Market Reports

December 2020 Manhattan, Brooklyn & Queens Rentals

December 2020 Manhattan, Brooklyn Queens rentals

December 2020 Manhattan, Brooklyn & Queens Rentals

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.

Brooklyn Q4 2020

Brooklyn Q4 2020

Brooklyn Q4 2020

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.

Queens Q4 2020

Queens Q4 2020

Queens Q4 2020

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.

Queens Northwest Q4 2020

Queens Northwest Q4 2020

Queens Northwest Q4 2020

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.

Riverdale Q4 2020

Riverdale Q4 2020

Riverdale Q4 2020

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.

Manhattan Q4 2020

Manhattan Q4 2020

Manhattan Q4 2020

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.

Northern Manhattan Q4 2020

Northern Manhattan Q4 2020

Northern Manhattan Q4 2020

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 York December 2020 New Signed Contracts

December - New Contracts

New York December 2020 New Signed Contracts

November 2020 Manhattan, Brooklyn & Queens Rentals

November 2020 Manhattan ,Brooklyn Queens rentals

November 2020 Manhattan, Brooklyn & Queens Rentals

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 York November 2020 New Signed Contracts

November - New Contracts

New York November 2020 New Signed Contracts

New York October 2020 New Signed Contracts

October - New Contracts

New York October 2020 New Signed Contracts

Brooklyn Q3 2020

Brooklyn Q3 2020

Brooklyn Q3 2020

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.

Queens Q3 2020

Queens Q3 2020

Queens Q3 2020

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.

Queens Northwest Q3 2020

Queens Northwest Q3 2020

Queens Northwest Q3 2020

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.

Riverdale Q3 2020

Riverdale Q3 2020

Riverdale Q3 2020

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.

Manhattan Q3 2020

Manhattan Q3 2020

Manhattan Q3 2020

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.

Northern Manhattan Q3 2020

Northern Manhattan Q3 2020

Northern Manhattan Q3 2020

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.

New York September 2020 New Signed Contracts

September - New Contracts

New York September 2020 New Signed Contracts

New York August 2020 New Signed Contracts

August - New Contracts

New York August 2020 New Signed Contracts

Brooklyn Q2 2020

Brooklyn Q2 2020

Brooklyn Q2 2020

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.

Queens Q2 2020

Queens Q2 2020

Queens Q2 2020

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.

June 2020 Manhattan, Brooklyn, & Queens Rentals

June 2020 Manhattan, Brooklyn, & Queens Rentals

June 2020 Manhattan, Brooklyn, & Queens Rentals

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.

Queens Northwest Q2 2020

Queens Northwest Q2 2020

Queens Northwest Q2 2020

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.

Riverdale Q2 2020

Riverdale Q2 2020

Riverdale Q2 2020

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.

Manhattan Q2 2020

Manhattan Q2 2020

Manhattan Q2 2020

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.

Northern Manhattan Q2 2020

Northern Manhattan Q2 2020

Northern Manhattan Q2 2020

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.

New York June 2020 New Signed Contracts

New York June 2020 New Signed Contracts

New York June 2020 New Signed Contracts

New York May 2020 New Signed Contracts

New York May 2020 New Signed Contracts

New York May 2020 New Signed Contracts

May 2020 Manhattan, Brooklyn, & Queens Rentals

May 2020 Manhattan, Brooklyn, & Queens Rentals

May 2020 Manhattan, Brooklyn, & Queens Rentals

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.

April 2020 Manhattan, Brooklyn, & Queens Rentals

Rentals April 2020

April 2020 Manhattan, Brooklyn, & Queens Rentals

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.

March 2020 Manhattan, Brooklyn, & Queens Rentals

Rentals Mar 2020

March 2020 Manhattan, Brooklyn, & Queens Rentals

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.

Brooklyn Q1 2020

Brooklyn-Q1_2020-1

Brooklyn Q1 2020

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.

