Reuveni in Real Time: December 7th, 2020

December 7, 2020

With the typical Thanksgiving slowdown now behind us, the Manhattan marketplace came back in a strong way last week!

Here is your weekly Reuveni in Real Time report for the week of November 30-December 6 2020!


152
The number of signed contracts for the week is down vs. most of last month, but not far off this time last year. This is a 24% increase from the previous week (November 23-29, 2020). This is a 32% decrease from the week of March 9-15, 2020, the last normal week prior to the COVID-19 pandemic, and a 7% decrease from the same week last year.*


$336,343,348

The total volume of sales for the week (contracts signed, not closings). This is an 18% increase from the week prior, representing the fourth-highest total since the pandemic began. This is a 1% increase from the week of March 9-15 2020, and a 1% decrease from the same week last year.*




47

The number of Condo contracts signed.

99

The number of Co-op contracts signed.

6

The number of Townhome contracts signed.


$22,250,000
157 West 57th Street, 58A

The most expensive signed contract for the week. If this closes at ask, it represents a 35% reduction vs. the previous 2014 sale.


12
The number of new development contracts signed for the week. This is twice as much as last week’s total, but down compared with most of last month. However, for the fourth consecutive week, the Benson at 1045 Madison has put a unit asking $13,000,000 or more into contract.*


-6.5%

The average percentage off the last asking price for this week’s signed contracts.


207
The number of new listings for the week. This is more than double compared to last week’s Thanksgiving slowdown.


9,945
The total number of active condo, coop, and townhome listings in Manhattan today, December 7th, 2020. For the first time since the week of September 14th, there are fewer than 10,000 units on the open market.


*Note: Legacy signed contracts at 130 William that have likely been accumulating since 2018 continue to hit the system for the first time, skewing last week’s data.