WWW.CBWARBURG.COM FEBRUARY Manhattan Market
Report
Trend
About
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 the type of property, the number of units in a building, and the age of the building.
2
ANALYSIS
Condos
Co-ops
460
Con
Townhouses
Con
February saw a rise in the total number of contracts
Manhattan, with co-ops achieving the most significant month-over-month increase at 28%
Condos commanded the highest price at $1,880 per
square foot. Across condos, co-ops, and townhouses there was over $1.9B of sales.
+16% Month-over-month -3% Month-over-month Contracts
Price / SF $1,880 Dollar Volume $1.1B +2% Month-over-month +28% Month-over-month +0% Month-over-month
333
tracts
Price / SF $1,169 Dollar Volume $689M +30% Month-over-month +15% Month-over-month +5% Month-over-month
tracts 15 Price / SF $1,684 Dollar Volume $158M +27% Month-over-month
in
3
Building Type BY
Building Size
Towers | 201+ Units
Boutiques led with 255 contracts. Towers led in contract growth at 49% Midsize buildings had the highest PPSF at $1,774
Midsize | 101 - 200 Units
Boutiques | 31 - 100 Units Con
ANALYSIS BY +49% Month-over-month -10% Month-over-month
Contracts 213 Price / SF $1,439 Dollar Volume $312M +11% Month-over-month +17% Month-over-month -4% Month-over-month
tracts 222 Price / SF $1,774 Dollar Volume $483M -18% Month-over-month +23% Month-over-month +2% Month-over-month
Con
tracts 255 Price / SF $1,667 Dollar Volume $615M +47% Month-over-month
4
Building Size
Boutiques topped Manhattan with 255 contracts, while towers saw the most significant month-over-month growth at 49% The number
of contracts reported in midsize buildings was unchanged this month
Contracts Signed
Towers (201+ Units)
Midsize (101 - 200 Units)
Boutiques (31 - 100 Units)
Feb2022 Apr2022Jun2022 Aug2022 Oct2022Dec2022Feb2023 Apr2023Jun2023 Aug2023 Oct2023Dec2023Feb2024 0 200 400 600 800 1,000 1,200 1,400
5
ANALYSIS BY
Building Size
Price Trend
$
$
$
$
$
Midsized buildings had the highest per-square-foot price in Manhattan, with units in large towers selling
for less on a square-foot basis Boutiques saw a 2%
price per square foot increase, while towers faced a 10% decline
Towers (201+ Units)
Midsize (101 - 200 Units)
Boutiques (31 - 100 Units)
Feb2022 Apr2022Jun2022 Aug2022 Oct2022Dec2022Feb2023 Apr2023Jun2023 Aug2023 Oct2023Dec2023Feb2024
0
500
1,000
1,500
2,000
BY 6
ANALYSIS
New | After 2018 -9% Month-over-month Contracts 86 -9% Month-over-month Price / SF $2,291 Dollar Volume $344M -44% Month-over-month Recent | 2000 - 2018 +40% Month-over-month Contracts 117 +2% Month-over-month Price / SF $1,838 Dollar Volume $394M +69% Month-over-month Post-War | 1946 - 1999 +33% Month-over-month Contracts 283 +0% Month-over-month Price / SF $1,234 Dollar Volume $358M +37% Month-over-month Pre-War | Before 1946 +25% Month-over-month Contracts 325 +9% Month-over-month Price / SF $1,503 Dollar Volume $743M +44% Month-over-month
ANALYSIS BY Pre-war properties outperformed post-war in PPSF. Recent builds led in contract growth New builds led in PPSF at $2,291. 7
Building Age
Building Age
Contracts Signed Contract volume rose across all building ages this month except for units built after 2018, which saw a 9% decrease Pre-war buildings led with 325 contracts and $743M in total dollar volume Feb2022 Apr2022Jun2022 Aug2022 Oct2022Dec2022Feb2023 Apr2023Jun2023 Aug2023 Oct2023Dec2023Feb2024 0 500 1000 1500 2000 New (After 2018) Recent (2000 - 2018) Post-War (1946 - 1999) Pre-War (Before 1946)
ANALYSIS BY 8
Building Age
As has been the case for some time, new construction fetched the highest per-squarefoot prices in Manhattan, with recently built
units ranking second. Similarly, pre-war continues to achieve lower prices than post-war
Post-War (1946 - 1999)
Pre-War (Before 1946)
$
$
$
Feb2022 Apr2022Jun2022 Aug2022 Oct2022Dec2022Feb2023 Apr2023Jun2023 Aug2023 Oct2023Dec2023Feb2024
0
500
$
$
1,000
1,500
$
2,000
2,500
,000
$3
Price Trend New (After 2018) Recent (2000 - 2018)
ANALYSIS BY 9
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The content of this report is based on contracts reported through listings and may not represent all contracts signed
The date of the contract is determined by the date a listing status changed from active to contract Prices are based on the last asking price before a listing was put into contract
The property information herein is derived from various sources that may include, but not be limited to, county records and the Residential Listing Service, and it may include approximations Although the information is believed to be accurate, it is not warranted, and you should not rely upon it without personal verification Affiliated real estate agents are independent contractor sales associates, not employees ©2024 Coldwell Banker
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