Weekly Market Update

Weekly Market Update for Manhattan and Brooklyn – May 2, 2023

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In Manhattan, 421 new listings entered the market last week, down 24% from the previous week but in line with the week before, and other prior weeks going back to February.

216 contracts were signed last week, down 15% from the previous week and in line with the beginning of the weekly seasonal slope down we’re used to seeing in contract volume this time of year.

27 Manhattan contracts were signed at $4M and above, five fewer than the previous week. Condos outsold co-ops 16-5, with six townhouses in the mix.

Noteworthy new contracts last week were #WPH34A at 500 West 18th Street, asking $28M, and the penthouse at 45 East 74th Street, asking $26.5M.

In Brooklyn, 228 new listings entered the market last week, down 13% from the previous week but in line with the week before, and other prior weeks going back to February.

153 Brooklyn listings entered contract last week, which is 12% lower than the previous week and and in line with the beginning of the weekly seasonal slope down we’re used to seeing in contract volume this time of year.

Noteworthy new contracts in Brooklyn were the town house at 626 Sixth Street in Park Slope, asking $5.35M and multifamily building at 51 Tompkins Place in Cobble Hill, asking $4.9M.

Average OH attendance in Brooklyn decreased 26% this weekend to 3.18 per open house, from 5.16 per open house the weekend prior. 

Open house attendance throughout NYC this past weekend decreased by 22% from the previous weekend of April 15-16, with an average of 2.84 parties per open house–mostly due to the cold, rainy weather.

 

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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