After controlling the Manhattan housing market for quite a while, sellers and landlords exchanged roles with buyers and tenants circa 2015.
After peaking in 3Q 2015, the market share of bidding wars fell by two thirds. Bidding wars remain more common at lower price points. After bottoming in the 3Q 2015, the market share of rentals with landlord concessions has expanded sharply due to high-end rental development over-building. But like the sales market, the oversupply remains at the upper end.
Sunday, December 31, 2017, was a trifecta of my New York Times Real Estate market insight goodness before the year ended:
Landlords and Sellers Adjust [New York Times: Calculator column]
Manhattan Prices Stable in 2017, Even as Luxury Takes a Breather [New York Times: Big Ticket column]
Ditching the Tub [New York Times]