In October, Manhattan sales were down 15% from the previous month, with 877 total sales compared to 1,034 in September. New listings on the market also slowed, with 27% fewer listings than in September, and 26% fewer than in October 2021. The number of contracts signed increased 11% from September, but was down 41% from this time last year. Inventory remains low; down 2% month-over-month and 6% year-over-year. The median listed price was $1,398,333, up 1% compared to the previous month and up 8% compared to October 2021.
In October, the Brooklyn market continued to see a slowdown from the previous month. There were 346 sales, down 16% from September and down 36% from the same time last year. The median listed price was $679,666, up 1% from September, but down 17% from October 2021. New listings on the market dropped by 14% with a total of 419. Contract activity increased by 1% from September. Price per square foot remained relatively the same month-over-month, but was down 16% compared to the same time last year. Inventory also remains low in Brooklyn, with a 2% decrease from September.
