Weekly Market Update

Weekly Market Update for Manhattan and Brooklyn – April 29-May 5, 2024

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MANHATTAN

 

In Manhattan, 471 new listings entered the market last week, up 10% from the previous week. This velocity is expected to continue through the end of May.

202 Manhattan contracts were signed last week, down 11% from the previous week. Contract volume is still trending just under 2019 levels.

26 Manhattan contracts were signed at $5M and above. Condos outsold co-ops 18-4, with one condop and three townhouses in the mix.

Noteworthy new contracts last week were: 

1.) One High Line 500 West 18th Street #25D, asking $13.77M.

2.) The townhouse at 5 East 10th Street, asking $12.995M.

3.) 44 East 82nd Street, asking $11.25M.

 

BROOKLYN

 

In Brooklyn, 235 new listings entered the market last week, up 17% from the previous week.

Meanwhile 135 Brooklyn listings entered contract last week, which was 5% fewer than the previous week. The spring season in Brooklyn is indeed very soft relative to recent years past.

Noteworthy new contracts in Brooklyn were:

1.) The townhouse at 163 State Street in Brooklyn Heights, asking $6.95M

2.) 146 Hicks Street in Brooklyn Heights, asking $6.795M

3.) The townhouse at 176 Warren Street in Cobble Hill, asking $5.8M

 

Data for this report is deemed reliable at the time of collection, but is not guaranteed accurate. Data points were collected from ReSource and Urbandigs. Analysis and conclusions are subject to errors, omissions and revisions.

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