Days on market declined annually but average price per square foot rose compared to last year.
Market Reports
In August, Brooklyn saw healthy inventory growth and price adjustment.
Contract activity holds steady while days on market increases.
In Manhattan, the median rent experienced its first annual decline in three years.
Despite broader challenges, both markets have shown resilience.
Days on market declined annually but average price per square foot rose compared to last year.
Condo sales fell 18%, resulting in an overall decline of 5%.
In June 2024, contract activity saw a modest uptick while days on market declined.
Typical as the summer progresses, inventory levels ticked up in both Manhattan and Brooklyn.