Manhattan’s January sales market saw a large year over year jump in contracts signed as well as a decrease in the number of new listings to hit the market. Current buyers can take advantage of the lower year over year median listed prices and average price per square foot, although month over month metrics in both areas were up.
The strength of Brooklyn’s market did not let up in January, with a whopping 901% year over year increase in contracts signed and 12% more sales than January of 2020. Median listed price and average price per square foot were slightly down year over year, as were the number of new listings to hit the market.
The January Queens market showed increased median listing prices although sales were slightly down year over year. New listings saw a month over month jump and a year over year decrease, while total inventory remained steady compared to this time last year.
Figures in this report are based on publicly reported data from Automated City Register Information System (ACRIS) as well as proprietary data.