Market Reports

Manhattan's rental prices have continued to move sideways since peaking in the summer as new leasing expanded sharply. Net effective median rent rose annually for the eighteenth month to the highest February on record. Listing inventory fell month over month at a much higher rate than the February decade average. Non-doorman price trend indicators continued to see a higher year over year increase than doorman price trend indicators. Luxury median rent remained at the third highest on record, and premiums paid over the landlord ask was nearly twenty percent. Luxury listing inventory has expanded from last year’s record low but remains below pre-pandemic levels.

Rents in Brooklyn fell from record and near-record levels last month as new lease signings surged. Net effective median rent rose to the highest February on record. New lease signings increased annually for the first time in five months. Bidding war market share has remained at about one in five new leases over the past year.

Average and median rents in Northwest Queens rose annually to the highest February on record. The market share of two-year leases reached an all-time high as new leases reached their second-highest level for a February on record.

The median rent in Manhattan rose to the third-highest on record as the vacancy rate slipped for the first time in nine months. The median rent was the highest on record for the month of January and the third-highest overall. The number of new leases expanded annually for the first time in three months. Non-doorman price trend indicators grew annually more than doorman price trend indicators. New development new leases rose year over year at five times the rate of non-doorman rents. Luxury median rent remained at the third highest on record as luxury bidding wars accounted for nearly one in five rentals. Luxury listing inventory expanded but remains below pre-pandemic levels.

Average rent in Brooklyn soared above the August peak as median rent rose to the second-highest on record. New lease signings rose month over month for the first time in four months. Concessions paid by the landlord were at their highest level since the fall of 2021.

Average and median rents in Northwest Queens surged over the summer highs to set new records. Net effective average and median rents also rose to the highest on record. New lease signings slipped annually but were sharply higher than pre-pandemic levels, while the market share of two-year leases was at its highest level in two years.

Despite doubling mortgage rates in the Manhattan co-op and condo sales market, sales only slipped, and listing inventory rose nominally higher. Robust sales momentum in 2021 enabled sales to reach their second-highest total on record. Median sales price reached its highest level on record as average sales price reached its second-highest. Listing inventory edged higher but was consistent with the two-decade average. By bedroom, the median sales price rose annually across all sizes, with four+ bedrooms seeing the most growth. Sales expanded annually by bedrooms except for studios and two bedrooms. Listing inventory by bedroom expanded annually by size except for studios.

In the Manhattan townhouse sales market, the market ended the year with record prices, elevated sales, and listing inventory remaining below pre-pandemic levels. The median sales price reached a new high while all price trend indicators rose annually and were higher than pre-pandemic levels. While listing inventory increased year over year, it remained below pre-pandemic levels. Sales slipped from year-ago levels but were sharply higher than pre-pandemic levels. Luxury price trend indicators increased annually and remained above pre-pandemic levels. The number of luxury listings expanded year over year but remained well below pre-pandemic levels. The average width of a luxury townhouse was the narrowest since 2014. Single family sales slipped from last year’s record to the second-highest in twenty-five years of tracking. Compared to co-op and condo sales, the market share of townhouse sales remained just above two percent.

The median rent in Manhattan continued to slip monthly after peaking in July, yet December saw the highest net effective median rent on record for a December. The vacancy rate rose for the eighth straight month. Doorman net effective median rent rose month over month as non-doorman rent slipped. New development new leases increased annually, while new leases for existing rentals declined. Luxury median and average rent rose to the third highest on record as luxury listing inventory remained sharply below pre-pandemic levels.

The median rent in Brooklyn was unchanged month over month but remained below the August peak. In addition, new lease signings declined annually for the third consecutive month, yet the amount of landlord concessions paid was at its highest level in more than a year.

Northwest Queens median rent fell below the $3,000 threshold for the first time since May as new lease signings declined annually for the ninth consecutive month. The market share of landlord concession rose to its highest level since the spring.

The quarterly median sales price in Brooklyn declined year over year for the first time in two years but was still the third-highest on record. Bidding war market share rose to a new high, reaching nearly one-third of all closings as listing inventory declined annually for the second consecutive quarter.

The median sales price in Queens increased annually for the eighth consecutive quarter. As a result, bidding war market share rose to a new high, reaching nearly one-quarter of all closings as listing inventory declined annually for the fifth quarter remaining below pre-pandemic levels.

The median sales price in Queens increased annually for the eighth consecutive quarter. As a result, bidding war market share rose to a new high, reaching nearly one-quarter of all closings as listing inventory declined annually for the fifth quarter remaining below pre-pandemic levels.

In Riverdale, which includes Fieldston, Hudson Hill, North Riverdale, and Spuyten Duyvil, sales slipped for the first time in nearly two years. Bidding war market share increased to the third highest on record, almost one in five sales, as listing inventory declined annually for the third time in four quarters.

In Manhattan, the market metric to focus on in 2022 was the surprising restraint of new supply coming into the market. Median sales price slipped year over year for the first time since the pandemic era began but was well above pre-pandemic levels. The rate of annual sales growth went negative for the second straight quarter. Listing inventory slipped quarterly but was on par with pre-pandemic levels despite the sales slowdown. Co-op median sales price decreased annually for the first time in seven quarters while condo sales fell sharply year over year but remained above pre-pandemic levels. All luxury price trend indicators expanded annually for the fifth straight quarter. Luxury listing inventory expanded annually for the second quarter but was sharply below pre-pandemic levels. The average price per square foot of new development sales edged higher year over year but was sharply below pre-pandemic levels. New development sales declined sharply from the year-ago surge but remained significantly higher than pre-pandemic levels.

Northern Manhattan saw weaker price and sales trends at the end of 2022. For co-ops and condos, all price trend indicators declined annually and fell below pre-pandemic levels. Listing inventory declined year over year for the first time since the start of the pandemic era. For townhouses, all price trend indicators declined annually and fell below pre-pandemic levels. Townhouse listing inventory has been rising annually for two years.

The median rent in Manhattan drifted lower from its July peak but remained near record levels. Average and median rents were the third highest on record. This month saw the most significant monthly decline in new lease signings since the onset of the pandemic, as the vacancy rate rose for the seventh consecutive month. Doorman rents showed a weaker monthly price trend than non-doorman rents. New development listing inventory grew at a much faster rate than existing rentals. Luxury net effective median rent increased to the second highest on record, and luxury listing inventory expanded year over year for the fourth straight month. Luxury concessions were the third lowest on record.

The median rent in Brooklyn declined month over month for the second time since August. Price trend indicators declined month over month as prices slid below the August peak. New leases and listing inventory declined year over year for the past two months—the market share of landlord concessions and the amount expanded month over month.

Despite peaking in July, median and average rents in Northwest Queens were the second-highest on record. Listing inventory declined year over year for the past twelve months. The market share of landlord concessions has fallen annually for the sixteenth consecutive month.

Overall rental price trends in Manhattan showed stability as the high-end pressed to new records. Net effective median rent slipped month over month for the third straight month while the net effective average rent rose to a new record for the eighth time in ten months. Listing inventory fell annually for the sixteenth consecutive month. The doorman’s net effective average rent increased to a new high for the sixth consecutive month, and new development rose to its highest level on record. Luxury net effective median rent increased to a new high for the third straight month.

After peaking in August, the median rent in Brooklyn continued to flirt with new records for the past two months. Net effective median rent rose annually to the second-highest on record. The market share of bidding wars has accounted for one out of five new leases over the past two years. Listing inventory declined year over year for the eleventh time in twelve months, keeping the market tight.

In Northwest Queens, prices peaked from the prior month but continued to rise on a year over year basis. The number of new lease signings rose monthly for the first time in seven months as landlord concession market share declined year over year for the fifteenth consecutive month.

The median sales price in Brooklyn declined for the first time in eight quarters to the second-highest level. Bidding war market share rose to a new high, reaching nearly one-third of all closings. Listing inventory declined for the second quarter after rising annually for five quarters.

The median sales price in Queens rose annually for the eighth consecutive quarter but fell short of reaching a new high, as it has five times in the past seven quarters. Bidding war market share rose to a new high, reaching nearly one-quarter of all closings. Listing inventory declined annually for the fifth straight quarter remaining below pre-pandemic levels.

The median sales price in Queens rose annually for the eighth consecutive quarter but fell short of reaching a new high, as it has five times in the past seven quarters. Bidding war market share rose to a new high, reaching nearly one-quarter of all closings. Listing inventory declined annually for the fifth straight quarter remaining below pre-pandemic levels.

In Riverdale, which includes Fieldston, Hudson Hill, North Riverdale, and Spuyten Duyvil, the median sales price rose to a new high as sales slipped for the first time in nearly two years. Bidding war market share increased to the third highest on record, almost one in five sales, as listing inventory declined annually for the third time in four quarters.

Manhattan median rent continued to level off as luxury rentals pressed higher. The market share of rentals with landlord concessions fell to its lowest level in more than six years. The net effective median rent for existing rentals slipped to the second-highest level for the first time in eight months. Luxury net effective median rent increased to a new high for the third time in four months. The entry threshold for the luxury market expanded annually for the fifteenth consecutive month.

Rental prices in Brooklyn appeared to peak in August, moving sideways in September for the first time in eleven months. The market share of bidding wars continued to account for one out of five new leases. Listing inventory expanded annually for the first time in eleven months.

In Northwest Queens, median rent increased to new highs as the number of new lease signings fell for the sixth month. As a result, the landlord concession market share declined, continuing its trend for fourteen months.

Despite the decline from last year’s sales surge in Manhattan, levels remained significantly higher than in pre-pandemic conditions. Median sales price rose annually to the second highest on record for a third quarter. Sales and average price per square foot fell to the second highest on record, also for a third quarter. Listing inventory was up nominally from the prior year's quarter and pre-pandemic levels. Co-op sales fell year over year for the first time in six quarters, and condo sales fell year over year for the first time in seven quarters. Luxury price trend indicators expanded year over year for the fourth consecutive quarter. Luxury listing inventory expanded year over year but remained well below pre-pandemic levels. New development listings accounted for one-third of all luxury listings, consistent with the decade average. New development sales declined sharply from last year's unusual high but were significantly above pre-pandemic levels. The market share of new development sales was well above the decade's quarterly average.

In Northern Manhattan, listing inventory expanded as sales decreased across property types. For co-ops and condos, sales and median price declined year over year for the first time in seven quarters but remained well above pre-pandemic levels. Listing inventory slipped from the prior quarter’s high to the second highest on record. For townhouses, all price trend indicators fell year over year for the second time in three quarters. The number of sales fell year over year for the first time in seven quarters.

The record-setting median rent streak in Manhattan ended in August as prices began to plateau. Median rent and median net effective rent were the second-highest on record, ending a record-setting streak that began in February. The vacancy rate edged higher month over month for the fourth straight month. New leases rose month over month for the sixth consecutive month. The market share of one-year leases exceeds 50% for the first time since February 2021. Landlord concession market share for new developments was more than double existing rentals. Non-doorman rentals, representing roughly half the market, did not reach a record rent, unlike the doorman rental market. The market share of bidding wars accounted for one out of five new leases. Luxury net effective median rent rose annually to a new high as concessions fell to the third-lowest level on record. Luxury listing inventory was essentially unchanged from the prior year and well below pre-pandemic levels.

The record-setting median rent streak in Brooklyn continued for the fourth consecutive quarter. Net effective median rent and median rent rose to new highs. Landlord concession market share continued to slide, reaching its lowest level in five and a half years. The market share of bidding wars accounted for one out of five new leases.

In Northwest Queens, net effective median rent reached the third-highest on record as the pace of price gains eased. Median and median net effective rent fell month over month from the prior month's records. Landlord concession market share continued to slide year over year. The market share of bidding wars accounted for nearly one out of four new leases.

The net effective average rent in Manhattan exceeded $5,000, and the net effective median rent exceeded $4,000 respectively, for the first time. The market share for two-year leases reached its highest level since last November. Doorman's median rent reached a new high for seven consecutive months, and non-doorman median rent rose to a new record for the fourth month. Luxury net effective median rent increased year over year for the fifteenth successive month as the market share of bidding wars accounted for one out of four new luxury leases.

The net effective median rent in Brooklyn reached a new high for the third consecutive month. Landlord concession market share fell to its lowest level in five and a half years, while the bidding war market share occurred in nearly one out of four leases for the fourth straight month.

In Northwest Queens, net effective median rent reached a new high for the second time in four months. Both average and median rent and net effective average and net effective median rent set new records, and the market share of landlord concessions fell to its lowest level in seven years. In addition, leasing activity's new development market share fell to its lowest level in seventeen months.

Low listing inventory in Brooklyn continued to provide a firm base to sustain record price trends. Median sales price rose to a new record for the eighth time in nine quarters as listing inventory fell annually for the first time in six quarters. The number of sales rose year over year for the seventh consecutive quarter.

Price trends in Queens moved higher but at a more modest growth rate. Bidding wars rose to a new high, accounting for nearly one in four sales. Annual price gains and listing inventory declines continued to ease while sales rose annually for the sixth straight quarter, well above pre-pandemic levels.

Price trends in Queens moved higher but at a more modest growth rate. Bidding wars rose to a new high, accounting for nearly one in four sales. Annual price gains and listing inventory declines continued to ease while sales rose annually for the sixth straight quarter, well above pre-pandemic levels.

In Riverdale, which includes Fieldston, Hudson Hill, North Riverdale, and Spuyten Duyvil, low listing inventory continued to provide a firm base to sustain record price trends.  Average and median sales prices rose to the second and third highest on record, respectively as listing inventory showed nominal annual change over the past three quarters. Despite new records, the price trend growth rate has cooled sharply over the past year.

The average rent in Manhattan reached the $5,000 threshold for the first time as the vacancy rate remained under 2 percent. New leases expanded month over month for the fifth consecutive time. Doorman's net effective median rose to a record as landlord concessions fell to a new low. Luxury net effective median rent rose to a new high as landlord concessions fell to a new low. The luxury market share of bidding wars exceeded the non-luxury market share of bidding wars for the fourth straight month.

The net effective median rent in Brooklyn reached a new high for the second straight month as landlord concession continued to fall. Bidding war market share occurred in more than one out of five leases for the fourth consecutive month.

In Northwest Queens rental prices remained elevated as the market share of landlord concessions continued to fall. Net effective median rent and median rent reached their second-highest levels on record. While new lease signings fell annually, they were higher than the same period three years ago pre-pandemic.

