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News & Views N•Y•C
MANHATTAN | JULY 2023
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Dear Friends, Family and Fellow New Yorkers, Happy July! The heat is on! This month I am thrilled to announce I was once again ranked as one of America’s Best 1.5% Real Estate Agents in the esteemed Real Trends Ranking. I am so appreciative for your continued business and trust throughout my career. As the city churns, we are starting to see a more normalized market emerging in the 2nd Quarter of 2023. Expanding inventory and slower sales drove days on market higher compared to last year’s low, while the median price has declined for the fourth consecutive quarter. We are entering into an incredibly dynamic market as prices and demand shift, offering a new set of advantages for both buyers and sellers alike. From the Hudson to the Hamptons and everywhere in between enjoy the summer to the fullest!
Best Wishes,
Jill Letts |
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Q2 Market Report - Here's what happened:
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- Signs of the market normalizing emerged during the second quarter of 2023.
- Market wide closings rebounded 48% quarter-over-quarter, yet declined 23% from a record second quarter in 2022.
- At 7,338 listings, inventory reached a two-year high in the second quarter of 2023, but there has been a noticeable decline in available listings in lower-cost price segments.
- Median price declined for the fourth consecutive quarter due to an expanding share of sales of homes priced under $2M.
Read More |
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Happening Around the Boroughs
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SummerStage
Capital One City Parks Foundation SummerStage is New York's largest free outdoor performing arts festival with nearly 80 shows throughout all five boroughs. With performances ranging from American pop, Latin, jazz, theater, and so much more, SummerStage has something for everyone. Check out the summer lineup at the link below.
Learn More |
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Shakespeare in the Park
A beloved New York City tradition for 61 years, Shakespeare in the Park returns with a production of Hamlet, running through Sunday, August 6th. Taking place at the open-air Delacorte Theater in Central Park, enjoy a performance from some of the most talented actors of our day. Learn how to secure your free tickets at the website below.
Learn More |
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NYC Restaurant Week
Calling all foodies! NYC Restaurant Week returns this summer for its annual celebration from July 24th through August 20th. With more options than ever before, be sure to take advantage of this prix-fixe program that allows you to indulge in some of New York City's greatest culinary establishments across all five boroughs. Begin booking reservations starting July 6th at the link below.
Learn More |
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Jill's Just Sold, In Contract, & Active Listings
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Just Sold Properties: Active: Contract Signed: Fireman Joe's Fire Safety Tip "Talk with all family members about a fire escape plan and practice the plan twice a year." Thinking about buying, selling or renting? Let’s Chat!
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Real estate agents affiliated with The Corcoran Group are independent contractors and are not employees of The Corcoran Group. The Corcoran Group is a licensed real estate broker located at 590 Madison Ave, NY, NY 10022. All information herein is intended for information purposes only and has been compiled from sources deemed reliable, but Corcoran makes not warranty or representation as to the accuracy thereof. All dimensions provided are approximate. To obtain exact dimensions, Corcoran advises you to hire a qualified architect or engineer. Equal Housing Opportunity. ©2023 The Corcoran Group. All Rights Reserved.
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