Manhattan luxury sales increase and inventory falls versus 2023.

Days on market and average price per square foot both declined compared to last year.

September 2024 had 65 sales over $5M, up 67% year-over-year.

• This was the strongest September for luxury sales since 2021. Sponsor sales more than doubled versus a year ago.

Active listings declined 5% year-over-year.

• Resale condo was the only product type to display an annual increase in listed inventory over $5M.

Days on market fell 2% year-over-year.

• Average days on market has now declined annually for nine of the past 12 months.

Average price per square foot dropped 2% annually to $3,204.

• This month, the resale co-op average significantly increased versus last year due to a contract exceeding $6,000 per square foot. Excluding this sale, the resale co-op average was $2,243, a 13% annual increase.