Q1 Manhattan real estate market numbers showed a rising demand for Manhattan homes, with 18% more contracts signed in Q1 2021 than in Q1 2020. Year over year sales, inventory, and listing prices decreased, while price per square foot increased quarter over quarter. One and two bedrooms comprised the bulk of sales and contracts signed, as well as total Q1 Manhattan inventory.
The Q1 Brooklyn real estate market saw a significant increase in year over year sales and contracts signed along with a remarkable decrease in year over year new listings. Listing prices and price per square foot were down year over year, though quarter over quarter price per square foot ticked up. One and two bedrooms comprised the bulk of Q1 sales, contracts, and total inventory across Brooklyn.
The Queens Q1 real estate market saw continued growth with year over year and quarter over quarter increases in sales and prices, along with a quarter over quarter decrease in number of new listings.
Figures in this report are based on publicly reported data from Automated City Register Information System (ACRIS) as well as proprietary data.