Overview
In June, a total of 891 contracts were signed across condos, co-ops, and townhouses; an overall 6% decrease from May.
These 891 signed contracts represented $1.9B in sales, a decrease of 12% month-over-month.
482 signed contracts were co-ops, representing a 13% decline month-overmonth and a corresponding 10% drop in sales volume.
Condo contracts totaled 392, representing an increase of 3%, while sales volume dropped by 15% from May.
Townhouse sales showed the most significant percentage increase in contract activity, jumping 42% in June, while sales volume held steady with just a 2% decline
AboutThe Coldwell Banker Warburg monthly trend report offers unique insights into sales performance and pricing trends in the Manhattan residential market by segmenting sales through the type of property, the number of units in a building, and the age of the building.
Building Type
The number of Co-op contracts signed decreased by 13% in June, while Condos increased by 3 16% However, the average price-per-square-foot stayed roughly the same in both categories.
Notably, townhouses experienced a substantial 16 46% decrease in the price per-square-foot, which could be a key factor in the significant 41 67% increase in the number of contracts signed month-over-month
Building Size
From May to June, contracts signed and dollar volume decreased across the board The biggest decrease was in Midsize buildings, with an 11 79% drop in contracts signed and a 17.61% drop in dollar volume. Despite the downturn in contracts signed and dollar volume, the average price-per-square-foot remained relatively the same
Towers | 201+ Units
Midsize | 101 - 200 Units
Boutiques | 10 - 100 Units
Building Size
In June, contract activity decreased month-tomonth for all building sizes The highest drop was Midsize buildings at 11 79%, followed by Boutiques at 6.03% and Towers at 3.48%
Towers (201+ Units)
Midsize (101 - 200 Units)
Boutiques (10 - 100 Units)
Building Size
Price Trend
In June, both Towers and Midsize buildings saw a slight decrease in the average price per-square-foot
Towers saw a 2 29% drop, while Midsize buildings saw a 1.54% drop. However, Boutiques saw an increase of 3 07% month-over-month
Towers (201+ Units)
Midsize (101 - 200 Units)
Boutiques (31 - 100 Units)
$2,000
$1,500
$1,000
$0,500
$0,000
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Building Age
Pre-war buildings saw the largest decrease in contracts signed at 16.41% month-over-month. Recent buildings also saw a decline of 7 08% While Post-War buildings remained the same, New buildings saw a 12% increase in contracts signed.
Building Age
From May to June, the average price persquare-foot of Pre-War buildings increased 9.46%. New buildings experienced a 9.85% drop The average price per-square-foot remained relatively the same for Post-War and 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
Jun2022Aug2022Oct2022Dec2022Feb2023Apr2023Jun2023Aug2023Oct2023Dec2023Feb2024Apr2024Jun2024
