Weekly Market Update

Weekly Market Update for Manhattan and Brooklyn – February 19-25, 2024

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MANHATTAN

In Manhattan, 318 new listings entered the market last week, down 9% from the previous week, but 5% above levels for this week in 2023.

198 Manhattan contracts were signed last week, down 12% from the previous week, but slightly above levels set for this week in 2023.

Momentum is continuing to shift away from the buy side. A lack of inventory along with increased strength of demand is beginning to create a favorable pricing environment for sellers.

21 Manhattan contracts were signed at $5M and above. Condos outsold co-ops 11-7, with three townhouses in the mix.

Noteworthy new contracts last week were: 

1.) 107/108 at Central Park Tower 217 West 57th Street, asking $149M

2.) 135 EAST 79TH STREET, PH15W, asking $19.995M, 

3.) #7A at 27 WOOSTER STREET, asking $18.95M.

 

BROOKLYN

In Brooklyn, 140 new listings entered the market last week, down 18% from the previous week, but still trending closely to very light 2023 levels.

Meanwhile 118 Brooklyn listings entered contract last week, which was 6% fewer than the previous week, but above levels set in 2023. 

Noteworthy new contracts in Brooklyn were:

1.) #30C at 1 Clinton Street in Brooklyn Heights, asking $4.95M 

2.) #28C at 1 Clinton Street in Brooklyn Heights, asking $4.9M

3.) #15A at 50 Bridge Park Drive, Quay Tower, asking $4.725M

 

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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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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