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| January marked a dynamic shift in Manhattan's real estate landscape. While inventory tightened by 5% year over year, suggesting strong underlying demand. Contracts surprisingly saw a 7% jump compared to the previous year. This intriguing contrast hints at a potential market transition, where fewer options are fueling buyer activities. Is the long duration down-cycle coming to an end? |
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Manhattan January Market Report |
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Inventory decreased by 5.0%, while signed contracts inclined by 7.0% compared to the same period last year. In contrast to the previous month, both average and median sale prices saw a decline, with reductions of 5.3% and 2.9%, respectively. |
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| | | In January, notable activity occurred in the luxury segment (properties priced at $4 million and above), with a total of 82 contracts signed. This trend spanned four weeks, reaching its peak during the final week of January, when 25 contracts were signed. Source: Olshan Market Report |
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| Top 10 Contracts Signed in January |
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| 217 West 57th Street # 107/108 |
| 7 BD 10 BA 12557 SF $149,500,000 |
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| | | 5 BD 7 BA 7375 SF $49,000,000 |
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| | | | 4 BD 5 BA 4019 SF $27,500,000 |
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| | | | 5 BD 6 BA 4530 SF $25,000,000 |
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| | | 4 BD 6 BA 4613 SF $18,000,000 |
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| | | | 4 BD 4 BA 3042 SF $16,950,000 |
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| | | | 5 BD 6 BA 4510 SF $16,500,000 |
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| | 4 BD 5 BA 3622 SF $13,995,000 |
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| | | | 3 BD 3 BA 4000 SF $12,500,000 |
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| | | | 3 BD 4 BA 2678 SF $12,495,000 |
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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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