Manhattan property broker, Weimin Tan, gives an overview of the current situation of the Manhattan property market. Weimin discussed a few points including the 30-year fixed mortgage rates, historical price trend, active supply, pipeline contracts which refers to contracts in the pipeline waiting to close and contracts signed where we are at the 8th week of 300+ contracts signed in a week.
Weimin also tackled Manhattan's market pulse, wherein you can see that the sentiment has changed from a buyer's market to a seller's market. Lastly, he showed that the trend right now is that buyers are into larger apartments now as a result of the pandemic.
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About:
Wei Min Tan is a Manhattan, New York property broker focusing on global investors of Manhattan condominiums. Wei Min has been interviewed by CNBC, CNN, Wall Street Journal and New York Times on the Manhattan property market. Wei Min can be reached at tan@castle-avenue.com
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