Manhattan median sales price rose to a record high while the average sales price reached its third-highest. The number of sales increased to the highest total for a second-quarter since 2007. Cash buyer market share rose to the third-highest tracked, rebounding from the low recorded five quarters ago. Co-op median sales price rose to the highest on record, the fifth straight year-over-year gain. Condo median sales price also rose to the highest on record, the third straight year-over-year gain. Listing inventory for condos saw the largest first to second-quarter rise in at least eight years. Overall luxury price trend indicators continued to rise year over year. The number of new development sales more than doubled from the same period last year while new development listing inventory increased sharply year over year for the third consecutive quarter.

Northern Manhattan sales rose much faster than listing inventory, resulting in the continuation of a fast-paced market. For co-ops and condos, the average sales price rose year over year for the fifth straight quarter to reach a new high. Listing inventory also increased to a new high after five consecutive annual increases. For townhouses, all price trend indicators pressed higher year over year, rising collectively in three of the past four quarters. The number of townhouse sales has risen annually for the past six quarters by significant amounts.

The median rent in Manhattan reached the $4,000 threshold for the first time as lease signings continue to rise. New leases expanded year over year for the third straight month while the vacancy rate remained under two percent for the sixth consecutive month. Doorman's net effective median rent reached a new high for the fifth consecutive month. Luxury price trend indicators all rose to the second-highest on record while their share of one-year leases rose to a new high, exceeding half of all new leases.

The net effective median rent in Brooklyn reached a new high as landlord concession market share fell to a five-year low. Landlord concession market share fell to its second-lowest level in four and a half years. Bidding war market share was nearly one in four new leases for the second straight month.

In Northwest Queens net effective median rent rose to the second-highest on a record high as landlord concession market share fell to a six-year low. New leases fell annually for the second straight month after twelve months of gains.

The net effective median rent in Manhattan rose annually to a new high at the largest rate on record. The month saw the most significant annual decline in listing inventory on record and the vacancy rate remained under two percent for the fifth consecutive month. Doorman's net effective median rent surged annually at a record rate for the eighth time in nine months and non-doorman rent rose by a record rate that was higher than for doorman rent over the past two months. Luxury median rent and luxury net effective median rent rose year over year to their second-highest levels. Bidding wars accounted for more than one-third of all luxury rentals. Luxury landlord market share of concessions fell to the lowest on record for the third straight month.

The net effective median rent in Brooklyn increased year over year to the third-highest level on record at a rising rate for the past six months. Landlord concession market share fell to its second-lowest level in four and a half years. New lease signings reached the second-highest level for the month of April on record.

In Northwest Queens, net effective median rent increased year over year at the second-largest rate to the highest level on record. Listing inventory collapsed annually for the fifth consecutive quarter. Landlord concession market share fell to its second-lowest level in five and a half years.

The net effective median rent in Manhattan rose to the highest on record but with a deceleration in the annual growth rate. The vacancy rate remained below two percent for the fourth consecutive month. New leasing volume surged from February but fell annually for the sixth successive month. Bidding wars accounted for one in five new lease signings. Doorman's net effective median rent surged yearly for the ninth straight month to the highest level on record. Non-doorman rent increased at a higher annual rate than doorman rent for the first time in fifteen months. Luxury price trend indicators rose to their third-highest levels on record and were well above pre-pandemic levels. Luxury listing inventory dropped to its lowest March level in six years of tracking.

The net effective median rent in Brooklyn exceeded pre-pandemic levels for the first time, while new lease signings rose annually for the first time in three months. Listing inventory fell year over year by more than eighty percent for the fourth consecutive month.

In Northwest Queens, new lease signings surged annually for the twelfth consecutive month as new lease signings reached their highest level for March in at least a decade. Net effective median rent rose yearly for the seventh successive month. Listing inventory fell year over year by more than seventy percent for the fourth straight month.

Low listing inventory in Brooklyn has kept the record pricing pattern going. The first quarter saw the highest number of sales since 2006 after six consecutive quarters of annual increases. The market share of sales above $1 million rose to a record level. Median sales price reached a new record in the past eight quarters for the seventh time.

Record prices in Queens continue to define the borough’s housing market. There was the highest number of first-quarter sales since 2007 after five consecutive quarters of annual increases. Listing inventory fell year over year for the third successive quarter. Median sales price reached a new record for the fifth time in the past six quarters.

Record prices in Queens continue to define the borough’s housing market. There was the highest number of first-quarter sales since 2007 after five consecutive quarters of annual increases. Listing inventory fell year over year for the third successive quarter. Median sales price reached a new record for the fifth time in the past six quarters.

In Riverdale, which includes Fieldston, Hudson Hill, North Riverdale, and Spuyten Duyvil, overall price and sales trends continued to press higher. The number of sales increased annually for the fifth consecutive quarter. The median sales price last declined year over year in the third quarter of 2020. Listing inventory increased year over year for the sixth time in seven quarters.

Sales in Manhattan continued on a tear, setting records for the third straight quarter as the market catches up with the region. The quarter saw the highest number of sales for a first quarter in thirty-three years of tracking. Overall price trend indicators were higher than in the same period before the pandemic. Bidding war market share rose to the highest level in four years for the fourth straight quarter. Co-op median sales price posted significant annual gains for the fifth consecutive quarter and was higher than pre-pandemic levels. Condo sales were up by more than fifty percent annually to reach the most first-quarter sales in fifteen years of tracking. Luxury listing inventory fell annually for the third straight quarter and remained below pre-pandemic levels. The luxury market saw the second-highest market share of bidding wars in five years of tracking. New development price trend indicators continued to remain well below pre-pandemic levels. New development sales were nearly double year-ago levels, the fourth straight quarter of significant annual increases.

In Northern Manhattan, sales rose much faster than listing inventory resulting in the continuation of a fast-paced market. For co-ops and condos, median sales price rose year over year for the fourth quarter but fell short of pre-pandemic. Sales nearly doubled from the prior-year quarter and were more than double pre-pandemic levels. For townhouses, the average sales size continued to fall after peaking at the end of 2020, skewing price trend indicators lower. Falling months of supply suggested the fastest market pace in more than a year and much quicker than pre-pandemic.

Price trend indicators in Manhattan rose to record levels by record rates as listing inventory continued to collapse. The market share of rental bidding wars rose year over year from nominal levels to nearly one out of five new lease signings. Net effective median rent and all the face rent price trend indicators rose to their highest levels on record. The vacancy rate fell to its lowest level for the month of February since 2008. Listing inventory fell year over year by its fastest rate on record. Doorman’s net effective median rent surged year over year for the seventh straight month by a record rate. Non-doorman net effective median rent jumped annually at a record rate for the second straight month for the fifth consecutive month of gains. All luxury price trend indicators reached new records after more than a decade of tracking while luxury listing inventory fell to a record low for the third straight month.

All price trend indicators in Brooklyn rose annually but fell short of pre-pandemic levels. Net effective median reached the third-highest level for a February in a dozen years. New lease signings rose to the second-highest February since tracking began in 2008 as listing inventory fell year over year by the second-highest rate on record.

In Northwest Queens, price trend indicators rose annually as listing inventory continued to plunge. Net effective median rent rose to its second-highest level for the month of February as the number of new leases increased to the second-highest on record. Listing inventory fell year over year by the second-highest rate on record.

A low vacancy rate combined with a rapid drop in listing inventory led to record prices in Manhattan. Net effective median rent increased annually at its highest rate to the second-highest January ever recorded. Listing inventory fell year over year at a record rate for the sixth straight month, and the vacancy rate fell below pre-pandemic levels for the second consecutive month. Doorman median rent surged year over year for the sixth straight month at a record rate, and non-doorman rent jumped annually at a record rate but remained below pre-pandemic levels. Luxury average rent rose to the highest level in more than eleven years, and luxury listing inventory fell to the lowest in six and a half years of tracking. The luxury landlord market share of concessions dropped by half before the pandemic began.

Against the backdrop of a sharp decline in listing inventory, heavy leasing volume in Brooklyn led to rapid rental price gains. As a result, listing inventory fell year over year by the highest rate on record. New lease signings rose to the second-highest January since tracking began in 2008. It follows that net effective median rent rose year over year at the third-highest rate for the month of December.

In Northwest Queens, record January leasing volume and a rapid decline in listing inventory resulted in a surge in rental price gains. Subsequently, the net effective median rent rose at its second-fastest annual rate on record. In addition, listing inventory fell year over year by the largest rate on record. Consequently, the number of new leases reached its highest level for January on record.

Manhattan co-op and condo sales more than doubled year over year as the housing market was the last in the region to boom. As a result, median sales price rose to its second-highest level in thirty-two years of tracking. Listing inventory fell sharply year over year but was consistent with the two-decade average. The market was moving at its fastest pace since 2015 due to surging sales and falling listing inventory. Over the decade, the number of four+ bedrooms sales rose at twice the rate, or higher, ofany other size category. Since 2012, the median sales price rose the most of all size categories. Low mortgage rates and strong economic conditions for homebuyers fueled unusually heavy demand.

Manhattan townhouse sales surged from last year’s pandemic lows, overpowering supply growth. Months of supply showed the fastest-moving market in twenty-five years. After falling to a new low last year, listing inventory surged annually at the highest rate on record. Days on market surged to a new high as heavy demand cleared older listings from the market with the surge in sales. Single family townhouse sales more than tripled year over year to their highest total on record. The average price per square foot of 3-5 families pressed higher year over year as the other size categories slipped. Median sales prices over the decade saw significantly larger gains in two-family and 3-5 family markets than for single families. Luxury price trend indicators pressed higher and remained above pre-pandemic levels. The number of luxury listings rose annually but remained sharply below pre-pandemic levels. The average luxury sales size fell from the prior year but remained well above the decade average.

Price trends in Brooklyn continued their streak of setting records as sales surged. Median sales price reached a new record for the sixth time in the past seven quarters. Year over year sales growth above the $1 million threshold was triple the growth rate below the same threshold. One in five-borough sales closed above the last asking price.

Price trend indicators set records in Queens for the third time in the past four quarters. Median sales price and average sales price set records for the third consecutive quarter and year to date. The market share of bidding wars reached the second-highest level on record. The decline of the large listing inventory resulted in the fastest-paced market in more than three years.

Price trend indicators set records in Queens for the third time in the past four quarters. Median sales price and average sales price set records for the third consecutive quarter and year to date. The market share of bidding wars reached the second-highest level on record. The decline of the large listing inventory resulted in the fastest-paced market in more than three years.

In Riverdale, which includes Fieldston, Hudson Hill, North Riverdale, and Spuyten Duyvil, price and sales trends remain well above pre-pandemic levels. The median sales price was the second-highest level on record. In addition, listing inventory fell for the first time in six quarters and the number of sales rose at the third-highest annual rate on record.

The net effective median rent in Manhattan reached its highest level, and new lease signings fell by its highest annual rate respectively for the month of December. Listing inventory fell year over year at a record rate for the fifth consecutive month and is now below pre-pandemic levels—the most significant annual decline in new lease signings for the month of December on record. Doorman median rent has risen annually at a record rate for the past three months and is above the same period two years ago. Non-doorman rent has increased annually for three straight months but remains below two year-ago levels. Luxury net effective median rent and the net effective average rent rose to the second-highest level on record and are higher than pre-pandemic levels. Luxury listing inventory fell year over year for the eighth consecutive quarter. Luxury landlord concessions have fallen by half from the same period last year.

The net effective median rent in Brooklyn reached its fourth-highest level, and listing inventory fell at its highest annual rate for the month of December. New lease signings rose year over year for the sixteenth consecutive month. Listing inventory fell at its highest annual rate on record. Net effective median rent increased annually at the fourth-highest rate on record for the month of December.

In Northwest Queens, listing inventory fell at its highest annual rate while net effective median rent surged by its fasted annual rate respectively, on record. Net effective median rent rose above the same period two years ago for the first time in nineteen months. Net effective median rent rose at its fastest year-over-year rate on record. Listing inventory fell annually at its most significant rate in more than a decade.

Despite the year-end acceleration of the latest COVID variant, the Manhattan market rushed to catch up with the surrounding region and then some. Sales rose to their highest total for a fourth-quarter in thirty-two years. Listing inventory fell by its most significant annual rate in seven years, with the largest market share of bidding wars since early 2018. Overall, co-op price trend indicators moved above the prior-year level as larger apartments saw more significant gains. Luxury median sales price equaled the prior-year quarter but were significantly above the same period two years ago. New development sales saw their highest market share in two and a half years and nearly doubled from the same period two years ago.

In Northern Manhattan, sales and price trend indicators finished 2021 with annual gains. All price trend indicators rose year over year for co-ops and condos and were above the same period in 2019. Sales nearly doubled from the prior-year quarter and rose sharply from the same period two years ago. For townhouses, all price trend indicators were above both prior-year levels and levels in 2019. Listing inventory surged annually yet remained well below levels seen before the pandemic.

Manhattan's net effective median rent surged by a record annual rate for the second straight month. The market share of landlord concessions, listing inventory, and vacancy fell annually at record rates for the fourth consecutive month. Listing discount from the original asking price fell to its second tightest level on record. Median rent for doorman buildings surged by the highest rate over nine years as non-doorman median rent increased annually for the second time in nineteen months. Existing median rent surged annually at a record rate, exceeding the new development rate for the first time in ten months, while the market share of rentals at or above $15,000 rose to its highest market share in more than a decade. Luxury listing inventory fell year over year at the second-highest rate in five years of tracking. Luxury landlord concessions have been lower than non-luxury landlord concessions for twenty-six straight months.

The most new lease signings in Brooklyn occurred for the month of November in more than a decade. New lease signings rose annually for the fifteenth straight month. The amount of concessions paid by landlords fell to a record low while net effective median rent rose year over year for the first time in seventeen months.

In Northwest Queens, more new leases were signed for a November in more than a decade. Listing inventory fell sharply month over month since the beginning of the year. Two-year leases comprised most of the signings, an inversion from the beginning of the year.

The net effective median rent in Manhattan surged annually by the highest rate in a decade. New lease signings fell to their lowest level in a year but remained higher than the decade average for an October. Median rent for doorman buildings surged by the highest rate in at least nine years as non-doorman median rent increased annually for the first time in eighteen months. The vacancy rate fell sharply from its February peak as elevated new leasing volume removed slack from the market. Consistent with the market shift towards higher-priced rentals, the concession market share for luxury rentals was half that of the remainder of the market. At the same time, new development median rent rose at twice the rate as existing rentals.

