In October, Manhattan sales were down 15% from the previous month, with 877 total sales compared to 1,034 in September. New listings on the market also slowed, with 27% fewer listings than in September, and 26% fewer than in October 2021. The number of contracts signed increased 11% from September, but was down 41% from this time last year. Inventory remains low; down 2% month-over-month and 6% year-over-year. The median listed price was $1,398,333, up 1% compared to the previous month and up 8% compared to October 2021.
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In October, the Brooklyn market continued to see a slowdown from the previous month. There were 346 sales, down 16% from September and down 36% from the same time last year. The median listed price was $679,666, up 1% from September, but down 17% from October 2021. New listings on the market dropped by 14% with a total of 419. Contract activity increased by 1% from September. Price per square foot remained relatively the same month-over-month, but was down 16% compared to the same time last year. Inventory also remains low in Brooklyn, with a 2% decrease from September.
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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
