Manhattan Weekly Market Update
Week of 12/23
Summary:
Supply
Another 4.6% drop
Liquidity
Ticked down a scant 1%
Weekly New Listings
Down 29%
Weekly Contracts Signed
Unchanged from last week
Market Pulse: Currently a Seller’s Market
Detailed View:
Supply
Manhattan supply drops another 4.6% as the year draws to a close.
Demand
The overall pace of liquidity decreased by a slight1% given the time of year.
New Listings
The number of weekly new listings fell 29% - no surprises here.
Contracts Signed
The number of signed deals stayed the same over the year - a strong ending to a strong quarter
Source: UrbanDigs
Week of 12/16
Summary:
Supply
Another 3% drop
Liquidity
Ticked up 1%
Trend staying high despite seasonal gravity
Weekly New Listings
Down 13%
Weekly Contracts Signed
Surged 28% from prior week
Market Pulse: Currently a Seller’s Market
Detailed View:
Supply
Manhattan supply drops another 3% as it cools down for winter.
Demand
The overall pace of liquidity increased by 1% and ticked back above 2020's pace.
New Listings
The number of weekly new listings fell 13% - no surprises here.
Contracts Signed
The number of signed deals rose 28%, likely due to a backlog of deals, but the addition of deal volume keeps the recovery trend in place.
Source: UrbanDigs
Week of 12/09
Summary:
Supply
Another 2% drop
Liquidity
Fell by 4%
Weekly New Listings
Rebounded 111% from quiet Thanksgiving week
Weekly Contracts Signed
Rebounded 111% from quiet Thanksgiving week
Market Pulse: Currently a Seller’s Market
Detailed View:
Supply
Manhattan supply drops another 2% as it continues its winter wind down.
Demand
The overall pace of liquidity decreased by 4% during the post-Thanksgiving week and fell below 2023's weekly level for the first time since August.
New Listings
The number of weekly new listings rebounded after the holiday week, but the winter down trend is in place.
Contracts Signed
The number of signed deals fell 9% on the week with no post-holiday bump, suggesting a glimpse of market weakness.
Source: UrbanDigs
Week of 11/25
Summary:
Supply
2% drop
Slowly winding down into winter
Liquidity
6% lower on the week
Weekly New Listings
Down 16%
Weekly Contracts Signed
Up 5% on the week
Market Pulse: Currently a Seller’s Market
Detailed View:
Supply
Brooklyn supply ticked slipped another 2% as fall fades to winter.
Demand
Liquidity ticked down nearly 6%, as the fall season starts rolling over into winter.
New Listings
New listings fell by 16%, with quieter weeks on tap.
Contracts Signed
Deal volume increased 5% on the week but the depth of decline this fall has been muted compared to the last couple years
Source: UrbanDigs
Week of 11/18
Summary:
Supply
Small 0.5% drop
Liquidity
1% lower on the week
First down week since Oct 1
Weekly New Listings
Down 14%
Weekly Contracts Signed
Fell 11% over the week
Detailed View:
Supply
Brooklyn supply ticked slipped 0.5% lower as it works its way down until spring.
Demand
Liquidity ticked down 1%, ending the string of up weeks that began in late September.
New Listings
New listings fell by 14%, with quieter weeks on tap.
Contracts Signed
Deal volume dropped 11% over the week and while the near term uptrend is still in play, the end-ofseason writing is on the wall.
Source: UrbanDigs
Week of 11/11
Summary:
Supply
Declines 2%
Liquidity
Liquidity (30-day contracts signed) ticked up 1%
Weekly New Listings
New listings rose 43%
Weekly Contracts Signed
Rose 14% on the week
Detailed View:
Supply
Brooklyn supply ticked ticked down a bit over 2% as it slowly winds down until spring.
Demand
Liquidity rose another 1% to set a new high water mark for the year, but the pace looks to be slowing
New Listings
New listings rose by 43%, somewhat evening out the steep drop last week, but the slowing trend remains in place
Contracts Signed
The level of weekly signed deals rose 14% and climbed back above 150 as the “Brooklyn’s Back” trend gains momentum.
Source: UrbanDigs