New York City experienced immense year-over-year growth in homes entering contract in November 2024, leading to a drop in available inventory, according to a report by the real estate listing site StreetEasy.

Over this period, there was a 25.1% increase in homes entering contracts across New York City, from 1,470 in November 2023 to 1,838 in November 2024. Mortgage rates also dropped during this span, helping to attract more buyers to the city’s market.

Due to the large jump in contract signings from the previous year, inventory has dropped 5.3%, from 17,476 in November 2023 to 16,549 in November 2024.

Manhattan had the most homes to enter a contract in November 2024 among the boroughs examined in the report, with 848. This amounted to almost as many contracts as Brooklyn (534) and Queens (346) combined. Additionally, Manhattan dominated the market for luxury homes, defined as the top 10% in terms of price among listings, to go into contract. Of the 92 luxury home listings in New York City in November 2024, 82 of them were in Manhattan.

Over the course of the fall months – September through November – Queens experienced a big boost in new listings in 2024, up 9.7%. Over this period of time, new listings in Queens rose from 1,626 in 2023 to 1,783 in 2024. Such a large influx of new listings in this borough suggests more opportunities for buyers. A large increase in condos across the borough, especially in Long Island City, Flushing and Astoria, has played a big role in the trends for new listings in Queens. These three neighborhoods accounted for 426 of the 569 condo units listed in Queens from September to November 2024.

Throughout these fall months, Brooklyn had by far the most competitive sales markets among the boroughs, with Brooklyn neighborhoods accounting for nine of the ten most competitive sales markets in the city. This trend is thanks in large part to a declining inventory across these months, down 9.2% from 4,534 in 2023 to 4,116 in 2024.

A PROMINENT LUXURY REAL ESTATE brokerage with a long history in the five boroughs has leased an office in a DUMBO co-working space.

The post Coldwell Banker Warburg leases office space in DUMBO appeared first on Brooklyn Eagle.

Cops are looking for a creep who attacked and sexually assaulted a woman in Brooklyn on Thursday.

According to police, at 2:13 a.m. on Jan. 2, a 22-year-old woman was approached by an unknown man near Herkimer Street and Saratoga Avenue. The man proceeded to punch the woman multiple times in the face, push her to the ground and strangled her before sexually assaulting her.

The suspect then fled the scene on foot to parts unknown. The victim was taken to Interfaith Medical Center by private means in stable condition.

The suspect is described by police as a man with a heavy build and dark complexion. He was last seen wearing a yellow vest, a black hooded sweater, and black pants.

Anyone with information regarding this incident is asked to call the NYPD’s Crime Stoppers Hotline at 1-800-577-TIPS (8477) or for Spanish, 1-888-57-PISTA (74782). The public can also submit their tips by logging onto the Crime Stoppers website or on X @NYPDTips. All calls are strictly confidential.