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Contract activity — the number of signed contracts — is up 10.8% year-over-year, though still 7.2% below the monthly historical average, indicating a market performing slightly below seasonal norms.
The median sales price for a Manhattan apartment stands at $1.1 million, marking a 3.5% annual decline.
Active listings have increased 1.9% compared to last year, while pending sales rose 15.3% year-over-year.
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The contract activity in Manhattan increased by 3.4% year over year, with 1,036 contracts signed. The median sale price rose to $1.25M, marking a 4.5% annual increase. Listing inventory totaled 7,338, just -1.4% from last year, while pending sales rose by 25.5% year over year, with 3,376 listings in contract. The Market Pulse (pending-to-active ratio) is 0.46, suggesting a neutral market.
Currently, above 0.5 is considered favorable to the seller, and below 0.3 is favorable to the buyer.
Luxury Segment
During the week ending June 15th, a total of 37 contracts were signed for units priced ...
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