MANHATTAN & BROOKLYN | WEEKLY SCOOP
Tram to Rosevelt Island.
The In-Between
Similar to our favorite streaming shows, there's a beginning, an end, and everything in between.
In the heart of New York City's bustling real estate seasons - spring and fall - I aim to bring you a condensed weekly update to keep you plugged into the latest action.
CORCORAN WEEKLY REPORT: May 18 to May 24
MANHATTAN | CONDOS & CO-OPS
Signed Contracts. Last week, Manhattan reported 268 signed contracts, marking a 7% increase from the previous week and a 15% rise year-over-year.
Historical Avg. This ten-week high exceeded the ten-year historical average for the fourth week of May by 7%.
Y-O-Y Sales. Sales in all categories, except the Upper West Side and Downtown, matched or surpassed levels from a year ago.
Above $5M. This marks the sixth consecutive week with 20 or more sales over $5 million, with the majority being resales last week.
Corcoran. For the second consecutive week, Corcoran represented three of the top five sales by price.
CORCORAN WEEKLY REPORT: May 18 to May 24
BROOKLYN | CONDOS & CO-OPS
Signed Contracts. Last week saw the signing of 111 contracts, reflecting a 4% year-over-year increase and a 12% rise from the previous week.
Sales Increase. This marks the first weekly year-over-year sales increase in seven weeks and only the sixth such instance this year.
Product Type. Despite a double-digit annual decline in condo sales, co-op activity surged by 50% compared to last year, with 60 weekly contracts—the highest volume for this product type in nearly three years.
Under $500K. Sales under $500K more than doubled compared to 2023, driven primarily by co-op transactions in South Brooklyn.
Three Bedrooms. Sales in Park Slope, Clinton Hill, and Prospect Heights drove a 46% increase in contracts for three-bedroom units year over year.
All information contained within this document is intended for informational purposes only and is sourced from sources that are considered reliable. Although the information is believed to be accurate, it is presented subject to omissions, errors, modifications, or withdrawal without prior notice. This is not intended to solicit property that has already been listed. Equal Housing Opportunity.