Weekly Market Update

Weekly Market Update for Manhattan and Brooklyn – March 28, 2023

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In Manhattan, 458 new listings entered the market last week – the highest number of new listings in one week so far in 2023, up 7.8% from the previous week.

262 contracts were signed last week – up 4.8% from the previous week, and again, the highest number of new contracts signed in one week so far in 2023.

32 Manhattan contracts were signed at $4M and above, four more than the previous week. Condos outsold co-ops 21-8, with three townhouses in the mix. Q1 figures are projecting an on-par performance in the luxury sector against historic averages for 2023.

Noteworthy new contracts last week were two townhouses sold together by the same seller at 15 and 17 East 77th Street, asking $32.5M, and the penthouse at 993 Fifth Avenue, asking $19.95M.

In Brooklyn, 211 new listings entered the market last week, an 11.6% increase from the previous week and the second time this year we’ve seen 200 or more new listings in one week.

142 Brooklyn listings entered contract last week, which is 2 more than the previous week, but still ~50 fewer than we're used to seeing this time of year.

The average OH attendance in Brooklyn dropped this weekend to 4 per open house, from 4.95 per open house the weekend prior. 

Noteworthy new contracts signed in Brooklyn last week were the townhouse at 632 2nd Street in Park Slope, asking $4.65M, the mixed-use building at 5812 8th Ave in Sunset Park, asking $4M, and #PH3A at 98 Front Street in DUMBO, asking $3.775M.

The open house attendance throughout NYC this past weekend dropped 16% to 2.68 parties per open house, from 3.2 parties per open house on the weekend of March 19.

25.25% of all open houses in our survey recorded zero attendance. The prior weekend that number was 22.75%. 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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