Weekly Market Update

Weekly Market Update for Manhattan and Brooklyn – April 4, 2023

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In Manhattan, 389 new listings entered the market last week – the highest number of new listings in one week so far in 2023, down 15% from the previous week, but only slight light below trend for the past four weeks.

263 contracts were signed last week – up one contract from the previous week, and again, the highest number of new contracts signed in one week so far in 2023.

34 Manhattan contracts were signed at $4M and above, two more than the previous week. Condos outsold co-ops 23-3, with eight townhouses in the mix.

Noteworthy new contracts last week were the townhouse at 7 Sutton Square, asking $29.5M, and the townhouse at 14 East 69th Street, asking $26.5M.

In Brooklyn, 216 new listings entered the market last week, a .9% increase from the previous week and the third time this year we’ve seen 200 or more new listings in one week.

170 Brooklyn listings entered contract last week, which is 16% higher than the previous week and the highest number of new Brooklyn contracts signed in one week in 2023.

Average OH attendance in Brooklyn increased 2.25 this weekend to 4.09  per open house, from 4 per open house the weekend prior. 

Noteworthy new contracts signed in Brooklyn last week were the townhouse at 469 Henry Street in Cobble Hill, asking $11M, the townhouse at 854 President Street in Park Slope, asking $5.6M, and the townhouse at 300 Prospect Place in Prospect Heights, asking $5.295M.

Open house attendance throughout NYC this past weekend increased by 4.6% from the previous weekend, with an average of 2.81 parties per open house.

28% of all open houses in our survey recorded zero attendance. The prior weekend that number was 25%. For perspective, on the weekend of December 18 39% of all open houses recorded zero attendance.

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

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With decades of expertise in Manhattan and Brooklyn, Brandon Mason looks forward to providing you with a real estate experience that is second to none. Feel free to explore our website, and contact Brandon with any questions you may have.

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