Contract activity (or the number of signed contracts) is practically the same as a year ago, down just 1%, while it is down 7.6% from the monthly historical average. The median sales price for a Manhattan apartment is $1.15M, which is up 2.4% compared to a year ago. The supply, or the number of units on the market, is down 5.4% year over year (YoY). Meanwhile, the number of pending sales in Manhattan is 15% higher YoY. The Market Pulse, or pending-to-active ratio, stands at 0.48, confirming a neutral market.

*Currently, above 0.5 is ...