Manhattan sales continued to see a month over month and year over year slowdown in July, with 7% fewer sales than in June 2022, and 19% fewer sales than in July 2021. Prices remained on the rise, nonetheless, with year over year median listed prices and average price per square foot up 7%. There were 41% fewer contracts signed year over year, which was also down 19% month over month. Overall inventory was down 5% compared with June and 8% compared with July 2021.
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In July, Brooklyn sales ticked up 2% from the previous month; down 27% year over year. The number of new listings that hit the market was higher year over year, with 13% more listings than in July 2021; month over month, new listings slowed with 7% fewer listings than in June 2022. The number of signed contracts was also down both year over year and month over month, 17% and 20%, respectively, while overall inventory was up 11% compared to July 2021, and down 2% compared to June 2022. Unlike Manhattan, the median listed price was down 16% year over year and 2% month over month; the average price per square foot was also down, 15% and 2%, respectively.
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Queens real estate sales decreased month over month and year over year with 11% fewer sales in July than in June, and 8% fewer sales than in July 2021. Prices continue to rise, with year over year and month over month increases in both median listed price and median sales price. There were 17% fewer homes listed in July than in June, and 10% less than in July of 2021.
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