Weekly Market Update

Weekly Market Update for Manhattan and Brooklyn – November 6-12, 2023

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Manhattan

In Manhattan, 278 new listings entered the market last week, down 20% from the previous week.

176 contracts were signed last week, down 1.1% from the previous week.

20 Manhattan contracts were signed at $4M and above, four fewer than the previous week. Condos outsold co-ops 14-3, with one condop and two townhouses in the mix.

Noteworthy new contracts last week were The townhouse at 118 West 12th Street, asking $19.95M, and #PH17W at 135 East 79th Street, asking $19.9M.

Brooklyn

In Brooklyn, 177 new listings entered the market last week, down 24% from the previous week.

127 Brooklyn listings entered contract last week, which was 3.1% less than the previous week.

Noteworthy new contracts in Brooklyn were PH1215 at 360 Furman Street in Brooklyn Heights, asking $6.495M and the townhouse at 131 Lincoln Place in Park Slope, asking $5.999M.

New Development

NYC saw a significant increase in deal volume, with 53 contracts signed, driving the total dollar volume to $136M. However, the average price and average PPSF were lower at $2.56M and $1,744, respectively. This marked the second consecutive week of high deal volume.

Of the 53 contracts signed citywide this week, 34 (+79%) were in Manhattan, 16 (+78%) were in Brooklyn, and 3 (–40%) were in Queens.

 

 

Data for this report is deemed reliable at the time of collection, but is not guaranteed accurate. Data points were collected from ReSource, UrbanDigs, Olshan and Marketproof. 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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