As the most populated borough of New York City, Manhattan overflows with great recreation and lofty homes. Manhattan real estate offers a mix of waterfront properties and amenity-rich locations. Visitors can stick around and catch a show on Broadway, admire world-renowned museums, or reserve a seat at high-end restaurants featuring international cuisine. Before starting your search for homes in the area, here’s what to know about local market trends.

Currently, Manhattan’s housing market is slowing down. The number of home transactions is down 32 percent compared to last year. This indicates there are fewer buyers on the market. The median sale price also dipped eight percent compared to last year. This puts less pressure on buyers searching. Even so, Manhattan is New York City’s highest-priced borough. Keep this in mind when starting your search.

The long island of Manhattan is bordered by the East River to the east, the Hudson River to the west, and Harlem to the north. In total, it encompasses 22.83 square miles and has five districts: Lower Manhattan, Midtown Manhattan, Upper Manhattan, Harlem, and Washington Heights. Given its booming population and opportunities, it operates as New York City’s economic center and cultural hotspot.

There are many higher education opportunities within Manhattan. These include top universities like Columbia University, Fordham College at Lincoln Center, New York Institute of Technology, and The Juilliard School. This New York City borough is also significant for being the home of the United Nations headquarters and Wall Street.

Manhattan’s districts have many great neighborhoods next to well-known attractions. Those looking for Manhattan homes for sale are next to the Empire State Building, Times Square, and Rockefeller Center. Read the highlights of Manhattan’s top communities below.

This neighborhood was home to the beat-poets and popular musicians. The younger demographic enjoys a lively nightlife with live theater and comedy performances. Residents can also escape into West Village’s charm and history.

This neighborhood is rich in art and culture. Residents can visit galleries of established and emerging talent. In addition, outdoor recreations and attractions are influenced by the neighborhood’s artistic leanings. Visit a park built on an elevated railroad track or explore its buzzing nightlife.

SoHo is an abbreviation of South of Houston Street. Once popular for its art in the 70s and 80s, SoHo is now known for its prime shopping. Residents live near galleries, luxury boutiques, and elegant hotels.

When looking for Manhattan real estate with a waterfront view, start with the high-end lofts at Tribeca. The Hudson River looks out to the west and serves as a backdrop to notable restaurants and entertainment. This neighborhood also hosts the global Tribeca Film Festival.

This upscale neighborhood was home to President Roosevelt, Oscar Wilde, and James Cagney. Those who live here have exclusive access to Gramercy Park, a gardened haven. Live entertainment abounds at the Gramercy Theatre and the Jazz Standard.

Manhattan features an array of live performances, popular attractions, and shopping.  Entertainment in the city is practically synonymous with Broadway, the diagonal thoroughfare home to renowned theaters. Watching a show at one of its theaters is a must. Buyers searching for Manhattan homes for sale can also find Times Square, shops, restaurants, bars, and independent movie theaters along its three-mile stretch.

Although a bustling cityscape, there are plenty of ways to escape into the outdoors. Cool off by the water at The Battery. This 25-acre waterfront park is the borough’s largest public open space. Catch an open-air concert, visit manicured gardens, or ride the SeaGlass carousel. Manhattan has many other parks, including Central Park, Riverside Park, High Rock Park, and Madison Square Park.

Manhattan is rich with culture and history. Residents are right next to national institutions like the American Museum of Natural History. Visitors here receive a comprehensive field guide to the planet’s natural environments, global cultures, and the wider universe. The MET is another renowned museum for its vast exhibits of global artwork. Guests have access to exclusive and rare displays chronicling human history. Other popular museums include the Museum of Modern Art and the Solomon R. Guggenheim Museum.

Manhattan elevates global cuisine into its best iterations. Wildair is a minimalist boutique featuring small plates celebrating the esoteric and labor-intensive. Enjoy the night out with a plate of steak tartare paired with a savory walnut pesto and salty chip crunch. Restaurants like Crown Shy blend local seasonal offerings with fine dining technique, resulting in a unique neighborhood luxury. Entrées are elevated within the breathtaking Art Deco venue.

Manhattan is packed with luxury retail across all its neighborhoods. SoHo offers 25 blocks of premium shopping. Explore its mix of luxury designers, boutiques, and department stores. The furniture and trinket offerings of The MOMA Design Store are unlike any other, while retail beasts like Uniqlo provide high-quality staples.

Fifth Avenue is another prominent shopping district in Manhattan. This large thoroughfare is capped to the north by Washington Square Park and travels down to Greenwich Village and Harlem. Luxury brands vie for the spotlight in this expensive district. Other popular shopping spots include Madison Avenue, Nolita (North of Little Italy), The West Village, Union Square, and The Meatpacking District in Chelsea.

Manhattan is the place to be if you’re interested in living in the center of it all. Spend a day marveling at popular attractions or get lost in its many parks. Residents have prime access to quality entertainment and shopping in areas like Broadway and Fifth Avenue. To decide which neighborhood is the best fit, work with an agent local to Manhattan. They can offer detailed insight to all the city’s highlights. If you need help starting your home search, contact experienced local agent Monica Novo to guide you through it.