MANHATTAN MARKET UPDATE AUGUST 2022
In August, Manhattan sales ticked up 6% from the previous month, while other metrics continued to trend down yearover-year. New listings on the market slowed, with 27% fewer listings than in July, and 18% fewer than in August 2021. The number of contracts signed increased 2% from July but was down 29% from this time last year. Inventory remains low; down 6% month-over-month and 5% year-over-year. Prices continue to rise; the median listed price was up 6% and the average price per square foot increased by 7% compared to August 2021.
SALES 1,298
Aug 2021
CONTRACTS SIGNED
1,079
1,143
Jul 2022
Aug 2022
1,059
Aug 2021
MEDIAN LISTED PRICE $1,276,916
736
751
Jul 2022
Aug 2022
$1,366,000
$1,357,000
Jul 2022
Aug 2022
Aug 2021
12%
6%
29%
2%
6%
1%
Year over Year
Month over Month
Year over Year
Month over Month
Year over Year
Month over Month
AVERAGE PRICE PER SF
NUMBER OF NEW LISTINGS
$1,570
$1,668
$1,681
888
Aug 2021
Jul 2022
Aug 2022
Aug 2021
998
TOTAL INVENTORY 9,405
9,474
8,923
Aug 2021
Jul 2022
Aug 2022
726
Jul 2022
Aug 2022
7%
1%
18%
27%
5%
6%
Year over Year
Month over Month
Year over Year
Month over Month
Year over Year
Month over Month
©2022 UMRO Realty Corp., dba The Agency®. Equal Housing Opportunity. All material presented herein is intended for informational purposes only. The sources are deemed to be reliable and the information is believed to be accurate, however the material is subject to errors, omissions, changes, or withdrawal without notice. All measurements and square footage are approximations. No statement is made as to the accuracy of any description. Figures in this report are based on publicly reported data from Automated City Register Information System (ACRIS). CalDRE #01904054