Brooklyn saw the highest number of new lease signings for an October since tracking began in 2008. Median net effective rent slid year over year for the sixteenth consecutive month and remains below the same period two years ago. The amount of concessions paid by landlords returned to the January high, but the market share of rentals with landlord concessions fell sharply from the near-record last year. The market share concessions fell year over year at a rising rate for the past six months.

In Northwest Queens, the month of October experienced the highest number of new lease singings for that month since tracking began in 2011. Net effective median rent increased annually for the third time in four months. The market share of landlord concessions fell by more than a third from the near-record levels seen last year.

The year-over-year increase in new lease signings in Manhattan continued to ease as concessions given by landlords slid. Net effective median rent rose year over year but fell short of the same period in 2019. The number of new lease signings rose year over year for the twelfth straight month, but at a more modest rate. The market share of new leases with landlord concessions fell to their lowest rate in nearly four years. Doorman median rent has been rising sharply in recent months as non-doorman median rent continued to decline. New development median rent continued to expand year over year as existing median rent remained flat. New leases at or above $10,000 per month saw its largest market share on record. Luxury listing inventory fell by more than half over the past year to its lowest level since 2015.

The year over year increase in new lease signings in Brooklyn was the most for a September since 2008. Net effective median rent rose month over month for two of the past three months. The market share of studios and 1-bedrooms new lease signings rose year over year, reflecting the discounts available.

In Northwest Queens, the year over year increase in new lease signings more than doubled but fell short of setting a record for the first time in six months. The number of new leases more than doubled year over year and rose by a third from the same period two years ago. Net effective median rent rose month over month for two of the past three months. The market share of landlord concessions remained higher with smaller apartments.

Price trends in Brooklyn continued their streak of setting new records as sales surged. Median sales price and average sales price rose to new records for the fourth consecutive quarter. The number of sales reached their highest level for any quarter in fifteen years. Months of supply fell to their lowest level and the fastest pace in three and a half years.

Price trend indicators set records in Queens for the third time in the past four quarters. Median sales price and average sales price set records for the second consecutive quarter. Sales more than doubled from the prior-year quarter to their highest total in nearly twelve years and months of supply moved at the fastest pace in nearly four years.

Price trend indicators set records in Queens for the third time in the past four quarters. Median sales price and average sales price set records for the second consecutive quarter. Sales more than doubled from the prior-year quarter to their highest total in nearly twelve years and months of supply moved at the fastest pace in nearly four years.

In Riverdale, which includes Fieldston, Hudson Hill, North Riverdale, and Spuyten Duyvil, price trends and sales rose above prior year and two year-ago levels. Median sales price and average sales price rose over the prior year quarter and the same period two years ago. Months of supply fell sharply to the fastest-paced market in two years, and the number of sales rose to their highest total in sixteen years.

Sales levels in Manhattan surged annually at a record rate to the highest total in more than thirty-two years. Sales more than tripled annually to the highest quarterly total in more than thirty-two years. Listing inventory fell sharply from the prior-year quarter but remained above the third quarter decade average. The market share of bidding wars rose to its highest level in three years. Months of supply indicated the pace of the co-op market was the fastest seen in four years. All co-op price trend indicators moved above the prior-year level and from the same period two years ago. All condo price trend indicators fell annually, sharply skewed by the drop in average sales square footage. Condo listing inventory declined from year-ago levels but was consistent with the same period two years ago. The highest market share of luxury bidding wars in at least five years. New development sales more than tripled from the prior-year quarter and nearly doubled from the same period two years ago.

In Northern Manhattan, sales and price trend indicators continued to rise year over year. All price trend indicators rose year over year for co-ops and condos, with average sales price setting a record and the number of sales more than tripling while listing inventory also rose to a new record. For townhouses, all price trend indicators pressed higher year over year while their sales more than tripled and their listing inventory nearly doubled as the average sales size skewed lower.

New lease signings in Manhattan rose to their highest level for an August since at least 2008. Listing inventory continued to fall precipitously, down by more than half since January, and net effective median rent fell annually by its lowest rate in fifteen months. Doorman median rent rose year over year as non-doorman median rent declined. New development median rent continued to expand annually as existing median rent fell. Luxury concession market share was lower than non-luxury concession market share and luxury median rent rose annually as non-luxury median rent slipped. Downtown was the only region of the four main regions not to see an annual decline in the median rent.

New lease signings in Brooklyn climbed to their highest point for an August in at least 13 years. This was also the fourteenth straight month with an annual decline in the net effective median rent despite seeing the lowest amount of landlord concessions in a year.

In Northwest Queens, new lease signings surged to their second-highest level since 2008. Net effective median rent slipped year over year as listing inventory rose for the sixteenth straight month. The market share of apartments with landlord concessions fell by nearly a third since peaking late last fall.

Heavy new leasing volume in Manhattan continued as price trends continued to climb towards pre-COVID levels. The number of new lease signings for July was the highest on record since tracking began in 2008. Listing inventory declined year over year for the first time in fifteen months. Net effective median rent slipped annually by its lowest rate since June of 2020 and doorman median rent rose year over year for the first time since May 2020. New development median rent expanded annually as existing median rent continued to decline. The studio market showed the largest annual decline in median rent while three or more bedrooms showed the only gain. All price trend indicators for the at or above $10 thousand threshold saw no annual declines. The West Side was the only one of the four main regions not to see an annual decline in the median rent.

The number of new leases signed in Brooklyn remained high as the market continued to tighten.  New leases signings were the highest for a July since 2008. This was the thirteenth consecutive month of year over year declines in net effective median rent but the rate is easing.

In Northwest Queens, rental price trends rose annually as reliance on concessions edged lower. The highest number of new leases were signed for July in more than a decade. Net effective median rent rose annually for the first time since April of 2020. The amount of landlord concessions has fallen by nearly a third since peaking last January.

The number of new lease signings in Manhattan continued to set records as the length of leases expanded. New lease signings rose to their highest level since tracking began in 2008. The average lease length rose each month since January as tenants lock in discounts. For the sixth straight month, non-doorman rental fell year over year at a higher rate than doorman rentals. New development leasing market share was the highest June in eight years. The lowest price tranches of the market saw the most year-over-year price weakness.

The Brooklyn market saw the third-highest new lease signings total on record as rental prices stabilized. New lease signings saw their second-highest June total on record since 2008. Concessions paid by landlords fell to their lowest level since September. As a result, net effective median rent rose month over month for the third time in four months.

Record new leasing activity in Northwest Queens has helped moderate rental price declines. The number of new leases signed reached the third-highest monthly total since 2011. Listing inventory fell by half since January but remained elevated. Rental price trends continued to remain weakest in smaller apartments.

Record prices in Brooklyn were set for the third consecutive quarter pulling more listing inventory onto the market. The number of sales reached their highest level for a second-quarter since 2007. Listing inventory has been slowly returning, rising above the second quarter decade average.

Price trend indicators set records in Queens as the number of sales doubled from the prior year. Median sales price and average sales price rose to their highest levels on record. The number of sales more than doubled from the prior-year quarter. Listing inventory expanded year over year for the fourth consecutive quarter.

Price trend indicators set records in Queens as the number of sales doubled from the prior year. Median sales price and average sales price rose to their highest levels on record. The number of sales more than doubled from the prior-year quarter. Listing inventory expanded year over year for the fourth consecutive quarter.

In Riverdale, which includes Fieldston, Hudson Hill, North Riverdale, and Spuyten Duyvil, sales reached their highest total in three years as price trends edged higher. The number of sales nearly tripled, rising year over year for the second consecutive month. Listing inventory expanded annually for the fourth straight quarter but overpowered by sales gains. As a result, median sales price rose year over year for the third straight quarter.

The Manhattan market approached robust conditions with rising prices, surging sales and more bidding wars. Median sales price rose to its highest level in eight quarters, the sixth-highest result in thirty-two years. The number of sales surged to its highest quarterly total in six years as cash buyers returned. The market share of bidding wars rose to normal levels but was the highest observed in two and a half years. Resale median sales price rose to the highest on record since tracking began in 2003. The number of co-op sales surged annually at the highest rate in more than eleven years. The year over year surge in condo sales overpowered listing inventory gains, making the market pace much faster. Luxury listing inventory rose year over year at approximately one third the rate of non-luxury supply. The number of new development sales surged at the highest year over year rate in more than seventeen years of tracking. There were the most new development sales above the $3 million threshold in two years.

The number of sales in Northern Manhattan surged year over year, outpacing the growth in listing inventory. For co-ops and condos, the number of sales nearly doubled from the year-ago quarter, outpacing listing inventory growth. The average sales size jumped year over year, pushing price trend indicators higher. For townhouses, the number of sales nearly doubled from year-ago levels as price trends showed mixed results. Listing inventory nearly doubled to match sales gains as marketing time expanded.

New leasing activity in Manhattan continued to boom as rental prices showed stabilization. The number of new lease signings rose to their highest level since tracking began in 2008. Net effective median rent rose month over month for the fifth time in six months at the highest rate in a decade. The average lease length rose sharply in the past three months as renters sensed that prices were stabilizing. The amount of rental concessions provided by landlords rose to their third-highest level on record. Listing inventory fell substantially from the record set in January but remains elevated. Rental price trends remain weakest in smaller apartments. New development leasing market share rose to its highest level in more than a year.

Continued significant new leasing activity in Brooklyn helped stabilize pricing. The number of new leases reached a record in three of the past four months. Net effective median rent rose month over month for the second time in three months at the highest rate in more than a decade. The amount of rental concessions given by landlords rose again to their third-highest level since 2010.

In Northwest Queens, heavy new leasing activity helped begin to stabilize pricing. The number of new leases reached its highest level since 2011, representing a six-fold annual increase. The market share of landlord concessions was more than double the market share of existing rentals.

The highest number of Manhattan lease signings on record, spurred on by continued price declines. Month over month net effective median rent declined for the first time in five months and at the highest annual rate in a decade. Landlord concessions rose to their second-highest level, falling just short of the record set back in January. Both doorman and non-doorman rentals saw their largest year-over-year declines in nearly a decade of tracking. Existing rentals saw their largest annual decline in six and a half years and fell at twice the rate of new development rentals. Consistent with new development, the market share of luxury market concessions continued to be less than the remainder of the market.

The Brooklyn market saw record new lease signings combined with a record annual decline in net effective median rent. Landlord concessions rose to their second-highest level, falling just short of the record set back in January. While median rent for all apartment sizes fell year over year, one-bedrooms and two-bedrooms fell annually at record rates.

The number of leases in Northwest Queens surged to a new record as net effective median rent fell month over month for the twelfth time. Landlord concessions jumped to their second-highest level, falling short of the record set back in January. The market share of new development listings rose to its highest level in eighteen months.

In Manhattan, net effective median rent began to show month to month stability in the new year. New leasing signings for a March reached their highest level since tracking began in 2008. The dollar amount of rental concessions rose to the third-highest level since 2008. Doorman new lease signings continued to rise by about twice the rate as non-doorman lease signings, while existing new lease signings increased by more than twice the rate as new development lease signings. Landlord concessions market share for the luxury market was nearly half that of the non-luxury market. Lower price tranches continued to see a larger percentage decline in median rent than higher tranches.

New lease signings in Brooklyn have continued to rise sharply since the fall, up sharply year over year for the seventh consecutive month. The net effective median rent fell year over year for the ninth straight month. Lower price tranches continued to see a larger percentage decline in median rent than higher price tranches.

Despite the steady decline in rental price trends bringing greater affordability to Northwest Queens, new lease signings have not trended higher. Net effective median rent fell year over year for the eleventh straight month. New lease signings fell year over year for the second time in three months. The market share of landlord concessions has fallen by nearly half since peaking in November.

Record prices in Brooklyn were reached for the second straight quarter with heavy sales volume for a first quarter. Median sales price and average sales price jumped year over year to reach new records. The first quarter saw the most sales in fourteen years, and listing inventory trended higher year over year for the first time in six quarters.

Price trend indicators and sales in Queens continued to post large year over year gains. Median sales price and average sales price rose year over year to reach their second-highest level on record. The number of sales increased year over year for the first time in four quarters, and listing inventory expanded year over year for the third straight quarter.

Price trend indicators and sales in Queens continued to post large year over year gains. Median sales price and average sales price rose year over year to reach their second-highest level on record. The number of sales increased year over year for the first time in four quarters, and listing inventory expanded year over year for the third straight quarter.

In Riverdale, which includes Fieldston, Hudson Hill, North Riverdale, and Spuyten Duyvil, the number of sales pressed upward annually for the first time in a year. The number of sales rose year over year for the first time in four quarters, and listing inventory expanded annually for the third straight quarter, but at a diminishing rate. Median sales price rose annually for the third time in four quarters.

Manhattan sales exceed year-ago levels for the first time in four quarters. The market share of bidding wars fell to its second-lowest level in nearly thirteen years of tracking. Listing inventory continued to see annual increases skewed towards smaller apartments while median sales price for co-ops and condos individually declined year over year. Co-op sales more than doubled since the end of the spring lockdown, and condos saw the highest market share of financed sales in seven years of tracking. All luxury price trend indicators fell short of year-ago levels, seeing larger declines than non-luxury. New development sales below the $3 million threshold surged year over year.

Listing inventory for co-ops and condos in Northern Manhattan trended lower quarter over quarter for the second straight quarter but remained well above year-ago levels. Price trend indicators for townhouses showed mixed year over year results while sales expanded.

New lease signings in Manhattan surged to their highest total for February since the financial crisis. The monthly concession rental equivalent was the second-highest on record as rents fell sharply. Listing inventory has been trending lower since peaking in October but remained nearly triple year-ago levels. Existing rental price trend indicators fell at a higher year-over-year rate than for new development rentals. Doorman new lease signings continued to rise by more than twice the rate of non-doorman lease signings. Landlord concessions market share for the luxury market was nearly half that of the non-luxury market.

Brooklyn saw the highest number of new lease signings since tracking began during the financial crisis. The net effective median rent fell year over year at the highest rate in nearly a decade. Landlord concession market share remained high after peaking in November and declining since.

In Northwest Queens, new lease signings surged to their highest total for February after nine years of tracking. Net effective median rent fell year over year for the tenth straight month. The monthly concession rental equivalent was the second-highest amount on record. The market share of landlord concessions rose annually for the sixth straight month.

