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: November 23 to 29, 2024
MANHATTAN | CONDOS & CO-OPS

• Contracts Signed: 159 contracts were signed last week in Manhattan. This marked a 31% decrease week-over-week due to the Thanksgiving holiday but a 7% increase year-over-year.

• Thanksgiving Performance: It was the strongest Thanksgiving week in three years, indicating market resilience.

• Annual Growth Streak: Sales have risen year-over-year for six consecutive weeks, making it the third such streak in 2024.

• New Development Dominance: New development sales were the primary driver of year-over-year growth, showing the largest percentage increase among all property types.

• Sustained Momentum: For the eighth time in two months, new development sales achieved the most significant annual percentage growth.

CORCORAN WEEKLY REPORT: November 23 to 29, 2024
BROOKLYN | CONDOS & CO-OPS

• Contract Activity. 41 contracts were reported last week, a 43% decline week-over-week and a 42% decrease year-over-year due to Thanksgiving occurring in a different week.

• Post-Labor Day Sales. Since Labor Day, sales have increased by 18% year-over-year, reflecting strong market momentum outside the holiday week.

• Property Type Performance. Year-over-year: Co-op sales declined by 43%, Condo deals fell by 42%.

• Price Point Trends. Sales decreased across most price points, except for $750K–$1M and over $3M, which remained stable compared to last year.

• Holiday Effect: Thanksgiving’s shifting calendar influenced week-over-week and year-over-year comparisons, but the market displayed resilience in select segments.