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Good Morning!

In this month's edition of my market update I have included: i) events in and around New York City during the month of March (see Inbox Concierge below), ii) an update on Brooklyn apartment and townhouse new listings and contract signings, iii) our 10 year market report on Manhattan townhouses, iv) 
our February report on Manhattan inventory and v) various articles I hope you'll find of interest. Click the images below for more details.

Enjoy and please let me know if you have any questions or need real estate assistance.

All the Best,
Steve

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Steven Segretta
Licensed Real Estate Salesperson
718-878-1889
Top Agent - BHS Park Slope 2021
Top 5 Agent - BHS Brooklyn 2020, 2021 
America’s Best Agents - RealTrends 2021
ssegretta@bhsusa.com
View My BHS Web Page
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NYC Events
Click the image above for curated events in and around New York City during the month of March.
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Top Agent 2021
Thanks for helping me achieve Top Agent in Park Slope and Top 5 in Brooklyn at BHS!
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Brooklyn New Listings and Contract Signings
The market in Brooklyn continues its torrid pace. While listings are up year-over-year, demand continues to keep up with new supply with newly listed properties continue to move very quickly.  Supply/demand dynamics vary by neighborhood, but the overall Brooklyn market continues to be very strong with upward movement in prices. 

On a year-over-year basis, new listings of townhouses across Brooklyn in February rose from 346 to 424. Also, during that same time period, the median home price of newly listed townhomes across Brooklyn increased from $1.25 million to $1.368 million and the average price per square foot increase from $651 to $811. Also during that time, contract signings increased from 150 to 152 and days on market fell from 108 to 89.

With respect to apartments during that same time period, new listings increased from 617 to 739, median apartment prices rose from $719.5K to $860K, and the average price per room increased from $231K to $295K.  Additionally, contract signings increased from 427 to 501 and days on market fell from 117 to 91 days.
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Manhattan 10 Year Townhouse Report
Our Manhattan townhouse report summarizes 1-3 family home sales from 2012-2021.  Sales in 2021 reached their highest level since 2007. The strength of the market can also be found in the decline in time on the market, and the reduction in price discounts given by sellers in 2021
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Manhattan Inventory - Feb 2022
Manhattan apartment inventory ticked up to a 4.1-month supply in February, which is still indicative of a seller’s market. The market currently has a 4.5-month supply of condos, and a 3.7-month supply of co-ops. The West Side and South of 14th Street were the tightest markets in February, with just 3.3-month supply of apartments for sale
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Organizations You Can Support to Help the People of Ukraine
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What does 'right of first refusal' mean when you are selling a NYC condo?
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To Boost Affordable Housing, Brooklyn Pols Want to Cut New-Development Parking Requirements
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Want to try wallpaper in your NYC apartment or brownstone? Here's what you need to know
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Condos are likely coming to the Grand Prospect Hall Location
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Rates continue to rise