The Q3 Manhattan real estate market saw year over year and quarter over quarter declines in quantity of sales, and number of new listings to hit the market. Both the median listed price and the average price per square foot was up 7% compared with Q3 of 2021. There were 2,098 contracts signed during the quarter, a 33% year over year decrease and a 37% quarter over quarter decrease. Overall inventory was up 40% compared with Q2 of 2022, but down 48% compared with the same quarter last year.
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The Brooklyn real estate market saw a year over year and quarter over quarter decrease in number of sales, number of new listing, and average price per square foot. Total inventory was up 46% compared with Q2 of 2022. There were 1,355 sales in the second quarter, a 21% quarter over quarter decrease and a 26% year over year decrease, while contracts signed were down 36% quarter over quarter and down 10% year over year. The average median listed price was $693,211, down 5% from Q2 of 2022.
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©2022 UMRO Realty Corp., dba The Agency®. Equal Housing Opportunity. All material presented herein is intended for informational purposes only. The sources are deemed to be reliable and the information is believed to be accurate, however the material is subject to errors, omissions, changes, or withdrawal without notice. All measurements and square footage are approximations. No statement is made as to the accuracy of any description. CalDRE #01904054
