Overview
In August, a total of 758 contracts were signed in Manhattan across Condos, Co-ops, and Townhouses; an overall 9 65% decrease from July
These 758 signed contracts represented $1 60B in sales, a monthover-month decrease of 8 78%
402 signed contracts were Co-ops, representing a 7 59% decline monthover-month with a corresponding 3 72% drop in sales volume
Condo contracts totaled 350, representing a 10 71% decline, while sales volume dropped by 5 55% from July
Townhouse sales showed the most significant drop in contract activity, a drop of 50% month-over-month and a corresponding 64 86% drop in sales volume
The Coldwell Banker Warburg monthly trend report offers unique insights into sales performance and pricing trends in the Manhattan residential market by segmenting sales by type of property, the number of units in a building, and the age of the building.
The number of Condo contracts signed decreased by 10 71% in August, while Co-op contract activity decreased by 7 59% The average price per square foot decreased by 5.55% for Condos and 3.72% for Co-ops (estimated).
Notably, the Townhouse market experienced a substantial 50% decrease in contract activity This decrease corresponds to a 64 86% decrease in sales volume
(estimate)
Building Size
From July to August, contract activity decreased across all building sizes The biggest decrease was in Boutique buildings, with a 12 37% drop in contracts signed and a 16.10% drop in dollar volume Contract activity for Midsize buildings decreased by 7.86%, but dollar volume increased by 8 36% month-over-month
Towers | 201+ Units
192
Midsize | 101 - 200 Units
Boutiques | 10 - 100 Units
$709M
Building Size
In August, contract activity decreased month-tomonth for all building sizes The highest drop was in Boutique buildings at 12 37%, followed by Midsize buildings at 7.86%, and Tower buildings at 2 54%
Towers (201+ Units)
Midsize (101 - 200 Units)
Boutiques (10 - 100 Units)
Building Size
In August, Towers and Boutique buildings saw a slight decrease in average price per square foot Towers saw a 3 03% decrease, while Boutique buildings saw a decrease of 5.98%. However, Midsize buildings saw an increase of 11 46% month-over-month.
Price Trend
$2,000
Towers (201+ Units)
Midsize (101 - 200 Units)
Boutiques (31 - 100 Units)
$1,500
$1,000
$0,500
$0,000
Aug2022Oct2022Dec2022Feb2023Apr2023Jun2023Aug2023Oct2023Dec2023Feb2024Apr2024Jun2024Aug2024
Building Age
Recently constructed buildings saw the most significant decrease in contracts signed at 14.05% month-over-month Pre-War buildings experienced an 8.54% decrease, followed by a decrease of 7.84% in New Construction and a decrease of 7 04% in PostWar buildings
Building Age
From July to August, the average price per square foot of Pre-war buildings increased by 8.41%. Post-war buildings experienced an 8 12% decrease, followed by a decrease of 1.56% for Recent buildings.
Price Trend
$3,000
New (After 2018)
Recent (2000 - 2018)
Post-war (1946 - 1999)
Pre-war (Before 1946)
$2,500
$2,000
$1,500
$1,000
$0,500
$0,000
Aug2022Oct2022Dec2022Feb2023Apr2023Jun2023Aug2023Oct2023Dec2023Feb2024Apr2024Jun2024Aug2024
