In June, the contract activity reached 1,108 signed contracts, increasing 1.9% from the previous month and remaining 14.5% above last year’s level, while the median sale price stood at $1.28M, up 3.1% year over year. Regarding the data currently updated, Manhattan supply stands at 6,207 listings, down 9.2% compared to the same period last year, while pending sales total 3,821 units, up 15.5% year over year. As a result, based on the real-time ratio between pending sales and supply, the Market Pulse currently stands at ...

Manhattan’s rental market reached a new milestone in June, with the median monthly rent climbing to a record $5,295, reflecting an 8% increase compared to a year earlier. Brooklyn also set a new all-time high, with median rents reaching $4,350. The continued rise is being driven by a persistent shortage of available apartments, as vacancy rates remain historically low and inventory continues to shrink despite seasonal increases in listings.

The data highlights the growing affordability challenge across New York City. While demand for ...