While 2020 saw a significant release of pent-up demand after the spring COVID lockdown, Manhattan co-op and condo sales fell short of year-ago levels. Record low mortgage rates helped fuel sales after the COVID lockdown ended last spring. While the sales fell short of year-ago levels, new signed contract volume suggests that closings will continue to close the gap in the first half of 2021. Except for 2017, the annual number of sales has slipped year over year in the post-financial crisis era since the 2013 peak. Median sales price remained above the $1 million threshold since 2015 and has largely drifted sideways since. Sales with four or more bedrooms were the only size category to increase over the decade and saw the largest gain in price per square foot. Listing inventory rose more significantly year over year than compared to the beginning of the decade.

Manhattan townhouse sales fell to a record low, but the sharp drop in listings made the pace feel faster than a year ago. While sales fell to their lowest total in twenty-four years, listing inventory fell faster to a record low. Median sales price jumped to a record high, aided by the rise to the second-largest average sales size tracked. The market share of townhouse sales to all residential sales, including co-ops and condos, fell to its third-lowest level on record. The number of listings declined faster year over year than the number of sales, moving the market pace faster. Downtown median sales price jumped to the second-highest on record, helped by the second-largest average sales size tracked. The number of East Side sales fell annually by the second-largest rate to the lowest level on record. The average luxury sales size jumped to the second-highest on record, exceeding the nine thousand square foot threshold for the third time. The single family sales market accounted for about one-third of all sales but more than half of all dollar volume.

For the fourth consecutive month, new lease signings in Manhattan rose to their highest level for the current month since the financial crisis. Vacancy continued to recede from the October record but was still triple the year-ago rate. The monthly concession rental equivalent rose to the highest on record as face rents fell sharply. Smaller apartment sizes continued to see a larger percentage decline in median rent than larger apartment sizes. New development and existing rental price trend indicators fell at similar year over year rates. Doorman new lease signings surged annually by more than twice the rate as non-doorman lease signings. The market share of landlord concessions in the luxury market remained sharply lower than for the rest of the market.

For the third straight month in Brooklyn, new lease signings rose to their highest level for January since the financial crisis. The net effective median rent fell year over year at the highest rate in more than a decade, and there was the highest landlord concession of equivalent monthly rent in more than a decade.

In Northwest Queens, net effective median rent fell annually at a record rate in January and was the ninth straight month with a decline. The monthly concession rental equivalent rose to a new record for the third straight month. The market share of landlord concessions increased annually for the sixth straight month.

For the third straight month in Manhattan, new lease signings rose to their highest level for the current month since the financial crisis. New leases rose sharply to the most signed for December in more than a dozen years. The vacancy rate slipped from last month's record to the third-highest on record, and the monthly concession rental equivalent slipped from last month's record to the second-highest on record. Net effective median rent fell year over year at the second-highest rate in at least nine years. Smaller apartment sizes saw a larger percentage decline in median rent than larger apartment sizes. The market share of landlord concessions was sharply lower for the luxury market than for the market's remainder.

In Brooklyn, for the second consecutive month, new lease signings rose to their highest level for the current month since the financial crisis. New lease signings surged annually to the most signed for December in more than a dozen years. The net effective median rent fell year over year at the highest rate in more than eight years and fell to its lowest level in nearly six years. The market share of landlord concessions fell short of the prior month's record but represented nearly half of all market activity.

New lease signings showed significant growth as rental price trends continued to tumble in Northwest Queens. Net effective median rent fell year over year for the eighth consecutive month, and new lease signings surged after sixteen months of annual declines. The monthly concession rental equivalent rose to a new record.

Record prices in Brooklyn resulted from rising sales and falling listing inventory as the market continued to post strong results. Median sales price and average sales price rose year over year to reach new records. The market showed the most fourth-quarter sales in thirteen years, after two straight quarters with sales down by half. Listing inventory fell annually for the fifth straight quarter as the market pace moved at its fastest rate in nearly two years.

Price trend indicators set new records as sales in Queens surged from the prior quarter. Median sales price and average sales price rose year over year to reach new records, and the median sales price rose annually at its highest rate in nearly two years. Listing inventory fell quarter over quarter for the first time since the COVID lockdown.

Price trend indicators set new records as sales in Queens surged from the prior quarter. Median sales price and average sales price rose year over year to reach new records, and the median sales price rose annually at its highest rate in nearly two years. Listing inventory fell quarter over quarter for the first time since the COVID lockdown.

In Riverdale, which includes Fieldston, Hudson Hill, North Riverdale and Spuyten Duyvil, sales remained short of year-ago levels while prices pressed higher to new records. Median sales price increased year over year to reach a new record. The number of sales declined year over year after two consecutive quarters by half, and listing inventory rose annually for the second straight quarter, slowing the market pace.

After lagging the region's sales trends during the COVID era, Manhattan sales levels surged from the prior quarter but remained short of the level reached in the same period a year ago. The market share of cash buyers fell to a new record low as mortgage rates plummeted. The price trend indicators showed mixed results from prior-year levels as sales activity improved at the upper end. Median resales price slipped for the fifth time in six quarters, and the number of co-op sales jumped from the prior quarter but fell short of year-ago levels. A significant year over year uptick in condo sales occurred above the $5 million threshold, particularly new development. The market share of new development closings exceeded the quarterly average for the decade. Luxury median sales price rose annually for the second straight quarter, skewed by the sales size rise.

The number of sales in Northern Manhattan surged from the prior quarter for co-ops and condos but remained short of year-ago levels. Listing inventory fell from the prior quarter record but remained sharply higher than the same period last year. Overall price trend indicators rose above year-ago levels for townhouses, skewed by the shift to larger sized sales. Listing inventory continued to fall sharply along with the number of sales.

New leasing activity in Manhattan remained elevated as renters were drawn into the market by the enhanced affordability. The month saw the most new leases signed for November in more than a dozen years and the first month over month decline in listing inventory since March. This month saw the largest year over year decline in net effective median rent in more than nine years and the year over year declines in net effective median rent for all bedroom sizes were the largest on record. Both doorman and non-doorman median rent saw their largest annual declines on record. Luxury median rental price saw lower annual price declines than the remainder of the market.

In Brooklyn, new leasing activity also remained high as renters were drawn into the market by the enhanced affordability. The month saw the highest November new lease total in more than a dozen years and the market share of landlord concessions reached a record high. Listing inventory surged to its third-highest level in twelve years.

New lease signings continued to decline as the use of landlord concessions expanded in Northwest Queens. The number of new leases declined year over year for the sixteenth straight month, and net effective median rent fell year over year at its highest rate in more than four years. The market share of landlord concessions reached a record high.

New leases in Manhattan surged to the highest October total in twelve years, as falling rents are beginning to pull tenants back to the city. New leases surged year over year after seeing no gains for the previous fourteen months. The market share of landlord concessions set new records. Net effective median rent fell to its lowest level in nine and a half years. Landlord concessions for non-luxury properties were substantially higher than for luxury properties as the median rental price declined at a larger annual rate in the lower price segments.

In Brooklyn, new leases surged to the second-highest October total in twelve years, as falling rents expanded market activity. The market share of landlord concessions grew to their highest level on record.

New lease signings and rents have continued to fall in Northwest Queens since the lockdown ended in June. Net effective median rent fell at the largest rate in nearly four years of tracking as the number of new leases declined year over year for the fifteenth consecutive month.

New leases in Manhattan reached their prior-year level as vacancy rates and listing inventory reached new records. Listing inventory set a fourteen-year record, more than tripling the year-ago total, but the monthly growth rate slowed significantly. The market share of landlord concessions reached a new record for the decade it has been tracked, and the amount of free rent tied a decade high this month. The vacancy rate exceeded five percent for the second month and was the fifth consecutive month with a new record. Landlord concession market share for luxury rentals was substantially less than the overall market.

In Brooklyn, new leases rose above year-ago levels as landlord concessions expanded. Listing inventory increased to a record high for the third straight month, and the number of new leases rose annually at their highest rate in fourteen months. Luxury median rental price showed a large increase while the market-wide median rent slipped from the same period last year.

In Northwest Queens, all rental price trend indicators decreased year over year since May under the COVID lockdown. Net effective median rent declined year over year for the fifth straight month, at the highest rate in more than two years. Listing inventory expanded year over year at the highest rate in nearly five years, and the market share of two-bedroom apartment rentals was the highest in almost four years.

This quarterly report for Brooklyn primarily reflects sales contracts signed during and after the COVID lockdown that ended in late June. The number of sales fell at the largest year over year rate in more than eleven years. Yet this quarter also saw the largest annual decline in listing inventory in three and a half years while median sales price hasn’t seen a year over year decline in five months.

Sales fell sharply year over year in Queens for the second straight quarter as many of the contracts were signed during and shortly after the COVID lockdown. The number of sales fell at their second-highest year over year rate in more than nine years. Median sales price slipped nominally on a year over year basis after seventeen months of increases.

Sales fell sharply year over year in Queens for the second straight quarter as many of the contracts were signed during and shortly after the COVID lockdown. The number of sales fell at their second-highest year over year rate in more than nine years. Median sales price slipped nominally on a year over year basis after seventeen months of increases.

In Riverdale, which includes the areas of Fieldston, Hudson Hill, North Riverdale, and Spuyten Duyvil, sales fell to a record low as the market was effectively shut down by state mandate. This quarter saw the most significant year over year decline in the number of sales in nine years. All price trend indicators edged higher from the year-ago quarter. Listing inventory declined to its lowest level in more than two years.

This quarterly report for Manhattan primarily reflects sales contracts signed during and after the COVID lockdown that ended in late June. The COVID-19 market shutdown caused the number of sales to decline year over year by roughly half for the second straight quarter. The largest annual decline in sales occurred in smaller apartments, skewing overall price trends higher. The market saw the highest listing inventory total and slowest market pace since 2009. Resale bidding wars fell to the lowest market share level in almost five years of tracking. The number of new development closings reached its highest overall market share of the past five quarters, exceeding the decade average.

The number of sales remained well below year-ago levels as the market climbed out of the spring lockdown in Northern Manhattan. For co-ops and condos, the number of sales fell year over year at the highest rate in fifteen years, and listing inventory reached its highest total in twelve years of tracking. For townhouses, sales rebounded slightly from the prior quarter but remained below year-ago levels. Despite the slowdown, this quarter saw the highest market share of Manhattan townhouse sales in nearly three years.

With a nominal month over month uptick in new lease signings in Manhattan, activity appeared to bottom in the last month. There was the largest market share of landlord concessions in nearly a decade of tracking and the highest total of listing inventory in over fourteen years and the third straight monthly record. The vacancy rate exceeds five percent for the first time and the fourth consecutive month with a new record. There was the most substantial year over year decline in studio and one-bedroom median price in eight years of tracking. Existing and new development median rent fell annually for the third time in four months. While all price segments covered saw declines, more significant reductions occurred in the lower price strata.

In Brooklyn, listing inventory doubled from its year-ago level despite the moderate decline in new leases. Net effective median rent fell year over year for the second consecutive month after nineteen months of gains. Three out of four new development new signed leases had a landlord concession.

In Northwest Queens, listing inventory rose to its second-highest level recorded as new leasing activity fell for the thirteenth straight month. This was the fourth straight annual decline in net effective rent and the most significant yearly surge in listing inventory in four and a half years.

With the lifting of some “shelter-in-place” restrictions in Manhattan, new leasing activity surged month over month but still fell short of year-ago levels. This month saw the most significant year over year decline in net effective rent in nearly nine years of tracking and the largest market share of landlord concessions in two and a half years. July was the third straight month to see a record vacancy in fourteen years of recording. Non-doorman rent fell at twice the annual rate of rent for doorman buildings, and existing median rent fell at five times the annual rate of new development median rent.

In Brooklyn, the momentum of sliding median net effective rent continued after the market re-opened. Net effective median rent fell annually for the first time in twenty-one months, and new leases declined annually for the tenth straight month. The landlord concession market share for new development was nearly double that of existing rentals.

The removal of “shelter-in-place” restrictions in Northwest Queens at the end of June did not expand new lease signings, and rental price trends continued to decline. This month saw the most significant year over year decline in median net effective rent in three and a half years of tracking.

After a robust first quarter in Brooklyn, the COVID-19 related market shutdown during much of the second quarter caused sales to fall by their highest rate in a decade. Median sales price reached a new record while average sales price recorded its second-highest mark.

Sales declined in Queens at their highest rate in more than a decade, as the market was largely shut down by state mandate. This quarter saw the largest annual decline in listing inventory in three and a half years. The median sales price hasn’t seen a yearly decline in seventeen months.

In Manhattan, the state mandate that prevented real estate brokers to physically show property was removed before the last week of the month, which was not enough time to have a material influence on market conditions for the month. This month saw the highest vacancy rate in nearly fourteen years of tracking and the lowest number of June new lease signings in nearly a decade. The fall in median rent reversed all gains seen in 2019 and 2020. The market share of concessions in each price segment surged and new development median rent increased as existing median rent declined annually.

With the lifting of the lockdown, there will be greater transparency in the Brooklyn market going forward. New leases declined annually for the ninth straight month and net effective median rent rose at the lowest rate in 18 months.

While the decline in new leasing activity remained well below last year, the removal of ‘shelter-in-place’ restrictions in the final week of June that prevented in-person showings, is expected to expand activity in Northwest Queens. New leases declined annually for the eleventh straight month. The market share of landlord concessions rose annually for the third straight month and median rent declined year over year across all bedroom categories.

Sales declined in Queens at their highest rate in more than a decade, as the market was largely shut down by state mandate. This quarter saw the largest annual decline in listing inventory in three and a half years. The median sales price hasn’t seen a yearly decline in seventeen months.

In Riverdale, which includes the areas of Fieldston, Hudson Hill, North Riverdale, and Spuyten Duyvil, sales fell to a record low as the market was effectively shut down by state mandate. This quarter saw the most significant year over year decline in the number of sales in nine years. All price trend indicators edged higher from the year-ago quarter. Listing inventory declined to its lowest level in more than two years.

With the market shut down due to Covid-19 in Manhattan, sales fell annually by the largest percentage in 30 years. Median sales price fell year over year by the highest amount in a decade and listing inventory fell by the most significant annual rate in nearly seven years.

The number of sales in condos and co-ops in Northern Manhattan fell year over year by the largest amount in more than a decade. The market share of borough sales edged up from year-ago levels. In the Townhouse market, there was a sharp drop in sales to the lowest level recorded in at least five years. Listing inventory posted a large decline from year-ago levels.

