Thanksgiving Newsletter + Recipe 2022

  • 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.

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