There are more homes on the market in Manhattan and Brooklyn than the month and year before.
There are 6,667 condominiums, co-ops and townhouses for sale in Manhattan, up 14.6 percent month over month and 1.8 percent year over year, according to data from UrbanDigs. In Brooklyn, there are 3,263 properties on the market, a 13.1 percent monthly increase and 8.8 percent yearly increase.
March in particular saw a wave of new listings: 1,062 in Brooklyn (up 44.9 percent month over month and 20.8 percent year over year) and 2,058 in Brooklyn (up 44.5 percent month over month and 15.5 percent year over year).
However, in both markets homes are lingering on the market longer than they had the month prior. In Brooklyn, homes are taking a median of 65 days to sell – 3 percent longer than last month, and 9.7 percent longer than last year. In Manhattan properties are on the market a median of 94 days – 1.1 percent longer than last month, but 9.6 percent faster than last year.
As for pricing, the median sale price in Manhattan in March across all property types was $1.2 million, a 12.7 percent jump year over year yet down 1 percent from February. In Brooklyn, the median price also slid in March from February by 3.3 percent to $1.01 million. Prices in that borough, however, are up 8.2 percent for the year.
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