Overview
In September, a total of 670 contracts were signed in Manhattan across Condos, Co-ops, and Townhouses; an overall 11 73% decrease from August
These 670 signed contracts represented $1 58B in sales, a monthover-month decrease of 1 00%
341 signed contracts were Co-ops, representing a 15 17% decline monthover-month with a corresponding 14 80% drop in sales volume
Condo contracts totaled 315, representing a 10 26% decline, while sales volume increased by 0 45% from August
Townhouse sales showed the most significant increase in contract activity, an increase of 133 33% month-overmonth and a corresponding 165 16% increase in sales volume
AboutThe 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 Co-op contracts signed decreased by 15 17% in September, while Condo contract activity decreased by 10 26% The average price per square foot decreased by 3.07% for Co-ops and increased 5.88% for Condos.
Notably, the Townhouse market experienced a substantial 133 33% increase in contract activity This increase corresponds to a 165 16% increase in
Building Size
The biggest decrease in contract activity in September was in Tower buildings, with a 20 73% drop in contracts signed and a 22 98% drop in dollar volume. Contract activity for Midsize buildings decreased by 19 91% and dollar volume decreased 34.91% month-over-month. Boutique buildings saw a decrease of 1 53% However, the dollar volume increased by 22 74%
Towers | 201+ Units
Midsize | 101 - 200 Units
Boutiques | 10 - 100 Units Contracts 321
Building Size
In September, contract activity decreased month-to-month for all building sizes The highest drop was in Tower buildings at 20 73%, followed by Midsize buildings at 19.91%, and Boutique buildings at 1 53%
Building Size
In September, Boutique and Tower buildings saw a slight increase in average price per square foot Boutique buildings saw a 6 97% increase, while Tower buildings saw an increase of 0.53%.
However, Midsize buildings saw a decrese of 4.99% 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
Sep, 2022 Nov, 2022 Jan, 2023 Mar, 2023 May, 2023Jul,2023Sep,2023Nov,2023Jan,2024Mar,2024May,2024Jul,2024Sep,2024
Recently constructed buildings saw the most significant decrease in contracts signed at 28.85% month-over-month Post-War buildings experienced an 19.17% decrease, followed by a decrease of 10.03% in Pre-War buildings and a decrease of 4 26% in New buildings
Building Age
From August to September, the average price per square foot of Post-War and New buildings increased by 6.37% and 0.96% respectively. Recent buildings experienced a 4 61% decrease, followed by a decrease of 1.87% for Pre-War buildings
Price Trend
$3,000
New (After 2018)
Recent (2000 - 2018)
Post-war (1946 - 1999)
Pre-war (Before 1946)
$2,500
$2,000
$1,000 $1,500
$0,500
$0,000
Sep, 2022 Nov, 2022 Jan, 2023 Mar, 2023 May, 2023Jul,2023Sep,2023Nov,2023Jan,2024Mar,2024May,2024Jul,2024Sep,2024
