Weekly Market Update

Weekly Market Update for Manhattan and Brooklyn – February 26-March 3, 2024

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MANHATTAN

In Manhattan, 409 new listings entered the market last week, up 28% from the previous week, but 5% below the level for this week in 2023.

219 Manhattan contracts were signed last week, up 11% from the previous week, but slightly below the level 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.

18 Manhattan contracts were signed at $5M and above. Condos outsold co-ops 10-3, with one condop and four townhouses in the mix.

Noteworthy new contracts last week were: 

1.) 778 Park Avenue, 9th Floor asking $20M

2.) The townhouse at 14 East 81st Street, asking $19.995M, 

3.) #69W at Central Park Tower 217 West 57th Street, asking $19.5M.

 

BROOKLYN

In Brooklyn, 196 new listings entered the market last week, up 39% from the previous week, but still trending closely to very light 2023 levels.

Meanwhile 121 Brooklyn listings entered contract last week, which was three more than the previous week, and on par with the level set in 2023. 

Noteworthy new contracts in Brooklyn were:

1.) The townhouse at 21 Prospect Park West in Park Slope, asking $7.75M 

2.) #15A at 50 Bridge Park Drive, Quay Tower, asking $4.725M

3.) The townhouse at 515 8th Street in Park Slope, asking $3.999M

 

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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