The Randy Baruh Team is here with July's market report for Manhattan and Brooklyn. As we continue the summer season of 2024, we are excited to observe, follow, and relay the current market conditions!
Brooklyn at a Glance:
to read the full report, click HERE.
- 518 contracts signed
- 133 average days on market
- 3,326 listings on market
- 3% average discount
Manhattan at a Glance:
to read the full report, click HERE.
- 788 contracts signed
- 190 days on market
- 6,487 listings on market
- 7% average discount
Here's the scoop on the Manhattan and Brooklyn real estate markets for May 2024!
In Brooklyn, 518 contracts were signed last month, a 6.5% dip year-over-year. Last month's average of 133 days on the market was down 9.5% from June. Inventory is still tight with 3,326 listings on the market, up a bit by 2.5% from July 2023. Deals are still tight, with an average discount of only 3% last month.
Turning our attention to Manhattan, July saw 788 contracts signed, 3.1% lower than last year. Average days on the market jumped up to 190 days, increasing 2.2% from June 2024. In July 2024, there were 6,487 active listings on the market, a 3.6% drop from last month, and up 6.2% year-over-year. Manhattan does have more room for negotiation, with an average discount of 7% in July.
Stay tuned for more updates on the ever-evolving New York real estate landscape. Like and follow for more of my market insights!