Manhattan Overview
In December, a total of 747 contracts were signed in Manhattan, a 9.78% decrease from November
These 747 signed contracts represented $1 9 billion in sales, a month-over-month decrease of 8 73%
374 signed contracts were resale coops, representing a 14 42% decrease month-over-month, with a corresponding 11 51% decrease in sales volume
Resale condo contracts totaled 202, representing a 14 77% decrease, while sales volume increased by 8 80% from November
Single-family townhouse contracts totaled 8, with a 11 24% decrease in dollar volume
The Coldwell Banker Warburg monthly trend report offers unique insights into sales performance and pricing trends in the Manhattan and Brooklyn residential markets.
In December, the market saw a 9 78% drop in contracts signed and a significant 35 97% decrease in new listings Resale condos experienced a 14 77% decline in contract activity, yet average prices surged by 27.65% and dollar volume increased by 8.80%. The resale co-op market had a 14.42% decrease in contracts signed, with average prices increasing by 3.40%, though dollar volume fell by 11 51%
Luxury properties saw a slight 4 03% drop in contracts signed and a 10 11% reduction in dollar volume New development showed a 12 70% increase in contracts signed, despite a 30.39% drop in average prices and a 13.41% decrease in average price per square foot. Single-family townhouses maintained contract numbers but experienced a 11.24% decrease in dollar volume.
Brooklyn Overview
In December, a total of 302 contracts were signed in Brooklyn, a 10.12% decrease from November
These 302 signed contracts represented $498 million in sales, a month-over-month decrease of 11 78%
56 signed contracts were resale coops, representing a 23 29% decrease month-over-month, with a corresponding 36 31% decrease in sales volume
Resale condo contracts totaled 84, representing a 13 51% increase, while sales volume increased by 1 16% from November
Single-family townhouse contracts totaled 36, with a 23 40% decrease in dollar volume
The Coldwell Banker Warburg monthly trend report offers unique insights into sales performance and pricing trends in the Manhattan and Brooklyn residential markets.
Building Type
In December, the overall contracts signed decreased by 10 12%, with an average of 131 days on the market Resale co-ops faced a decrease of 23 29% in contracts signed and a 36.31% drop in dollar volume. Resale condos experienced a 13.51% rise in contracts signed, while new listings dropped by 7.14%. There were increases in both average price per square foot and average price by 4 65% and 8 36%, respectively
Building Type
The luxury segment remained stable in contracts but saw a significant 100% increase in recorded sales, with average PPSF soaring by 24 47% In new development, contracts signed dropped by 6.86% month-over-month and saw a decrease of 8.10% in dollar volume. Singlefamily townhouses experienced a 23.40% decline in contracts signed and a 56.11% decrease in dollar volume, yet the average prices rose by 17 73%
