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- Contracts signed asking over $5M fell for the first time in four months. March 2020 saw 41 deals asking over $5M, down 37% annually to a ten-year low for March.
- Supply fell as sellers pulled listings off the market and new listings plummeted. Sponsor listings actually rose, but in the resale market listings fell 25% versus February.
- ·Days on market unsurprisingly increased. Buyers indeed waited longer before signing a contract this March, but new development sales also skewed the average.
- Fewer sales over $2,400 per square caused price figures to drop. Average price per square foot at $2,659 declined 8% due to fewer penthouse and high-floor sales.
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