- 201 contracts were signed in resale last week representing a 27% decline over the prior year but an 8% increase from the week prior.
- Last week 145 contracts were signed on coops, representing a 19% gain from the week prior and just a 10% drop from last year. Condo contract signings were down 3% from last week and 58% year over year, reflecting the decreased volume in the New Development market in comparison to 2021.
- For inventory, the absorption rate in November rose for the third straight month to 6.0. Downtown between 14th and 34th Street remains the tightest market with a supply of 4.8 months. The West Side follows at 5.1 months.
- Properties in need of renovation are seeing increased hesitation from buyers who continue to show preference for renovated property.
