Manhattan Condo & Co-Op Sales: April 2024

In April 2024, sales increased year-over-year for the third time this year and displayed the largest annual percentage gain since January.

This month, just over 1,000 contracts were signed, up 9% versus last year but down a typical 2% versus March. Average days on market fell by 11% year-over-year and dropped 21% versus March.

Condo sales rose 16% year-over-year, and co-op sales experienced a 4% annual increase.

  • By price, contract activity rose across all price points, with sales between $2M and $3M increasing by double digits versus 2023.
  • By location, five out of the six submarkets displayed year-over-year gains in signed contracts. The Financial District/Battery Park City was the only submarket to display an annual decline — down 33%.
  • Days on market fell 9% year-over-year for condos, while co-ops fell 12% compared to a year ago.

Listed inventory and average price per square foot rose versus 2023.

  • At the end of April, active listings totaled 7,260 units — up 16% versus March and less than 1% versus last year.
  • The month-over-month uptick in inventory was higher than the average 9% increase reported between March and April in the last decade.

Average price per square foot, at $1,857, rose 6% year-over-year.

  • Both condo and co-op average price per square foot figures increased compared to a year ago. This month, the market share of contracts at the high-end asking over $3,000 per square foot rose versus April 2023.
  • Discounts off last ask, which are based on Corcoran contracts signed in April, averaged -2.4%, tightening by 0.4% year-over-year. This month, condos displayed deeper discounts than co-ops at 3.3% off last ask, while co-ops averaged 1.2% off last ask.
  • Overall negotiability versus last ask was the smallest monthly average since June 2023.

Read the full report.

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