Manhattan Weekly Market Update

Updated every week with the latest market trends in Manhattan
Tony InJe Yeo's avatar
Nov 11, 2024
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

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