New York City demand remained high during October with strong month over month increases in contracts signed alongside a decrease in new listings to hit the Manhattan, Brooklyn, and Queens markets.

The Manhattan market saw a 46% jump in month over month contracts signed, while year over year contracts were up 43%. Closed sales were up 86% year over year and down 4% month over month. Median listed price has hovered around $1.3M since this time last year, and average price per square foot has also remained steady for the last year at around $1600.

Brooklyn median listed prices and average price per square foot were slightly down in October compared with September, while there was a 69% month over month increase in number of contracts signed, as well as a 5% month over month and 59% year over year jump in closed sales.

Queens real estate sales and listing prices were up month over month and year over year in October, while new listings and total inventory were down month over month and year over year.

Figures in this report are based on publicly reported data from Automated City Register Information System (ACRIS), as well as proprietary data.