The Randy Baruh Team is here with April’s market report for Manhattan and Brooklyn. As we embark on the early signs of spring in 2024, we are excited to observe, follow, and relay the current market conditions!
Brooklyn at a Glance:
to read the full report click HERE.
- 640 contracts signed
- 138 average days on market
- 3,400 inventory listings on market
- 4% average discount
Manhattan at a Glance:
to read the full report click HERE.
- 984 contracts signed
- 212 average days on market
- 6500 active listings on market
- 8% average discount
Here is the latest monthly update on the Manhattan and Brooklyn real estate markets for April 2024.
In Brooklyn, 640 contracts were signed last month, reflecting a 4.7% increase year-over-year. The average days on the market last month were 138, down almost 9% from March, with 3,400 listings on the market, up 2% from April 2023. The negotiability remains limited, with an average discount of only 4% last month.
Shifting our focus to Manhattan, April saw 984 contracts signed, a 9.6% increase from last year. The average days on the market rose to 212 days, an 8.7% increase from March 2024. In April 2024, there were 6,500 active listings on the market, an 8% increase from last month and a 4% increase year-over-year. Manhattan does have more room for negotiation, with an average discount of 8% in April.
Keep an eye out for more updates on the constantly evolving real estate landscape in New York City and more of my market insights!