Contract activity reached 831 signed contracts in February, increasing 17.2% from the previous month but remaining 3.5% below last year’s level. The median sale price climbed to $1.28M, representing a 7.6% increase year over year. Manhattan supply currently stands at 5,682 listings on the market, a 9.6% decline compared to the same time last year. Pending sales total 2,921 units, up 4.7% year over year. Based on the ratio between pending sales and supply, the Market Pulse stands at 0.51, placing the market in a neutral territory.

*Currently, above 0.5 is considered favorable to the seller, and below 0.3 is favorable to the buyer

Luxury Segment

Twenty-six contracts were signed in the week ending March 15 in Manhattan at $4 million and above, 17 fewer than the previous week. The total weekly asking-price sales volume reached $191,755,000, with a median asking price of $6,195,000. The average discount from original to last asking price was 9%. The top contract was PH20 at 200 East 79th Street, asking $18 million.

(Data source: UrbanDigs, Olshan, foto: Jan Folwarczny)