With the inability of real estate agents to physically show property per state ‘shelter in place’ rules in Manhattan, there has been a sharp drop in new lease signings and limited price discovery during the Coronavirus crisis. This was the lowest total of new leases recorded for the month of May in a decade and the second largest year over year decline in new leases in a decade. New development median rental price declined year over year and the starter (bottom 10%) reached new median rental price record.

In Brooklyn, the challenge of a near-record decline in new leasing activity and the recent gain in market share of landlord concessions have been amplified due to COVID-19 ‘shelter in place’ rules for real estate agents. The number of new leases fell annually for the eighth straight month and listing inventory expanded for the first time in eleven months. The market share of landlord concessions rose annually for the first time in seventeen months.

In Northwest Queens, new leasing activity continued to see significant year over year declines as state “shelter in place” rules during the COVID-19 crisis have limited new rental transactions and price discovery. Median rent fell year over year for the first time in eight months. The market share of landlord concessions set a new record over four and a half years of tracking. Nearly two thirds of one-bedroom rentals had some form of landlord concession, which was a new record.

In Manhattan, new leasing activity declined at record rates due to the COVID-19 shutdown, while the market share of lease renewals surged as tenants sought relief. This month had the highest net effective median, average and average per square foot rent ever recorded and the highest April vacancy rate recorded in at least fourteen years. The luxury market continued to see slightly lower use of concessions than the non-luxury market.

In Brooklyn, renewal leasing activity surged in response to the sharp drop in new leasing activity caused by COVID-19 shelter in place rules, skewing aggregate new leasing price trends higher. Net effective median rent for new development reached a new record. Face and net effective median rent set new records this month by apartment size.

In Northwest Queens, the record decline in new leasing activity due to the Coronavirus crisis indicated that renewal activity was where the weakness in rental price trends could be found. This month had the second average face rent record reached in three months and the lowest market share of new development leases in four and a half years.

With awareness of COVID-19 breakout by mid-March, leasing activity in Manhattan fell sharply as landlords worked hard to retain existing tenants. This month saw the eleventh consecutive year over year decline in new leases in twelve months and the second-largest annual decrease in new leases in more than eleven years of tracking. Median net effective rent rose year over year for the fifteenth straight month.

With the Coronavirus pandemic, new lease signings in Brooklyn fell to their lowest level in four and a half years. Median rent for new development reached a new record as market-wide studio and 1-bedrooms set new records.

In Northwest Queens, the number of new leases declined each month annually since last summer. The large decline in March was a result the cool down after the middle of the month. The net effective median rent rose year over year for the fifth time in six months. New development average and median rent reached new records.

Falling spring inventory and rising prices in Brooklyn characterized the market until the final two weeks of March. Listing inventory growth since year-end went negative, in contrast to increasing supply over the previous five years. The average sales price rose above the $1 million threshold for only the third time, and the number of sales jumped above year-ago levels.

Sales and price trends in Queens rose throughout the quarter until the mid-March slowdown. From the New Year 2020 through mid-March 2020, the number of sales rose annually for the second straight quarter.

Sales and price trends in Queens rose throughout the quarter until the mid-March slowdown. From the New Year 2020 through mid-March 2020, the number of sales rose annually for the second straight quarter.

In Riverdale, which includes the areas of Fieldston, Hudson Hill, North Riverdale, and Spuyten Duyvil, sales surged annually for the first time in six quarters showing strength going into the mid-March slowdown.

In Northern Manhattan, apartment sales moved higher as townhouse sales declined. The number of co-op and condo sales surged, rising year over year for the third time in four quarters. The median sales price for the townhouse declined annually for the third straight quarter.

After a fast start to the quarter in Manhattan, the Coronavirus outbreak quickly slowed market conditions by early March. In the final two weeks of March 2020, awareness of the global pandemic known as COVID-19 cooled conditions after two significant rate cuts by the Federal Reserve and the statewide shutdown of non-essential businesses. Current sales contract activity does not account for the market impact of the coronavirus yet since it lags the “meeting of the minds” by two-to-three weeks. From the New Year 2020 through mid-March 2020, the number of sales jumped year over year after two straight quarterly declines. All three overall price trend indicators declined annually for the third consecutive quarter. Re-sale listing inventory fell year over year for the first time in ten quarters.

In Manhattan, rental prices pressed higher as the use of concessions declined but remained elevated. All three overall price trend indicators rose year over year for the ninth straight month. The number of new leases fell year over year for the seenth consecutive month as landlords were more successful retaining tenants at the time of renewal.

In Brooklyn, the median rental price reached a new high as the concession market share declined. New leases have fallen sharply year over year for the fifth straight month as landlords improved tenant retention at renewal.

In Northwest Queens, the average rental price rose to a new record despite the expansion of landlord concession market share. All three overall price trend indicators rose year over year for the second straight month. With the increased use of concessions, free rent or its equivalent was at its highest level in more than four years.

Sales moved higher in Brooklyn after nearly two years of declines. The market hot spot that showed the largest year over year increase in sales was the $2M to $3M price range, and approximately one in five sales sold above last asking price.

Year over year sales in the Manhattan market below the $5 million threshold edged higher while sales at or above the threshold fell sharply. Median sales price remained unchanged year over year as average sales price continued to decline. With the sharp drop in mortgage rates, this quarter had the lowest overall share of quarterly cash buyers in five years of recording. Four of ten luxury sales were new development versus six out of ten three years ago.

Co-op and condo sales activity over the last ten years captured in the Manhattan Decade Report showed that despite the substantial sales activity in the middle of the decade, the number of sales in 2010 was nearly identical to the 2019 total. Except for 2017, the annual number of sales has fallen year over year since 2014. The average marketing time has remained remarkably stable at 101 days over the past three years.

The Manhattan Townhouse Report showed that the townhouse market enjoyed the same median sales price gain as the apartment market over the decade. The market share of townhouses fell to 1.9% of all residential sales, the lowest level reached since the beginning of the decade. Two-family properties were the standout as the only property type to see an increase in sales over the past year.

In Northern Manhattan, co-op and condo median sales price declined year over year for the third time in four quarters, yet the number of sales expanded annually for the second time in three quarters. In townhouses, price trend indicators and the number of sales declined from the year-ago quarter. Listing inventory hasn’t shown a year over year decline in seven quarters.

While setting new price records isn’t new in Queens, sales rose annually for the first time in more than two years. Median sales price and average sales price continued to set records, and approximately one in six sales sold above last asking price.

While setting new price records isn’t new in Queens, sales rose annually for the first time in more than two years. Median sales price and average sales price continued to set records, and approximately one in six sales sold above last asking price.

In Manhattan, all price trend indicators rose as the market share of landlord concessions declined but remained elevated. The median net effective rate increased across all bedroom types. Super luxury rent representing the top 5% of the market, continued to show the highest median rent gain.

In Brooklyn, there were significant annual increases across all price trend indicators.
The market saw the most significant year over year rise in median face rent in nearly six years, and there were increases in median face rental price across all apartment sizes.

In a reversal from last month in the Northwest Queens market, median rent gains were more significant in the entry-markets. This month saw the first year over year increase in landlord concession market share in five months.

In Riverdale, which includes the areas of Fieldston, Hudson Hill, North Riverdale, and Spuyten Duyvil, listing inventory and price trend indicators fell for the first time in more than a year.

Listing inventory in the Hamptons and North Fork increased annually to the second-lowest level on record and was less than half of pre-pandemic levels. While sales dropped from the prior year’s total, it was similar to the pre-pandemic total. Price trend indicators rose year over year to the highest levels on record. Days on market fell to a record low after sixteen years of tracking. Despite the slowdown in sales as mortgage rates doubled, there was no listing discount. The pace of the market, as measured by months of supply, was significantly faster than the decade average.

Price trend indicators in Long Island rose year over year to the highest levels on record. Listing inventory rose annually to the second-lowest level on record and was nearly half of pre-pandemic levels. While sales slid from the prior year’s total, they were slightly below the pre-pandemic total. The pace of the market, as measured by months of supply, was the second-fastest on record. Days on market fell to a record low during two decades of tracking.

Price trend indicators in Long Island remained sharply above pre-pandemic levels as listing inventory remained near record lows. Median and average sales prices rose to their third-highest levels on record. Sales fell below long-term norms as higher rates and lack of supply restrained demand. Listing inventory rose yearly from the previous record low to the third-lowest on record. Luxury median and average sales prices rose annually and remained sharply above pre-pandemic levels. Luxury listing inventory edged higher yearly but was less than half of pre-pandemic levels—more than one of four of the quarter’s luxury sales sold above the last asking price.

Listing inventory in the Hamptons remained chronically low, less than half of pre-pandemic levels. Price trend indicators declined annually but remained sharply above pre-pandemic levels. Listing inventory rose annually from a prior record to the third lowest on record and less than half of pre-pandemic totals. Sales fell annually by half and were restrained by higher mortgage rates and low listing inventory. Nearly one in five sales that closed in the quarter went into a bidding war.

In North Fork, prices continued to press higher as listing inventory remained historically low. The median sales price rose annually to an all-time high for the fourth time in five months. Listing inventory increased year over year from a prior record and was less than half of the pre-pandemic total. Sales fell sharply year over year, restrained by higher mortgage rates and chronically low listing inventory. Nearly one in four sales that closed in the quarter went into a bidding war.

Price gains in Westchester County slowed despite the drop in listing inventory. The median sales price has increased annually for the fifth consecutive quarter, and bidding wars accounted for one-third of all closings. Listing inventory fell year over year for the fourteenth straight quarter. Luxury median sales price, representing the top ten percent of all sales, fell annually for the first time in eleven quarters as luxury listing inventory rose year over year for the first time over a similar period.

Price gains in Putnam County slowed despite low listing inventory levels. Median sales price rose annually for the tenth consecutive quarter but at a diminishing rate. Bidding wars accounted for more than one-third of all closings in the quarter as listing inventory edged higher for the first time in three years.

Dutchess County’s median sales price stabilized as listing inventory expanded. Still, bidding wars accounted for one-third of all closings in the quarter.

Prices in Long Island continued to reach new highs as sales declined and listing inventory was half pre-pandemic levels. The number of sales declined annually for the fourth quarter to a level consistent with the third-quarter average for the decade. Bidding war market share accounted for more than half of all sales, the second-highest on record, while the average days on market was the shortest in more than two decades of tracking. Luxury median sales price rose to a new high for the second consecutive quarter as luxury listing inventory saw a modest annual gain but was less than half of pre-pandemic levels.

Despite rising mortgage rates in the Hamptons, price trends continued to set records as the lack of listing inventory persisted. The median sales price has risen to both record and near-record levels for ten straight quarters, to nearly double pre-pandemic levels. The number of sales fell year over year for the fifth consecutive quarter as listing inventory fell annually for the twelfth consecutive quarter and was less than half of pre-pandemic levels.

In North Fork, the market continued to be characterized by record prices, declining sales, and a chronic lack of listing inventory. The median sales price has risen to record and near-record levels for eight straight quarters, more than double pre-pandemic levels. The number of sales fell year over year for the fifth consecutive quarter. Listing inventory increased year over year for the first time in eleven quarters and was nearly two-thirds below pre-pandemic levels.

Sales in Westchester County slowed annually for the third consecutive quarter but was the third-highest total on record. Median and average sales prices reached new records and remained well-above pre-pandemic levels. Listing inventory fell to the lowest level for a third quarter on record. All luxury price trend indicators reached their respective second-highest level on record, and luxury listing inventory fell for the fourteenth quarter to the second-lowest on record.

Further north in Putnam County, all price trend indicators rose annually and expanded substantially above pre-pandemic levels. Median sales price reached a new high in five of the last six quarters. The number of sales fell year over year for the previous four quarters. Still, it remained above pre-pandemic levels while listing inventory declined year over year for the tenth consecutive quarter.

Dutchess County's price trend indicators rose annually and expanded substantially above pre-pandemic levels. Median sales price reached a new high in four of the last six quarters. The number of sales fell year over year over the previous three quarters but remained above pre-pandemic levels.

Price trends in Long Island pressed higher as sales volume slowed, responding to a combination of lack of supply and rising mortgage rates. The median sales price has reached both record and near-record levels for thirteen consecutive quarters. Bidding wars rose to a new high and accounted for six of ten sales. Listing inventory rose sharply quarter over quarter yet was still at half the pre-pandemic level. Luxury median and average sales prices reached new highs and remain well above pre-pandemic levels. Luxury listing inventory fell year over year for the tenth straight quarter to the fourth lowest level on record. Luxury bidding wars rose to a new high for the eighth time in ten quarters.

Price trends in the Hamptons pressed higher as sales volume slowed, responding to a combination of lack of supply and rising mortgage rates. The median sales price has reached both record and near-record levels for nine consecutive quarters. Bidding wars accounted for one out of three sales during the quarter. Listing inventory rose quarter over quarter from a record low to the third lowest on record.

In North Fork, the market was in sync with its southern counterpart with record prices, as lower sales volume was caused by limited supply and growing economic uncertainty. The median sales price has reached both record and near-record levels for eight consecutive quarters. Bidding wars accounted for nearly one out of two sales during the quarter. Listing inventory rose quarter over quarter but remained roughly one-third of normal levels.

Despite record-setting prices and bidding wars in Westchester County, sales showed a modest decline. Listing inventory declined annually to the lowest second-quarter total in more than twenty-seven years. Single family bidding wars accounted for two-thirds of all their closings, the highest market share on record. The condo market pace tied the fastest-moving market pace for the third consecutive quarter. All luxury price trend indicators rose to new highs as days on market fell to a new low. Luxury listing inventory fell year over year for the thirteenth consecutive quarter.

Further north in Putnam County, all price trend indicators rose to new highs as sales declined annually for the third consecutive quarter. The number of sales declined annually for the third consecutive quarter while listing inventory declined annually to the third-lowest level on record.

In Dutchess County, listing inventory rose annually for the first time in eleven quarters. All price trend indicators rose annually, two of them to new highs as days on market fell to the second-lowest on record. The number of sales declined annually for the second straight quarter.

Heavy bidding war activity in the Hamptons confirmed high demand despite sale declines, primarily due to the collapse in listing inventory. Since the pandemic era began, median sales price has been in one of the top three highest levels each quarter. Bidding wars were incurred in more than one out of four sales for the third straight quarter. Listing inventory fell to a new low for the second consecutive quarter. Severely restrained by lack of supply, sales declined annually for the past three quarters. The market share of sales above the $5 million threshold was the third highest in history. With listing inventory falling faster than sales, the months of supply created the third-fastest moving market on record.

