental inventory increased by 6.7%, attracting renters priced out of Manhattan, showcasing the borough's shifting appeal in New York City’s housing landscape.
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