Weekly Market Update

Weekly Market Update for Manhattan and Brooklyn – October 15-21, 2023

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In Manhattan, 392 new listings entered the market last week, up 16% from the previous week. The rate of weekly new listings is still trending just slightly below 2021 and 2022 levels.

186 contracts were signed last week, up 24% from the previous week, but still below average (~200). 

19 Manhattan contracts were signed at $4M and above, three more than the previous week. Condos outsold co-ops 13-3, with three townhouses in the mix.

Noteworthy new contracts last week were #2ABC at 1016 Fifth Avenue, asking $29.5M, and the townhouse at 24 West 10th Street, asking $22.5M.

In Brooklyn, 178 new listings entered the market last week, down 13% from the previous week. The rate of weekly new listings in Brooklyn is slipping below 2022, and well below 2021 levels.

118 Brooklyn listings entered contract last week, which was 2.5% lower than the previous week. The rate of weekly new listings in Brooklyn is trending below 2022 and very far below 2021 levels.

Noteworthy new contracts in Brooklyn were the townhouse at 236 Degraw Street in Carroll Gardens, asking $6.75M and the townhouse at 88 Joralemon Street in Brooklyn Heights, asking $4.995M.

 

Data for this report is deemed reliable at the time of collection, but is not guaranteed accurate. Data points were collected from ReSource. Analysis and conclusions are subject to errors, omissions and revisions.

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