Market Overview {Q2 | 2023}

Compared to the second quarter of 2022, the second quarter of 2023 witnessed a noteworthy decline of 23% in the volume of transactions observed within the Manhattan real estate market. Correspondingly, both the under $3M and $3M to $10M market segments experienced a similar decrease of 23% in the number of closed sales. Moreover, the overall average sales price across the market witnessed a marginal decline of 1%. However, it is important to note that the average sales price within the $3M to $10M segment displayed an increase of 8%, while the median sales price within the same segment exhibited a more substantial rise of 11%. In stark contrast, the high-end market, encompassing properties valued over $10M, faced a significant decrease in average sales price, plunging by 16%.

3,516 Closed Sales

-23% Change in Closed Sales {2023 v 2022}

$2.08M

Average Sales Price

-1% Change in Average Sales Price {2023 v 2022}