Reuveni in Real Time: January 4th, 2021

January 4, 2021

With one of the most challenging years in history now behind us, the Manhattan marketplace began 2021 with a bang.

Here is your weekly Reuveni in Real Time report for the week of December 28, 2020 – January 3rd, 2021!


153
The number of signed contracts for the week. This is a 23% increase from the previous week (December 21-27, 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 61% increase from the same week in 2020.*


$357,558,500

The total volume of sales for the week (contracts signed, not closings). This is a 46% increase from the week prior. This is a 7% increase from the week of March 9-15 2020 and a substantial 112% increase from the same week in 2020.*




52

The number of Condo contracts signed.

94

The number of Co-op contracts signed.

7

The number of Townhome contracts signed.


$35,000,000
20 East End Avenue, PH

The most expensive signed contract for the week. This not only equals the most expensive UES sale of 2020 but is apparently the most expensive sale in history on East End Avenue.


14
The number of new development contracts signed for the week. This is above last week’s total, but below the post-pandemic peak from November and December.*


-5.9%

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


67
The number of new listings for the week. This is the third consecutive week with fewer than 100 new listings hitting the market, which is not surprising for this time of the year. Also worth noting: this is roughly half the number of new listings that hit the market at this time last year.


8,821
The total number of active condo, coop, and townhome listings in Manhattan today, January 4th, 2021. This is the first time since the second week of August 2020 with fewer than 9,000 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.