Sales in Manhattan continued on a tear, setting records for the third straight quarter as the market catches up with the region. The quarter saw the highest number of sales for a first quarter in thirty-three years of tracking.
- Overall price trend indicators were higher than in the same period before the pandemic.
- Bidding war market share rose to the highest level in four years for the fourth straight quarter.
- Co-op median sales price posted significant annual gains for the fifth consecutive quarter and was higher than pre-pandemic levels.
- Condo sales were up by more than fifty percent annually to reach the most first-quarter sales in fifteen years of tracking.
- Luxury listing inventory fell annually for the third straight quarter and remained below pre-pandemic levels. The luxury market saw the second-highest market share of bidding wars in five years of tracking.
- New development price trend indicators continued to remain well below pre-pandemic levels. New development sales were nearly double year-ago levels, the fourth straight quarter of significant annual increases.