The availability of listing inventory in the Long Island market continues to fall rapidly, overpowering sales. Price trend indicators increased to the second-highest on record and well-above pre-pandemic levels while listing inventory fell to the lowest in eighteen years of tracking. The sharp drop in listing inventory restrained potential sales for the first time. For the second straight quarter, more than half of all closings in the quarter sold above the last asking price. Condo sales moved at their fastest pace in more than a dozen years of tracking as listing inventory fell to a new low. Single family listing inventory fell to a twelve-year low, bringing the market pace to the fastest on record. Luxury price trend indicators rose to their second-highest levels on record, and luxury listing inventory fell to a new low as the market pace moved to the fastest tracked since 2009.

In North Fork, the collapse in listing inventory held back sales and caused bidding wars to surge. Since the pandemic era began, median sales price has reached the top two highest levels each quarter. Bidding wars were incurred in more than four out of ten sales in two of the past three quarters. After nine quarters of annual declines, listing inventory fell to the second-lowest on record. With the collapse in supply, the number of sales saw significant yearly decreases for the past three quarters.

The extended period of listing inventory declines in Westchester County restrained sales growth for the first time since the summer of 2020. Median sales price rose to its highest level for a first quarter. The number of sales slipped annually for the first time in six quarters as the pace of the market was the third-fastest in four decades of tracking. Single family listing inventory fell annually for the eleventh straight quarter to the third-lowest on record. The pace of the condo market tied the prior quarter as the fastest-moving market on record. Luxury listing inventory fell year over year for the twelfth consecutive quarter. Luxury average and median sales prices rose annually and were sharply above pre-pandemic levels.

Further north in Putnam County, price trend indicators reached a record, and near-record highs as listing inventory fell to record lows. All price trend indicators rose annually, with median sales price rising to a record. Listing inventory fell to another record low after falling sharply year over year for eight straight quarters. With listing inventory falling faster than sales, months of supply tied the prior quarter as the fastest pace on record.

In Dutchess County, listing inventory fell to record lows and began to restrain sales. Median sales price rose to the third-highest on record and was well above pre-pandemic levels. Listing inventory fell to another record low after falling year over year for ten straight quarters. As a result, the number of sales decreased year over year for the first time in six quarters.

Record low listing inventory in Hamptons and North Fork held back potential sales throughout 2021 as demand remained elevated. As a result, Hamptons average sales price rose to a new high as median sales price reached the second-highest on record. With the skew to the Hamptons high-end, total sales dollars rose to a new record, exceeding the year-ago high watermark. Nearly one out of four Hamptons sales went to a bidding war, nearly double the prior year’s record.

North Fork's median and average sales price rose to new highs while sales slipped from the prior-year high to the second-highest on record. North Fork listing inventory fell sharply to a new low, overpowered by demand. Nearly four out of ten North Fork sales went to a bidding war, nearly double the prior year’s record.

The record number of sales in Long Island and the lowest listing inventory on the record created the fastest moving market in at least two decades. The number of sales surged to the highest number on record as listing inventory fell to the lowest level tracked since 2002. As a result, months of supply decreased to the fastest pace on record, and average and median sales prices rose to new highs. In addition, luxury listing inventory fell to a record low. As a result, prices and sales rose to record highs in both Nassau and Suffolk Counties.

Listing inventory in the Hamptons continued to fall short of demand, keeping price trends well above pre-pandemic levels. Average and median sales prices rose to a record and near-record level respectively in the final quarter of 2021. Listing inventory fell annually at the fastest rate on record to a new fifteen-year low. Months of supply decreased to the most rapid pace on record, more than twice the pace of pre-pandemic levels. For the second straight quarter, more than one out of four closings in the quarter sold above the last asking price. The number of sales greater than or equal to $5 million was the second-highest on record, reflecting the continued market strength at the high-end. Condo's median sales price rose to the second-highest on record, with the fastest market pace. Single family price trend indicators reached new highs and the market share of bidding wars. The luxury market share of bidding wars was the highest on record as listing inventory fell year over year in seven of the past eight quarters.

The availability of listing inventory in the Long Island market continues to fall rapidly, overpowering sales. Price trend indicators increased to the second-highest on record and well-above pre-pandemic levels while listing inventory fell to the lowest in eighteen years of tracking. The sharp drop in listing inventory restrained potential sales for the first time. For the second straight quarter, more than half of all closings in the quarter sold above the last asking price. Condo sales moved at their fastest pace in more than a dozen years of tracking as listing inventory fell to a new low. Single family listing inventory fell to a twelve-year low, bringing the market pace to the fastest on record. Luxury price trend indicators rose to their second-highest levels on record, and luxury listing inventory fell to a new low as the market pace moved to the fastest tracked since 2009.

In North Fork, price trend indicators reached new highs while the lack of adequate listing inventory held back sales. Average sales price reached a new high, and median sales price reached its highest level in sixteen years of tracking. Listing inventory fell sharply year over year for the eighth straight quarter to a new low, creating the second-fasted paced market since 2005—nearly four out of ten closings sold above the last asking price in the quarter. Reflecting the strength at the high-end, sales greater than or equal to $2 million reached their third-highest total on record. For the second straight quarter, at least half the condo closings went to bidding wars. After eight quarters of year-over-year declines in single family listing inventory, supply fell to the second-lowest on record. As a result, the luxury market moved at the fastest pace in a decade of tracking.

Westchester County experienced the fastest-paced market in four decades. One out of every three sales went to bidding wars as listing inventory fell to its lowest level in twenty-seven years. The number of sales surged to its highest fourth-quarter total since tracking began in 1981. The market share of single-family bidding wars was the third highest in history. The condo average and median sales prices were the first and second-highest on record, respectively. Luxury listing inventory fell to a record low for the fourth time in the past five quarters while months of supply showed the fastest pace on record for the second straight quarter.

Further north in Putnam County, all price trend indicators pressed sharply higher. All price trend indicators increased annually and saw two to three times the growth rate from the same period two years ago. Sales slipped annually for the first time in two years after seven quarters of significant year-over-year listing inventory declines. The decline in months of supply resulted in the fastest market pace on record.

In Dutchess County, listing inventory fell to the lowest level on record. Median sales price reached a top three price record for the sixth straight quarter. The number of sales rose sharply year over year for the fifth consecutive quarter. Listing inventory fell annually to the lowest level on record for the ninth straight month.

Prices in the Hamptons continued to rise and set records as market strength shifted towards the higher-end. Price trend indicators were more than fifty percent above the same period two years ago. Listing inventory fell at a near-record rate year over year to the third-lowest level on record, restraining sales. Days on market fell to their shortest amount in more than 15 years of tracking as more than one out of four sales closed in the quarter sold above the last asking price. The market share of sales above $5 million was the highest tracked since at least 2006, while luxury listing inventory fell by half over the past year.

The Long Island market saw record prices, heavy sales volume, and near record-low inventory. Condo sales surged to the third-highest on record as price trend indicators set new records. Single family listing inventory fell sharply to the third-lowest level on record. More than half of all closings in the quarter sold above the last asking price. Luxury median and average sales price rose to a new record for the fourth time in five quarters and luxury listing inventory fell to its lowest level in more than eleven years of tracking.

In North Fork, prices reached records and near-records as chronic inventory shortages held back sales. Bidding wars reached a record high, accounting for more than half of all closings. The market share of sales above $2 million was the highest tracked in more than nine years. 

In Westchester County, the market was characterized by new records that reached across prices, sales, and pace. All price trend indicators were at record levels and were well above two year-ago levels. Sales surged to the highest level in at least four decades. The pace of the market was the fastest on record, and the market share of bidding wars rose to a new record. Single family median sales price rose to a new record as average sales price was the second-highest on record, and condo sales and price trend indicators rose year over year to new records. All luxury price trend indicators rose year over year to their second-highest levels as luxury listing inventory fell to its lowest level on record.

Further north in Putnam County, all price trend indicators rose to new records for the second straight quarter. All price trend indicators rose year over year to new records for the second straight quarter. Sales rose annually for the fifth consecutive quarter, and listing inventory declined year over year for the sixth straight quarter.

In Dutchess County, median sales price and the number of sales jumped to new records. Median sales price rose to a new record for the third time in the past five quarters. The number of sales surged to the highest level tracked in more than twenty-five years. Marketing time fell to the lowest average on record, and listing discount fell to their tightest level in nearly eighteen years. 

Prices in the Hamptons set records as sales levels remained high, but not at the intensity seen late last year. Price trend indicators rose to new highs as sales surged year over year. Listing inventory fell sharply to the third-lowest level in nearly fifteen years. The market pace fell annually to the fastest moving market in fifteen years. Bidding wars rose annually to their second-highest market share in five years of tracking. While sales rose market-wide, sales from $1 million to $5 million saw the highest market share in a decade. Luxury listing inventory fell sharply as the market share of sales to close at the asking price reached a new high.

Sales surged in Long Island against a sharp drop in supply, sending prices to new highs. Average and median sales price surged to new records, collectively for the fourth consecutive quarter. Sales surged year over year for the third straight quarter as listing inventory saw a large drop. The market pace fell annually to the third-fastest moving market in eighteen years. Single family price trend indicators reached new highs as listing inventory fell to the third lowest level on record. Condo days on market from the original list date was the shortest on record and luxury listing inventory fell by its steepest annual rate for the third straight quarter to its third-lowest level on record.

In the North Fork, median sales price saw significant growth for four straight quarters along with a brisk market pace. The number of sales posted four significant, consecutive year over increases. Listing inventory fell annually to its third-lowest level in fifteen years of tracking. The market share of sales that went to bidding wars was the third-highest in five years of tracking. While sales rose market-wide, sales from $1 million to $2 million range saw the highest market share in nine years.

Nearly four out of every ten sales in Westchester County sold above the last listing price. Median sales price rose year over year to the second-highest on record. The number of sales surged year over year for the third consecutive quarter. The year over year growth rate of sales above $1 million was double the sales below $1 million. Luxury median and average sales price surged higher to set records while luxury listing inventory fell to its lowest level in more than eleven years.

Further north in Putnam County, all price trend indicators rose to new records as the market pace moved significantly faster. The number of sales rose annually for the fourth straight quarter. However, marketing time remained at its lowest level on record in nearly twelve years of tracking.

In Dutchess County, median sales price jumped to a new high as months of supply moved at the second-fastest pace on record. As a result, sales surged annually at the highest rate on record for the second straight quarter.

The market pace in the Hamptons remained brisk, with heavy sales volume and limited inventory. Listing inventory fell at its fastest rate in more than thirteen years of tracking. Sales surged year over year for the third straight quarter to the largest first-quarter total in six years. Median sales price rose sharply year over year for the fifth consecutive quarter. While sales surged market-wide, activity on the $1 million to $5 million range nearly doubled, skewing average sales price lower. Listing inventory for the luxury market rose in sharp contrast to the remainder of the market, which declined.

Many records appeared in the quarterly Long Island report results evidencing rising prices, strong demand, and limited supply. Average and median sales price rose sharply to new records, collectively for the third straight quarter. The number of sales surged year over year at the highest rate in eleven years. Listing inventory fell sharply to the lowest level in nearly eighteen years of tracking. Single family median sales price set a new record for the fourth consecutive quarter. Condo month of supply showed the second fastest-paced market in twelve years. Luxury listing inventory fell by its steepest annual rate in eleven years to its second-lowest level on record.

Robust market conditions remained with high sales activity, prices, and limited supply in the North Fork. The number of sales jumped annually for the third straight quarter. Listing inventory fell to the lowest level in fifteen years of tracking. More than a third of all closings occurred above the last asking price. The number of sales above the $2 million threshold more than tripled.

The frenetic market pace in Westchester County continued where it left off at the end of last year. Median sales price rose year over year for the ninth consecutive quarter to the third-highest on record. The annual sales rate for properties above the $1 million threshold was nearly triple of those below it. Months of supply indicated the second fastest-paced market in twenty-six years of tracking. Single family sales increased annually at its fastest rate in more than a decade and condo sales surged year over year for the past two quarters. Luxury listing inventory fell annually for the eighth straight month and all three luxury price trend indicators rose collectively for the third straight month.

Further north in Putnam County, sales jumped to near-record highs despite listing inventory falling to a record low. Sales rose to their highest level in 21 years and listing inventory fell to its lowest level in over 25 years. All price trend indicators rose significantly on a year over year basis. This quarter saw the fastest days on market in more than eleven years of tracking.

In Dutchess County, median sales price surged to the third-highest level on record while listing inventory dropped to a record low. Sales and median sales price surged to their third-highest level in 25 years of tracking. Listing inventory plunged to a record low as heavy sales levels continued to overpower it.

With falling supply and surging sales aided by record-low mortgage rates, the Hamptons’ market pace was the fastest recorded since at least 2007. Median sales price reached a new record for the second straight quarter after fifteen years of tracking. Sales surged annually at the highest rate in a decade to the most quarterly sales in at least fifteen years. Listing inventory fell year over year for the fifth consecutive quarter, and bidding wars showed their highest market share in nearly five years of tracking.

In Long Island, average and median sales price rose sharply year over year to reach new records. Listing inventory saw a significant annual decline to the lowest level in seventeen years. The number of sales remained below year-ago levels but surged from the prior quarter lockdown. Single family average sales price jumped annually by the highest rate on record to reach a new record. Both condo average and median sales price increased annually also to reach new records. Luxury median and average sales price surged year over year to reach new records.

Median and average sales price in North Fork set new records after 14 years of tracking. Sales saw the largest annual surge on record and the largest total since at least 2006. Listing inventory fell to a 14-year low as the market recorded the fastest market pace in 14 years. Bidding wars reach their highest market share in nearly five years of tracking.

Further north in Putnam County, the market continued to show more strength with rising prices and a year over year surge in sales. The sales surge was at the highest rate in more than four years. Median sales price rose at its highest rate in twelve quarters while listing inventory fell year over year at its highest rate tracked in thirteen years.

In Dutchess County, price trend indicators continued to show significant gains as listing inventory fell sharply. Median sales price jumped annually at the highest rate tracked in thirteen years. Listing inventory fell year over year for the fifth consecutive quarter. Months of supply fell to the fastest market pace in more than six years of tracking.

