Saadiah Fowlkes’ Post

My beautiful Gramercy Park with the fall season on its way🌳 ~ Here's to take a quick review of Manhattan Condo & Co-Op Sales: August 2024 by The Corcoran Group ~ Contract activity holds steady while days on market increases. Average price per square foot declines while discounts remain prevalent. 💫In August 2024, Manhattan sales saw a slight improvement versus a year ago, with 875 contracts — up 1% year-over-year. 💫Marketwide, reported sales rose annually for all price points except those between $1M and $2M. 💫Listed inventory in Manhattan rose a minimal 1% year-over-year. At the end of the month, active listings totaled 6,315 units, level with the 10-year average for August. 💫Discounts off last ask, based on Corcoran contracts signed in August, averaged -5.4%, deepening by 2% versus last year. 📩DM if you'd like to receive the Full Report. #gramercypark #livewhoyouare #behome #corcoranmarketreport #thecorcorangroup #nycrealestate #luxuryhomes #sellingnyc #jenniemarealestate

I am pleased to present The Corcoran Group snapshot of Brooklyn condo and co-op contracts signed from July 27 to August 2, 2024.    Below are some key highlights from the week:   Last week, 82 contracts were reported signed, up 5% week-over-week but down 7% year-over-year. Versus 2023, condo sales fell 23% year-over-year, whereas co-op contracts increased 41%. Four of six price ranges reported level or increased activity versus a year ago, including an 18% increase in sales under $500K. South Brooklyn had the largest annual increase in sales of any submarket, up 69% (nine contracts) because of strong co-op activity. Last week's most expensive deal was at 444 12th Street, the Ansonia Clock Factory in Park Slope. PHE features views of the New York Harbor and a large terrace.

I am pleased to present The Corcoran Group snapshot of Brooklyn condo and co-op contracts signed from March 16 to 22, 2024.    Below are some key highlights from the week: 86 contracts were signed last week, down 11% year-over-year but up 8% from the previous week, representing the most sales since October. The week-over-week increase in contract activity was due to a jump in co-op sales, up 55%. Activity slowed relative to a year ago for all price points except $1M to $2M, where more sales occurred in Williamsburg & Greenpoint. The neighborhoods just south of Prospect Park had the largest nominal annual increase in activity, up eight sales. Last week's most expensive sale was a penthouse at 11 Hoyt. This was Brooklyn's highest priced 2 bedroom sale in the past year.

I am pleased to present The Corcoran Group snapshot of Brooklyn condo and co-op contracts signed from May 4 to May 10, 2024.    Below are some key highlights from the week:   83 contracts were signed last week, down 11% year-over-year but up 6% from the previous week. This was the second largest number of contracts signed in the last six weeks. Both condo and co-op contracts were down 11% annually. Condo activity was stronger with 50 transactions. Four of the six price segments declined annually except $750K to $1M and $1M to $2M, which both increased by double-digits. Williamsburg/Greenpoint had the largest annual increase in sales with eight more contracts signed than a year ago. Last week's most expensive contract was a penthouse residence at 1 Grand Army Plaza, offering 2,500 square feet of outdoor space with views of the Prospect Park. This was the highest asking price per square foot to go into contract in Prospect Heights.  

I am pleased to present The Corcoran Group snapshot of Brooklyn condo and co-op contracts signed from December 23 to 29, 2023.    Below are some key highlights from the week: ·         47 contracts were signed last week, down 13% week-over-week due to Christmas but up 38% year-over-year. ·         Both condo and co-op transactions were up by double-digits year-over-year, a difference of eight and five sales, respectively. ·         The number of contracts under $1M was unchanged year-over-year, but activity over $1M more than doubled. ·         Williamsburg/Greenpoint had the largest annual increase in sales. However, eleven of the sales were at one new development, The Huron, and likely did not all occur in the week reported. ·         Last week's top contract was a four-bedroom penthouse residence at Quay Tower featuring skyline and harbor views.

I am pleased to present The Corcoran Group snapshot of Brooklyn condo and co-op contracts signed from April 20 to April 26, 2024.    Below are some key highlights from the week:   76 contracts were signed last week, down 28% year-over-year and 5% from the previous week. Both condo and co-op contracts were down annually. Condo sales were down by seven deals while co-op transactions were down by 22. While sales under $1M were down 43% year-over-year, transactions over $1M increased 10%. Fort Greene/Clinton Hill/Prospect Heights had the largest annual increase in activity, up by seven sales. Last week's most expensive sale was the only contract to exceed $3M. The penthouse residence at 110 North 1st Street offers floor-to-ceiling windows and private outdoor space.  

The Brooklyn Real Esate Market: Last week, 69 contracts were reported signed, down 10% versus last week but up 3% annually, the second consecutive year-over-year increase. While condo activity declined 6% annually, co-op sales jumped 25%, a difference of 5 sales. Three of six price ranges increased versus 2023. The over $3M category had the largest increase with more than three times as many sales. Last week tied a week in May for the most sales over $3M in the last twelve months. South Brooklyn had the largest nominal annual increase in sales of any submarket, a difference of six sales. Last week's most expensive deal was a penthouse at 280 Saint Marks Avenue in Prospect Heights, offering two terraces, parking, and storage. #nyc #brooklyn #realestate #corcoran #coop #condo #sell #buy #market #finance #thesyndicate

The market took off nicely last week! Below are some key highlights from the week 9/14-9/20 for Manhattan condo and co-op sales: 🔹 Signed contracts rose 42% annually to 190, the best week of any September since 2021. 🔹 This was the most significant YoY percentage gain for contracts since the first week of February. 🔹 Reported signed contracts have now improved YoY for four consecutive weeks for the first time since June. 🔹 All product types saw annual increases in contracts, led by new development sales, which more than tripled versus 2023. 🔹 The top sale was the 12th floor at 960 Fifth Avenue asking $60M, the most expensive co-op sale in over two years. #marketupdate #realestatesales #nycrealestatebroker #manhattanrealestate #nycnewdevelopments

I am pleased to present The Corcoran Group snapshot of Brooklyn condo and co-op contracts signed from February 10 to 16, 2024. Below are some key highlights from the week: 48 contracts were signed last week, down 45% year-over-year and 34% week-over-week. Though Brooklyn contract activity declined annually this week, ten of the last fifteen weeks have seen year-over-year increases. The largest annual decline occurred among one bedroom residences, causing two bedrooms to take over the market's largest share of sales. All eight submarkets displayed annual declines. Fort Greene/Cobble Hill/Prospect Heights fell least significantly, down just one sale. Last week's most expensive sale was a four bedroom residence at The Standish, featuring views of lower Manhattan and the Statue of Liberty.

Last week in Manhattan, 23 contracts for properties priced at $4 million and above were signed, an increase of three from the previous week. Condos led the sales with 16 transactions, while co-ops had only 3. There was also 1 condop and 3 townhouses sold. In the past four weeks, 85 contracts were recorded at the $4 million price point, slightly below the 88 contracts from the same period last year. The average for this time in July over the last decade is 78 contracts. What does this mean? The market is currently favorable for smart buyers who see this as the BEST TIME TO BUY! Sellers are adjusting their prices to prevent their listings from becoming stale. Feel free to reach out if you have any questions or want to discuss the latest market trends! 😉 Email: Awernick@cbwarburg.com Website: andreawernick.com #SuccessInTheCity #luxuryrealestate #ManhattanRealEstate #LuxuryLiving #realestateagent #BUYandSELLwithME📞 #askandrea #coldwellbankerwarburg