NYC Sales Monthly Market Update – January 2021
Introducing the monthly sales market update! Here’s a look at some key numbers for January 2021 in Manhattan and Brooklyn.
A couple of key points:
- The market is officially in recovery mode, at least where signed contracts are concerned, with strong year over year growth.
- But it’s a NEUTRAL market – buyers still have a lot of advantages, namely higher inventory and lower asking prices. But they’re NOT fully in the driver’s seat!
- Don’t be fooled by higher average prices. Those are likely ticking upwards due to a higher number of transactions occurring at higher price points. ACTUAL prices are still a mixed bag. There’s still big discounts for luxury properties, while townhouses and 2 or 3 bedroom with outdoor space are on fire. There’s also lots of great value opportunities for smaller apartments like studios and 1 bedrooms, especially in Manhattan
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