In Westchester County, prices and sales pressed higher as listing inventory continued to fall. Median sales price surged annually to the second-highest level on record. The number of sales in the fourth quarter was the most for a fourth-quarter on record. Listing inventory fell year over year for the sixth straight quarter. Single family median sales price across all bedroom categories posted large gains, with the highest in the larger sizes. More than a third of single family sales that closed in the quarter went to a bidding war. The highest number of condo sales of any quarter on record, and condo sales surged after three consecutive quarters of significant declines. Luxury listing inventory fell year over year at the highest rate in eight-year and luxury months of supply showed the fastest market pace in eight years.

Sales surged quarter over quarter in the Hamptons, rebounding quickly from the restraint of spring market activity at the onset of the COVID crisis. The median sales price reached its highest level in fifteen years of tracking after the largest year over year surge in sales in nearly seven years. Listing inventory fell annually for the fourth straight quarter and marketing time expanded annually for the fifth consecutive quarter as older listings were sold off.

In Long Island, average and median sales price rose sharply year over year to reach new records. Listing inventory saw a significant annual decline to the lowest level in seventeen years. The number of sales remained below year-ago levels but surged from the prior quarter lockdown. Single family average sales price jumped annually by the highest rate on record to reach a new record. Both condo average and median sales price increased annually also to reach new records. Luxury median and average sales price surged year over year to reach new records.

The median sales price in the North Fork rose to its highest level in more than fourteen years of tracking. The surge in year over year sales resulted in the largest total since 2006. There were the lowest inventory and fastest market pace recorded in over fourteen years and the highest market share of bidding wars in more than four years of tracking.

Further north in Putnam County, price trend indicators and sales slipped from year-ago levels. “Shelter-in-place” rules were modified in early June to allow in-person showings by real estate brokers, but this transparency came too late to be reflected in the results. The number of sales declined annually for the second time in five quarters. Listing inventory fell sharply year over year and was the first decline in six months.

In Dutchess County, the number of sales and listing inventory fell sharply. ‘Shelter-in-place’ rules were modified in early June to allow in-person showings by real estate brokers, but this transparency came too late to be reflected in the quarterly results. The number of sales declined year over year by the most significant amount in six years. Listing inventory fell sharply, the third straight annual decline while all price trend indicators pressed higher from the same period last year.

In Westchester County, state-mandated “shelter-in-place” rules prevented in-person property showings for much of the quarter, distorting sales and inventory trends. County overall price trend indicators were skewed higher by the rise in single-family market share. This quarter saw the most significant year over year decline in county-wide sales in eleven years and the sixth straight year over year rise in the median sales price. Listing inventory declined by the largest amount in fourteen years.

Despite the COVID-19 shutdown in the Hamptons, the decline in sales was more modest than much of the region. The number of sales declined annually for the first time in three quarters to the lowest second-quarter sales total in eleven years. Listing inventory fell year over year for the third straight quarter.

Despite the significant year over year decline in Long Island sales due to the COVID-19 shutdown, many records were set. Median sales price tied the record set in the third quarter of 2019 and has flirted with records in the three previous quarters. The number of sales fell at the most substantial annual rate in seventeen years of tracking. Market-wide listing inventory declined year over year by the largest rate in sixteen years of tracking, while luxury listing inventory declined at the highest rate in more than seven years.

After a robust first quarter in the North Fork, the COVID-19 market shutdown during much of the second quarter, caused sales to fall to the lowest second-quarter total in eight years. Listing inventory fell year over year at the highest rate in at least thirteen years of tracking.

Further north in Putnam County, price trend indicators and sales slipped from year-ago levels. “Shelter-in-place” rules were modified in early June to allow in-person showings by real estate brokers, but this transparency came too late to be reflected in the results. The number of sales declined annually for the second time in five quarters. Listing inventory fell sharply year over year and was the first decline in six months.

In Dutchess County, the number of sales and listing inventory fell sharply. ‘Shelter-in-place’ rules were modified in early June to allow in-person showings by real estate brokers, but this transparency came too late to be reflected in the quarterly results. The number of sales declined year over year by the most significant amount in six years. Listing inventory fell sharply, the third straight annual decline while all price trend indicators pressed higher from the same period last year.

In Westchester County, state-mandated “shelter-in-place” rules prevented in-person property showings for much of the quarter, distorting sales and inventory trends. County overall price trend indicators were skewed higher by the rise in single-family market share. This quarter saw the most significant year over year decline in county-wide sales in eleven years and the sixth straight year over year rise in the median sales price. Listing inventory declined by the largest amount in fourteen years.

After noticeably stronger results in the first two and a half months in the Hamptons, listing inventory growth slowed as market awareness of Coronavirus occurred in mid-March. Listing inventory fell sharply, and sales jumped year over year for the second straight quarter. The market saw the most significant listing discount in eight and a half years as sellers were more willing to travel farther to meet the buyers on price.

After noticeably stronger results in the first two and a half months in Long Island and North Fork, listing inventory growth slowed as market awareness of Coronavirus occurred in mid-March.
In Long Island, the number of sales increased annually for the sixth time in seven quarters, and the median sales price has not seen a year over year decline in seven years. Condo listing inventory fell to a new record low in eleven years of tracking, and single-family listing inventory saw a record year over year decline in twelve years of monitoring, also to a record low.

After noticeably stronger results in the first two and a half months in Long Island and North Fork, listing inventory growth slowed as market awareness of Coronavirus occurred in mid-March.
North Fork listing inventory fell sharply year over year for the first time in six quarters. The number of sales increased annually for the second straight quarter while the median sales price rose year over year for the tenth time in twelve quarters.

Further north in Putnam County, sales rose sharply year over year before the impact of COVID-19 slowed activity at the end of the quarter. The median sales price rose year over year for the eleventh time in twelve quarters.

In Dutchess County, more sales and rising price trends occurred during the quarter until the Coronavirus cooled the market in mid-March.

In Westchester County, despite generally robust results, the Coronavirus outbreak brought down inventory at the end of the quarter. Single-family sales rose sharply but were offset by the decline in multifamily, condo, and co-op sales. Price trend indicators both county-wide and by individual property type moved higher.

The Hamptons market saw rapid listing inventory gains over the past year but took a breather this quarter. Listing inventory fell year over year for the first time in five quarters as the number of sales increased annually for the first time in eight quarters.

In Long Island, listing inventory fell to a record low as sales and prices continued to rise. The median sales price has not seen a year over year decline in twenty-seven quarters. The number of sales were up year over year for the fourth time in five quarters.

North Fork price trend indicators and sales rose year over year. Despite the surge in sales, fourth-quarter transactions were the second lowest in seven years. Condo listing inventory declined year over year for the third straight quarter.

Further north in Putnam County, median sales price reset from the record set in the prior quarter. In Dutchess County, sales have risen sharply year over year for four straight quarters.

In Westchester County, the single-family median sales price pressed higher as the luxury single-family market remained stable. The number of sales increased annually in two of the last three quarters. The hot spot for the most improved year over year sales activity was from $800,000 to $899,000.

In the condo market of Downtown Boston, year over year price trend indicators showed mixed results. Median sales price slipped year over year for the first time in six quarters, and sales fell annually for the fourth consecutive quarter. In addition, listing inventory fell annually for the seventh straight quarter.

While the pace of the one-to-three-family market remains brisk, sales continued to fall. Nearly one out of four sales closed above the last asking price, and sales declined year over year for the second straight quarter. In addition, listing inventory fell annually for the seventh consecutive quarter.

In the condo market of Downtown Boston, the median sales price continued to press higher annually as the number of sales slipped. Median sales price expanded, and listing inventory decreased year over year for the sixth consecutive quarter. With the spike in mortgage rates, the number of sales declined year over year for the third straight quarter.

In the 1-3 family market, the number of sales declined year over year for the first time in eighteen months as the median sales price continued to rise. The median sales price hasn’t seen a year over year decline since the first quarter of 2021. Listing inventory fell annually for the sixth straight quarter.

In the condo market of Downtown Boston, sales more than doubled quarter over quarter at the highest rate in a decade. Four in ten sales were sold by bidding wars, the highest market share in four years. Listing inventory declined annually for the fourth consecutive quarter while median sales price growth rose annually for the fifth consecutive quarter.

In the 1-3 family market, the number of sales stabilized annually but remained slightly above the pre-pandemic levels. The median sales price hasn’t seen a year over year decline in five quarters while listing inventory fell annually for the fifth consecutive quarter and remained below pre-pandemic levels.

In Downtown Boston, listing inventory fell sharply as bidding wars continued to be commonplace in the market. One in four condo sales went through bidding wars for the fourth straight quarter. As a result, condo listing inventory declined sharply year over year for the fourth consecutive quarter. As a result, condo price trend indicators saw significant annual gains. Still, they remained short of pre-pandemic levels.

In the 1-3 family market, the number of sales expanded annually and were above pre-pandemic levels. As a result, listing inventory for 1-3 families declined sharply year over year for the fourth consecutive quarter and fell well below pre-pandemic levels. The median sales price for 1-3 family sales hasn’t shown a year over year decline in nine years.

In Downtown Boston, the condo market remained tight as the rebound continued. Listing inventory fell sharply year over year for the third consecutive quarter. One in four sales sold higher than the last asking price, a proxy for bidding wars. All price trend indicators rose annually for the second consecutive quarter.

In the one-to-three family home market, the number of sales surged above year-ago levels, rising for the first time in five quarters. All price trend indicators surged annually for the third straight quarter. Listing inventory fell year over year for the third consecutive quarter to the same level as two years ago.

In Downtown Boston, listing inventory fell sharply as bidding wars continuedto be commonplace in the market. In the condo market, sales rose sharply year over year for the third straight quarter to the second-highest level in three years. Price trend indicators rose annually but fell short of the same period two years ago. As a result, there was the largest annual decline of listing inventory in more than eight years.

In the one-to-three family home market, sales jumped annually for the third time in four quarters. Price trend indicators rose above the prior-year quarter and same period two years ago. Listing inventory fell year over year at the largest rate in nearly seven years.

In the condo market for Downtown Boston, sales more than doubled year over year to their highest quarterly total in three years. Additionally, sales more than doubled annually to the highest second-quarter total in seventeen years. Price trend indicators showed mixed results as listing inventory fell annually for the first time in five quarters. This quarter saw the fastest-paced market in a year and a half, while negotiability was unchanged from the prior-year quarter.

Listing inventory in the one-to-three family home market fell annually for the first time in five quarters as sales more than doubled for the most quarterly sales in three years. Price trend indicators collectively rose year over for the first time in five quarters as listing inventory declined year over year the first time.

In the condo market for Downtown Boston, sales jumped to their highest first-quarter total in sixteen years. The average sales size skewed smaller year over year for the fourth straight quarter. All price trend indicators declined from the prior-year record, skewed lower by the shift to smaller sales.

The number of sales surged above year-ago levels in the townhouse market, rising for the first time in five quarters. Like the condo market, the average sales size of a townhouse skewed smaller year over year for the fourth straight quarter. Listing inventory declined sharply quarter over quarter for the second time coming out of the year-ago market pandemic pause.

In Downtown Boston, price trends fell short of year-ago levels, but listing inventory dropped sharply from the prior quarter as the condo market pace remained brisk. While the pace of the market eased from the prior-year quarter, it continued to move quickly. All three price trend indicators fell year over year collectively for the third straight quarter as average sales size slipped. While listing inventory expanded annually for the third consecutive quarter, supply dropped sharply from the prior quarter.

In the townhouse market, the number of sales surged above year-ago levels, rising from the first time in five quarters. Townhouses saw their largest year over year sales surge for a fourth-quarter in eleven years. Although listing inventory jumped annually for the third consecutive quarter, it fell sharply from the prior quarter. Median sales price declined year over year for the third straight quarter.

In Downtown Boston, sales edged higher year over year, rebounding quickly from the sharp drop in spring market activity at the onset of the COVID crisis. The number of sales edged higher year over year for the third time in four quarters. Listing inventory rose annually to the highest level in more than nine years. Median sales price declined annually for the second straight quarter after rising for the previous four.

In the townhouse market, sales clawed back most of the previous quarter’s decline in spring market activity at the onset of the COVID crisis. The number of sales declined year over year for the fourth straight quarter. Listing inventory rose sharply year over year during the past two quarters. Median sales price fell annually for the second consecutive quarter after rising for the previous seven.

In Downtown Boston, the quarter represented a market that was largely shut down by COVID-19. The median sales price declined at the same rate as average sales size in the condo market, suggesting price stability. Sales declined year over year at the highest rate in nineteen years, reflecting the extent of the near market shutdown. Listing inventory moved higher for the first time in three quarters as compared to the year-ago quarter.

In the townhouse market, all price trend indicators declined year over year, bracketing the drop in average sales size. The year over year decline in sales was also at the highest rate tracked in nineteen years. Listing inventory rose annually at the highest rate in more than four years.

In Downtown Boston, the rate of listing inventory growth slowed sharply as market awareness of Coronavirus hit at the end of March. In the condo market, the rate of listing inventory climbing to meet the spring market fell by nearly two-thirds. All three overall price trend indicators reached new records for the second straight quarter. The number of sales rose year over year for the second consecutive quarter.

In the townhouse market, the rate of listing inventory climbing to meet the spring market fell by nearly one-third. Listing inventory declined year over year for the first time in four quarters. All three overall price trend indicators set new records.

In Downtown Boston, numerous price trend indicators reached new records as the market pace remained brisk. In the condo market, despite the annual surge in sales this quarter, year to date sales fell short of last year. Listing inventory fell year over year for the first time in seven quarters.

In the townhouse market, price trend indicators increased year over year as the median price rose for the fifth straight quarter. Listing inventory remained unchanged after rising annually for the prior two quarters. The decline in sales was due to the chronic shortage of listing inventory.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

Across the region, price trends continued to rise, with many markets seeing new highs. Listing inventory expanded over the summer but remained well below pre-pandemic levels. Sales volume slowed compared to the frenzied levels of 2021 before mortgage rates spiked but remained above pre-pandemic levels. The market is coming off of one of the largest housing booms of the modern era, pivoting to more typical activity levels. However, the lack of listing inventory persists as a market condition even with the higher cost of financing. Bidding wars remained a part of the market landscape in the third quarter but with a lower share of sales.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

After being restrained by the chronic lack of listing inventory, for more than a year, rising mortgage rates, financial market volatility, and other related items such as inflation and the impact of the war have pivoted the housing market from a frenzied 24-hour market to a more normalized two-to-three month market. The Florida housing market still continues to benefit from the remote work phenomenon and favorable tax policy. While listing inventory continued its multi-year trend of year over year declines, supply generally rose quarterly at high rates. Despite the increases, supply remained sharply below pre-pandemic levels keeping upward pressure on prices.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The Florida housing market continued to see booming sales in the first quarter, enabled by the remote work phenomenon and tax policy, resulting in one of the fastest-paced markets on record. There are signs sales volume is now restrained by the continued collapse in listing inventory. In most of the housing markets tracked, listing inventory has fallen by well more than half in the past two years and bidding war market share is rising to new records. The recent rise in mortgage rates is expected to take some of the edge off the sales frenzy allowing some additional listing inventory to enter the market but it is expected to be inadequate to satiate demand.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The demand momentum across the regions was unprecedented in the fourth quarter, continuing to be fueled by low mortgage rates, a low tax environment, and the potential opportunities created by remote work. However, listing inventory declines are accelerating, unable to keep pace with heavy demand. As a result, potential sales have been restrained by lower supply, driving housing prices higher.

