November 2015 Manhattan and Brooklyn Sales Market Report

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Manhattan Trends:

• Overall Manhattan contract activity was level compared to last November, but lower than October, which is typical for this time of year.
• Total borough-wide inventory declined 5% month-over-month, and fell 3% since last November.
• Manhattan listings priced below $1 million continued their steady decline during November, and comprised 30% of total properties available.  In contrast, the number of listings priced over $3 million continued to climb.  34% of Manhattan listings during November were priced over $3 million.

Brooklyn Trends:

• Sales in Brooklyn remained strong, and continued a 17-month streak of year-over-year growth.  Buyers signed 18% more contracts this November compared to last, and sales activity remained steady when compared to October.
• Total Brooklyn inventory declined 3% since October, but increased 4% year-over-year.
• The market-wide median sales price increased 10% since November 2014, and rose 6% since October – to a median price of $950,000.

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