On Thursday, the National Association of Realtors releases its report on existing-home sales for July. But what are New York City realtors seeing first-hand? Summer is typically a slow season for New York real estate, but that does not necessarily mean there is that much less demand for properties in one of the world’s most renown cities. It is a summer of ripe demand and tight supply in the New York City real estate market. Average prices continue to march higher, skewed by luxury apartment sales. But where is all of the inventory? Here is a snapshot of the Manhattan housing market, from the vantage point of real estate agents on the ground and insights from executives at Douglas Elliman and BOND New York.
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