The large decline in the availability of listings and rapid annual rise in sales has created an unusually fast market pace in Boca Raton/Highland Beach. Condo median sales price and the market share of bidding wars both rose to a new record. Single family price trend indicators surged year over year and above the same period two years ago. Luxury condo inventory fell annually at the highest rate on record.

Nearly all price trend indicators in Coral Gables and the market share of bidding wars across property types reached records. Condo average sales price surged to a new record, partly aided by the shift to larger-sized sales. Single family price trend indicators jumped to new records as listing inventory fell sharply to a new low while the luxury condo market had the fastest pace seen in at least three years.

In Delray Beach, listing inventory dropped sharply, restraining sales and providing upward price pressure. Condo listing inventory dropped, creating the fastest-paced market on record. Single family median sales price rose to a record for the third straight month. Luxury condo inventory fell to a record low as all price trend indicators rose annually.

Listing inventory in Fort Lauderdale declined sharply, restraining sales levels and maintaining upward price pressure. Condo listing inventory fell to a record low as sales surged, creating the second-fastest paced market on record. Single family price trend indicators and sales rose to records. Luxury single family price trend indicators surged annually to their second-highest levels on record.

Single family price trend indicators in Jupiter continued to surge above the previous year and the same period two years ago. Condo’s median sales price rose to a record for the second consecutive quarter. In Palm Beach Gardens, single family median sales price rose to a record for the third straight quarter. Condo average sales price rose to a record as listing inventory dropped to a new low.

In Manalapan, which includes Manalapan, Hypoluxo Island, and Ocean Ridge, the large decline in the availability of listings and more sales created a faster-moving market. Single family median sales price rose year over year for the third consecutive quarter. Single family listing inventory fell sharply year over year to its second-lowest level. Condo price trend indicators increased above year-ago levels and the same period two years ago.

In the Miami Beach/Barrier Islands market, there were large annual sales gains for the fifth straight quarter despite a large decline in listing inventory. Condo sales nearly doubled from the prior year quarter and more than doubled from the same period two years ago. Single family price trend indicators surged annually to record levels. The luxury condo market pace was the second-fastest in eight years as listing inventory fell annually for the fifth consecutive quarter.

All price trend indicators in Miami Coastal Mainland increased to record levels as sales levels remained unusually high. Condo price trend indicators rose to record levels as sales surged annually to the second-highest total in more than eight years. Single family price trend indicators surged annually to record levels as listing inventory fell sharply. The luxury condo market share of cash buyers was at its highest level in five years.

Overall listing inventory in the Palm Beach market declined by a record rate to the lowest level in nearly a decade. Condo marketing time and listing inventory fell to their lowest levels on record. Single family price trend indicators rose to records for the second straight quarter. Luxury single family price trend indicators nearly doubled to record or near-record levels.

On the West Coast of Florida in St. Petersburg, prices pressed to record levels as listing inventory continued to fall. Single family price trend indicators surged to set records for the fourth consecutive quarter. Condo listing inventory fell sharply to the lowest level in more than three years. Luxury condo price trend indicators surged annually and well above the same period two years ago.

In South Tampa, single family price trend indicators rose to records as listing inventory fell annually every quarter for the past two years. Luxury median sales price increased sharply year over year for the past five quarters. In Greater Downtown Tampa, Hyde Park, Davis Island, and Harbour Island, sales slipped annually as the sharp decline in listing inventory restrained activity. Overall price trend indicators for the region continued to rise sharply from year-ago levels.

Wellington’s housing market continued to see record prices along with sharply falling supply. Condo price trend indicators rose to records as listing inventory fell annually. Single family median sales rose to a record for the third consecutive quarter.

In West Palm Beach, prices pressed higher as supply continued to tumble. Condo sales rose to a new record as listing inventory dropped sharply to a new low. Single family price trend indicators rose to new records for the third consecutive quarter.

Boca Raton/Highland Beach's brisk market conditions continued into the new year with record highs for pricing and sales but with chronically low listing inventory. As a result, condo price trend indicators and the number of sales surged to new records. Single family price trend indicators jumped to new records as the number of sales rose sharply. Luxury condo price trend indicators surged annually to reach new records for the second straight quarter.

The overall market in Coral Gables moved at a record pace with an elevated market share of bidding wars. Single family median and average sales price and the number of sales rose to new highs. Condo listing inventory declined to a new low as the number of sales jumped to a new high. Luxury single family and condo listing inventory fell sharply year over year.

The Delray Beach market continued to see record and near-record highs for prices and sales volume, as well as record lows for listing inventory and marketing times. Single family price trend indicators and sales jumped to new records. Condo listing inventory fell dropped to a new low as price trend indicators showed mixed results. Luxury single family listing inventory fell to the lowest on record for the second straight quarter.

The Fort Lauderdale market continued to see record highs for prices and sales volume, as well as record lows for listing inventory. Condo listing inventory fell sharply as the number of sales rose to a new record. Single family price trend indicators, as well as the number of sales, rose to new highs. Luxury single family price trend indicators jumped year over year to new records.

Single family price trend indicators and the number of sales in Jupiter surged year over year. In addition, condo price trend indicators jumped annually as listing inventory fell to a record low. In Palm Beach Gardens, single family price trend indicators and sales rose to a new record. Likewise, condo price trend indicators increased annually as listing inventory fell to a new low.

In Manalapan, which includes Manalapan, Hypoluxo Island, and Ocean Ridge, the market continued to see significant year over year gains for sales and price trend indicators and new lows for listing inventory. Single family sales surged year over year for the fourth straight quarter as listing inventory fell to a new low for the second consecutive quarter. In addition, Ocean Ridge condo sales and price trend indicators surged year over year.

In the Miami Beach/Barrier Islands market, condo sales quintupled year over year as the market moved at its fastest pace in more than eight years. Condo price trend indicators rose sharply to new records for the second consecutive quarter. Single family average price per square foot rose to a new record for the fourth consecutive quarter. Luxury condo months of supply plunged over the past year as all price trend indicators set new records.

In Miami Coastal Mainland, all single family price trend indicators reached new records in each past five quarters. Condo sales tripled year over year to a new record as listing inventory fell sharply over the same period. Single family months of supply fell to record or near-record lows over the past four quarters. Luxury condo purchasers relied on cash more than any other quarter in the past five years.

The Palm Beach market continued to see record highs for prices and sales volume, as well as record lows for listing inventory. Condo sales nearly quadrupled year over year to the highest level on record. Single family price trend indicators surged to set new records. Luxury listing inventory tied the record low set in the same period last year.

On the West Coast of Florida, the St. Petersburg market continued to see large annual gains in prices and sales volume, as well as significant declines in listing inventory. Single family price trend indicators surged to set new records. Condo sales surged year over year as listing inventory fell to a record low. Luxury condo listing inventory fell to the lowest tracked in at least three years.

In South Tampa, condo sales nearly doubled as listing inventory declined to a record low for the second straight quarter. Likewise, luxury listing inventory fell to a record low as all price trend indicators surged to record highs. In Greater Downtown Tampa, Hyde Park, Davis Island, and Harbour Island, overall price trend indicators for the region continued to rise sharply from year-ago levels. As a result, regional sales surged annually for the fourth straight quarter as listing inventory fell sharply.

Wellington's housing market continued to see record highs for prices as well as record lows for listing inventory. Condo's median sales price rose to a new record for the second straight month. Single family price trend indicators and sales jumped to new records. Luxury single family price trend indicators rose to record highs.

The West Palm Beach market continued to see large annual gains in prices and sales volume, as well as record lows for listing inventory. Condo sales nearly doubled year over year as listing inventory fell sharply. Single family price trend indicators surged to set new records. Luxury single family price trend indicators reached new records for the second straight quarter.

Boca Raton/Highland Beach’s brisk market conditions continued into the new year with record highs for pricing and sales but with chronically low listing inventory. Single family median sales price rose to a new record for the second straight quarter as listing inventory plummeted to a record low. Condo sales surged year over year to a new record. Luxury single family listing inventory fell year over year for the eighth straight decline to a new low.

Coral Gables saw record highs for pricing and sales but limited supply. Single family sales and median sales price set new record highs as listing inventory remained in short supply. Condo’s median sales price showed stability as listing inventory fell annually for the seventh straight quarter.

Delray Beach continued to see record-high pricing and sales. Single-family price trend indicators rose to record highs while listing inventory dropped to a new low. Condo sales surged year over year to a new record as listing inventory plummeted to reach a new low.

Fast-moving market conditions in Fort Lauderdale continued into the new year, surging sales and unusually low listing inventory. All condo price trend indicators reach record highs as the market pace moved to the fastest on record. Luxury single family listing inventory fell to a new low as the market pace became the fastest on record.

Single family price trend indicators in Jupiter reached new records as listing inventory fell to a new low. Condo sales surged to the second-highest on record as the market pace moved to the fastest recorded.

In Palm Beach Gardens, single family price trend indicators also reached new records and condo months of supply moved to the fastest recorded.

In Manalapan, which includes Manalapan, Hypoluxo Island, and Ocean Ridge, price trend indicators were skewed higher by the surge in sales size while listing inventory could not keep up with sales levels. Ocean Ridge condo sales surged year over year as listing inventory fell sharply.

The Miami Beach/Barrier Islands market was characterized by record pricing, heavy sales volume, and a sharp decline in listing inventory. All single family price trend indicators surged to record highs as sales nearly tripled. Condo price trend indicators also surged year over year at a record rate to new highs. With the sharp rise in condo sales and drop in listing inventory, the luxury market pace was the fastest in seven years.

In Miami Coastal Mainland, condo sales rose annually for the third straight quarter as listing inventory fell for the seventh time. All single family price trend indicators set new records collectively for the fourth straight quarter. Luxury condo price trend indicators continued to rise as listing inventory fell annually for the third straight quarter.

Price trend indicators and sales rose sharply as listing inventory continued to fall in Palm Beach. Single family price trend indicators surged as listing inventory dropped to the lowest on record. Condo sales nearly doubled year over year to the highest level on record. Luxury listing inventory plummeted year over year for the fifth straight quarter.

On the West Coast of Florida, the St. Petersburg market saw record pricing, heavy sales volume, and a sharp decline in listing inventory. Single family price trend indicators surged to new records as listing inventory fell sharply. Condo sales realized significant annual gains for the third straight quarter. Luxury single family price trend indicators surged year over year to new records.

In South Tampa, single family sales surged annually for the third consecutive quarter as price trend indicators set records. Condo sales more than doubled while listing inventory fell by half from the prior-year quarter. In Greater Downtown Tampa, Hyde Park, Davis Island, and Harbour Island, price trend indicators rose sharply from year-ago levels. Downtown condo sales pressed higher as price trend indicators showed mixed trends.

Wellington’s overall market was characterized by rising prices, heavy sales volume, and a sharp decline in listing inventory. Single family average sales price jumped to a new record as listing inventory declined to a new low. Condo’s median sales price rose year over year for the eighteenth straight quarter. Luxury single family median sales price surged annually for the third consecutive quarter.

The West Palm Beach market saw rising prices and significant sales volume, as well as a significant decline in listing inventory. Condo sales surged to a new record as listing inventory fell to a new low. Single family price trend indicators jumped to new records as listing inventory fell to a new low.

In Miami Beach/Barrier Islands, single family and condo price trend indicators and sales rose against the backdrop of falling listing inventory. The market saw the most condo sales in more than five years, while price trend indicators were skewed higher by larger sized sales. Record price trend indicators and the number of sales for single families reached. Luxury condo price trend indicators continued to jump year over year, aided by the rise in average sales size.

In Miami Coastal Mainland, record single family and condo price trend indictors and sales rose as listing inventory declined. Condo price trend indicators and sales moved higher as listing inventory slipped to a three-year low. Single family price trend indicators set new records as sales surged year over year by their largest amount in seven years. Luxury condo price trend indicators continued to rise year over year, but listing inventory fell at its largest rate in nearly seven years.

Sales in Boca Raton/Highland Beach rose sharply higher year over year, rebounding quickly from the restraint of spring market activity at the onset of the COVID crisis. Single family surged to record average and median sales prices as days on market fell to a new low. Condo price trend indicators showed strong annual gains as listing inventory fell for the first time in three quarters. All luxury single family price trend indicators jumped to new records, helped by the surge in average sales size to a new record.

Sales in Coral Gables rose sharply higher year over year, rebounding quickly from the spring market lockdown. Single family sales and median sales price surged to a record high as listing inventory fell to a record low. Condo listing inventory fell to a record low as the number of sales surged by its highest annual rate in nearly seven years, and luxury condo price trend indicators surged as listing inventory fell for the fifth time in six quarters.

In Delray Beach, single family and condo listing inventory for the overall and luxury markets fell from year-ago levels. Single family sales surged to a record level as listing inventory dropped to a four-year low and condo sales fell annually for the second time in three quarters. Single family sales size expanded while condo average sales size declined, helping to skew price trends.

Single family and condo listing inventory in Fort Lauderdale for the overall and luxury markets fell from year-ago levels. All condo price trend indicators rose year over year as the number of sales jumped for the second straight month. There were no year over year declines in single family price trend indicators, collectively for the sixth consecutive quarter and single family median sales price increased annually for the eighth consecutive quarter.

Single family and condo sales in Jupiter surged as listing inventory declined. Price trend indicators for both property types pressed higher year over year. In Palm Beach Gardens, single family sales increased to their highest number in more than five years. Condo listing inventory fell faster than the number of sales over the past year, keeping the market pace brisk.