Last month 337 deals were signed in Manhattan and 913 in Brooklyn. Most were under $1M but over 50 were above the $3M mark. The Randy Baruh team personally signed the INSERT NUMBER of those contracts.
Despite overall sales activity continuing to decline, the average amount of days that a listing spends on the market has continued to drop for the eleventh month in a row, signaling that people are still willing and interested in purchasing homes.
Inventory continues to decline in both Manhattan and Brooklyn, and deals have become more prevalent. Only about 15% of deals signed were above the asking price, the lowest percentage since February 2021.
In Manhattan, the average price per square foot decreased for the first time since June 2021. In Brooklyn, the average price per square foot has decreased for co-ops. However, the overall average has increased due to an increase in price per square foot for condos.
To read the full Manhattan report, click here.
To read the full Brooklyn report, click here.
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