How Many Apartments Sold in Manhattan in Q2 2024?

The market report we shared with clients counted 2,596 apartment sales in the second quarter of 2024: essentially flat year over year, and 45% more than the first quarter.

What Was the Median Manhattan Apartment Price in Q2 2024?

The median Manhattan sale price was about $1.18 million in the second quarter of 2024. Douglas Elliman reported $1,181,679, down 1.5% year over year, with an average sale price of $2,001,015, down 3.3%.

Which Manhattan Neighborhoods Outperformed in Q2 2024?

Midtown East, including Murray Hill and Kips Bay, posted a 15.2% year-over-year increase in sales, and signed contracts on the Upper East Side rose 12.7%.

How Did Manhattan's Luxury Market Perform in Q2 2024?

Signed contracts between $10 million and $20 million rose 32.4% year over year, and contracts above $20 million rose 8.3%.

Is Manhattan Inventory Rising?

Yes, modestly. Douglas Elliman counted 8,044 listings, up 4.2%, and Corcoran counted 7,539 active listings, up 3%, with new listings up 12%.

How Do the Brokerage Reports Compare for Q2 2024?

Each brokerage counts sales differently, so the figures in each firm's Q2 2024 report differ.

Did the 2024 Election Slow the Manhattan Market?

Some buyers chose to wait until after the November 2024 election, which thinned the buyer pool for the summer. For buyers ready to act, that pause was an opening, with less competition before buyers were expected to return after the election and as mortgage rates were expected to ease.

What Did Q2 2024 Mean for Manhattan Buyers and Sellers?

For sellers, the lesson of this quarter was pricing. The homes that did best were priced properly from the first day, which drew the largest pools of buyers and avoided the deeper discounts that follow an overpriced launch.

What Results Has The Michael J. Franco Team Delivered?

Through Q1 2024, my team had more than $100 million in sold and pending listings and had assisted 60 clients. Who you work with matters.

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Why Did Manhattan Luxury Contracts Jump 32.4% in Q2 2024?