Manhattan Real Estate Market Shifts in Favor of Buyers as Sales Slow, Luxury Deals Decline
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Manhattan's real estate market is shifting in favor of buyers due to declining sales activity, fewer luxury deals, and lower listing success rates.
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Sellers are challenged by lagging sales data that doesn't reflect the current market conditions.
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With lower liquidity and more competition, sellers are becoming more likely to offer discounts and be flexible in negotiations.
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Motivated buyers can find value in today's market by being assertive yet pragmatic in bidding and negotiations.
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Both buyers and sellers need to closely monitor emerging local market trends and remain nimble in their strategies.