Manhattan luxury sales surged as inventory decreased.

Days on market rose year-over-year, while average price per square foot fell versus 2023.

November 2024 had 90 contracts over $5M, up 88% year-over-year, the third strongest November in ten years.

• New development sales more than tripled versus last year.

Active listings declined 16% year-over-year.

• Robust contract activity drove listed inventory over $5M to a 10-year low for November.

Days on market increased 6% year-over-year.

• New development and resale co-op marketing times fell annually, but resale condos saw a year-over-year increase.

Average price per square foot dropped 1% versus 2023 to $3,128.

• This month, all product types saw year-over-year percentage declines.