Report
Q4-2023 Manhattan, NY Sales
Manhattan
Median Sales Price
Number of Sales
$1.30M
5,000
Co-Op & Condo
$1.18M
4,200
$1.06M
3,400
YEAR-OVER-YEAR
$940K
2,600
+ 5.1%
$820K
1,800
Dashboard
Prices
Median Sales Price
+ 0.3 mos
1,000
$700K 2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
Pace
Months of Supply
- 5.5% Sales
Closed Sales
- 1.7%
Inventory
Total Inventory
+ 3 days
Marketing Time Days on Market
+ 1.3%
Negotiability Listing Discount
• Median sales price rose year
over year for the first time in five quarters to the second-highest fourth quarter on record
• Listing inventory declined
annually for the third consecutive quarter as sales continued to fall
• Cash sales surged to exceed
two-thirds of all sales to reach a record-high market share
Manhattan Matrix
Q4-2023
%∆ (qtr)
Q3-2023
%∆ (yr)
Q4-2022
Average Sales Price
$2,013,963
3.0%
$1,955,758
3.8%
$1,940,565
Average Price Per Sq Ft
$1,647
3.5%
$1,592
-0.9%
Above Last ListPrice Price Median Sales
$1,156,391
0.6%
$1,150,000
5.1%
Supply $1,100,500
New Development 40%
$2,025,000
0.2%
$2,020,466
2.2%
$1,981,794 25
$1,049,999
5.0%
$999,999
6.1%
$990,000
32% Number of Sales (Closed)
2,406
-15.7%
2,854
-5.5%
20 2,546
Days on Market (From Last List Date) 24% Listing Discount (From Last List Price)
79
1.3%
78
3.9%
7.2%
76 15 5.9%
-1.7%
6,523 10 7.7
Manhattan
% Market Sold
Re-Sale
Listing Inventory 16% Months of Supply
6,412
Year-to-Date 8% Average Sales Price (YTD) 2014
2015
Median Sales Price (YTD)
2016
Number of Sales (YTD)
6.3% -11.7%
7,265
8.0
5.3%
7.6
3.9%
Q4-2023
%∆ (qtr)
Q3-2023
%∆ (yr)
$1,996,093
N/A
N/A
-1.7%
0% Average Price per Sq Ft (YTD)
$1,674 2017
2018
$1,150,000 9,828
$1,662
Months of
N/A 2019
N/A N/A
N/A 2020
Q4-2022 5 $2,031,215 0 $1,640
2.1%
2021
N/A
2022
N/A
-28.0%
-3.6%
2023
$1,192,500 13,657
After declining year over year for four Months the median within Manhattan of Supplysales price has remained Co-Op Condo straight quarters, the median sales price a tight range of $1,075,000 to $1,200,000 30 5.1% to $1,156,391, 15.8% above prerose from 2021 through 2023 despite the 37.2% pandemic levels. Average sales price decline in sales since the Fed pivot on rates followed the same pattern, increasing 3.8% began in the early spring of 2022. Price 24 annually to $2,013,963, 10.9% above prestability was mainly due to the 19.5% drop in pandemic levels. Except for the $1,250,000 listing inventory over the same period, even 18 record set in the second quarter of 2022, as mortgage rates doubled in the steepest 12
7.4 Month Rate, 10-Year Average
6 0 <$500K
Prepared by Miller Samuel Real Estate Appraisers & Consultants $500K-$999K $1M-$1.49M 1.5M-$1.99M $2M-$2.99M $3M-$4.99M $5M-$9.99M
$10M+