MANHATTAN & BROOKLYN | WEEKLY SCOOP

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: December 7 to 13, 2024
MANHATTAN | CONDOS & CO-OPS

• Strong Market Momentum: Manhattan saw 210 contracts signed last week, marking a 3% increase week-over-week and a 26% surge year-over-year.

• Broad Market Growth: Sales activity across all product types, price ranges, submarkets, and bedroom types matched or exceeded levels from the same time last year.

• New Development Boom: New development sales skyrocketed 254% year-over-year, with 46 contracts signed—marking the third instance in 2024 where sponsor sales more than tripled compared to the same week in 2023.

• Luxury Market Uptick: Contracts signed for properties priced over $5 million rose significantly, reaching a four-week high of 22—a nearly 1.5x increase from last year.

CORCORAN WEEKLY REPORT: December 7 to 13, 2024
BROOKLYN | CONDOS & CO-OPS

• Overall Decline in Contracts: A total of 58 contracts were signed last week, reflecting a 13% week-over-week decrease and a 6% drop year-over-year.

• Market Dynamics by Property Type: Co-op sales fell 23% year-over-year, while condo deals showed resilience, rising by 3% during the same period.

• Shifts in Price Segments: Sales activity decreased in four of the six price categories compared to last year, but the $1M to $2M segment stood out with a four-contract increase.

• Highlight Sale of the Week: The top sale was a luxurious three-bedroom residence at Olympia Dumbo, boasting a 125-square-foot terrace with breathtaking views of Manhattan and New York Harbor.