Manhattan Market Trend Report
WWW.CBWARBURG.COM APRIL
Overview
Total monthly contracts in Manhattan fell 1.01% to 881 in April from 898 in March
Nearly $1.89B in sales were
reported across condos, co-ops, and townhouses
Co-ops reported the most
contracts; 480 contracts totaling $646 5M in sales
At an average of $1,808, condo buildings commanded the highest price per-square-foot.
Townhouses saw the greatest
percentage decrease in contracts month-over-month at -33.33%.
The Coldwell Banker Warburg monthly trend report offers unique insights into sales performance and pricing trends in the Manhattan residential market by segmenting sales through the type of property, the number of units in a building, and the age of the building. About
2
Condos +5.99% Month-over-month -0.14% Month-over-month Contracts 389 Price / SF $1,808 Dollar Volume $1.15B -2.3% Month-over-month -6 43% Month-over-month -7 26% Month-over-month Co-ops Contracts 480 Price / SF $1,039 Dollar Volume $647M -13 92% Month-over-month -33 33% Month-over-month +12 91% Month-over-month Townhouses Contracts 12 Price / SF $1,424 Dollar Volume $99M -12 82% Month-over-month Condos saw a positive change of +5.99% monthover-month for contracts signed and had the highest total sales volume at $1 15B Co-ops and townhouses both saw decreases across all categories; contracts signed, dollar volume, and price per-square-foot. 3 Building Type ANALYSIS BY
Midsize condos saw the greatest change in total dollar volume from March to April, with an increase of 8 01% to $479 8 million Boutiques saw a notable decrease in sample size month-over-month; from 222 to 211 between March and April Towers saw a -2 47% decrease in average price per-square-foot. Building Size ANALYSIS BY -1.81% Month-over-month -2.47% Month-over-month
Contracts 217 Price / SF $1,510 Dollar Volume $397M +3% Month-over-month +7 59% Month-over-month +4 06% Month-over-month
200 Units Contracts 241 Price / SF $1,633 Dollar Volume $480M +8 01% Month-over-month ±0% Month-over-month +5.82% Month-over-month
Towers | 201+ Units
Midsize | 101 -
100 Units Contracts 398 Price / SF $1,617 Dollar Volume $848M -0.82% Month-over-month 4
Boutiques | 10 -
Building Size
0 200 400 600 800 1,000 1,200 1,400 Jun2022 Aug2022 Oct2022Dec2022Feb2023 Apr2023Jun2023 Aug2023 Oct2023Dec2023Feb2024 Apr2024 Contracts Signed In April, boutiques saw no change month-overmonth in the number of contracts signed The decrease in tower contracts was more modest at -1.81%, whereas midsize buildings saw an increase by 7 59% Towers (201+ Units) Midsize (101 - 200 Units) Boutiques (10 - 100 Units) 5
ANALYSIS BY
Price Trend
$0 $500 $1,000 $1,500 $2,000 Apr2022Jun2022 Aug2022 Oct2022Dec2022Feb2023 Apr2023Jun2023 Aug2023 Oct2023Dec2023Feb2024 Apr2024 At $1,633, midsize buildings saw a 4.06% increase in average price per-square-foot, while boutiques saw the greatest increase at 5 82% Only towers saw a decrease month-over month from $1,548 to $1,510 for a percentage change of -2 47%
Towers (201+ Units) Midsize (101 - 200 Units) Boutiques (31 - 100 Units)
ANALYSIS BY 6
Building Size
New | After 2018 +5.62% Month-over-month Contracts 94 -4.41% Month-over-month Price / SF $2,364 Dollar Volume $427M -16.40% Month-over-month Recent | 2000 - 2018 +3 76% Month-over-month Contracts 138 -3 51% Month-over-month Price / SF $1,673 Dollar Volume $312M -14 41% Month-over-month Post-War | 1946 - 1999 +2.95% Month-over-month Contracts 314 +3.25% Month-over-month Price / SF $1,248 Dollar Volume $439M +14.91% Month-over-month Pre-War | Before 1946 -6 35% Month-over-month Contracts 339 +8 87% Month-over-month Price / SF $1,424 Dollar Volume $640M -4 87% Month-over-month Building Age ANALYSIS BY New, recent, and post-war builds all saw an increase in total contracts signed, whereas pre-war saw a decrease month-over-month by -6.35%. Total dollar volume decreased across the board with the exception of post-war builds with a 14 91% increase, totaling $438 million. 7
Building Age
Contracts Signed New builds saw the greatest monthly increase in contracts signed, up nearly 5.62% in April. The number of contracts signed for pre-war buildings fell nearly -6 35% 0 500 1000 1500 2000 Apr2022Jun2022 Aug2022 Oct2022Dec2022Feb2023 Apr2023Jun2023 Aug2023 Oct2023Dec2023Feb2024 Apr2024 New (After 2018) Recent (2000 - 2018) Post-War (1946 - 1999) Pre-War (Before 1946)
ANALYSIS BY 8
Building Age
$0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 Apr2022Jun2022 Aug2022 Oct2022Dec2022Feb2023 Apr2023Jun2023 Aug2023 Oct2023Dec2023Feb2024 Apr2024 Once again, new construction had the highest price per-square-foot in Manhattan at $2,364. New builds also saw one of the greatest decreases in average price-per-square foot at -4 41% Price
New (After 2018) Recent (2000 - 2018) Post-War (1946 - 1999) Pre-War (Before 1946)
ANALYSIS BY 9
Trend
UPPER EAST SIDE
212 439 4500 654 Madison Avenue NY, NY 10065
TRIBECA
212 380 2400 124 Hudson Street NY, NY 10013
Data by
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The content of this report is based on contracts reported through listings and may not represent all contracts signed
The date of the contract is determined by the date a listing status changed from active to contract Prices are based on the last asking price before a listing was put into contract
The property information herein is derived from various sources that may include, but not be limited to, county records and the Residential Listing Service, and it may include approximations Although the information is believed to be accurate, it is not warranted, and you should not rely upon it without personal verification
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