Queens Q1 2020

QueensQ1 2020

Queens Q1 2020

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.

Queens Northwest Q1 2020

Queens Northwest Q12020

Queens Northwest Q1 2020

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.

Riverdale Q1 2020

Riverdale Q12020

Riverdale Q1 2020

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.

Northern Manhattan Q1 2020

Northern Manhattan Q1 2020

Northern Manhattan Q1 2020

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.

Manhattan Q1 2020

Manhattan Q1 2020

Manhattan Q1 2020

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.

February 2020 Manhattan, Brooklyn & Queens Rentals

February 2020 Manhattan, Brooklyn & Queens Rentals

February 2020 Manhattan, Brooklyn & Queens Rentals

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.

Brooklyn Q4 2019

Brooklyn Q4 2019

Brooklyn Q4 2019

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.

Manhattan Q4 2019

Manhattan Q4 2019

Manhattan Q4 2019

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.

Manhattan Decade 2019

Manhattan Decade 2019

Manhattan Decade 2019

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.

Manhattan Townhouse Decade 2019

Manhattan Townhouse Decade 2019

Manhattan Townhouse Decade 2019

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.

Northern Manhattan Q4 2019

Northern Manhattan Q4 2019

Northern Manhattan Q4 2019

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.

Queens Q4 2019

Queens Q4 2019

Queens Q4 2019

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.

Queens Northwest Q4 2019

Queens Northwest Q4 2019

Queens Northwest Q4 2019

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.

December 2019 Manhattan, Brooklyn, & Queens Rentals

December 2019 Manhattan, Brooklyn, & Queens Rentals

December 2019 Manhattan, Brooklyn, & Queens Rentals

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.

Riverdale Q4 2019

Riverdale Q4 2019

Riverdale Q4 2019

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.

Putnam & Dutchess Q4 2020

Putnam & Dutchess Q4 2020

Putnam & Dutchess Q4 2020

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.

Westchester Q4 2020

Westchester Q4 2020

Westchester Q4 2020

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.

New York December 2020 New Signed Contracts

December - New Contracts

New York December 2020 New Signed Contracts

New York November 2020 New Signed Contracts

November - New Contracts

New York November 2020 New Signed Contracts

October 2020 Manhattan, Brooklyn, & Queens Rentals

October 2020 Manhattan, Brooklyn, & Queens Rentals

October 2020 Manhattan, Brooklyn, & Queens Rentals

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 York October 2020 New Signed Contracts

October - New Contracts

New York October 2020 New Signed Contracts

Hamptons Q3 2020

Hamptons Q3 2020

Hamptons Q3 2020

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.

Long Island Q3 2020

Long Island Q3 2020

Long Island Q3 2020

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.

North Fork Q3 2020

North Fork Q3 2020

North Fork Q3 2020

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.

September 2020 Manhattan, Brooklyn, & Queens Rentals

September 2020 Manhattan, Brooklyn, & Queens Rentals

September 2020 Manhattan, Brooklyn, & Queens Rentals

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.

Putnam & Dutchess Q3 2020

Putnam & Dutchess Q3 2020

Putnam & Dutchess Q3 2020

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.

Westchester Q3 2020

Westchester Q3 2020

Westchester Q3 2020

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.

New York September 2020 New Signed Contracts

September - New Contracts

New York September 2020 New Signed Contracts

August 2020 Manhattan, Brooklyn, & Queens Rentals

August 2020 Manhattan, Brooklyn, & Queens Rentals

August 2020 Manhattan, Brooklyn, & Queens Rentals

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.

New York August 2020 New Signed Contracts

August - New Contracts

New York August 2020 New Signed Contracts

July 2020 Manhattan, Brooklyn, & Queens Rentals

July 2020 Manhattan, Brooklyn, & Queens Rentals

July 2020 Manhattan, Brooklyn, & Queens Rentals

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.

New York July 2020 New Signed Contracts

July - New Contracts

New York July 2020 New Signed Contracts

Hamptons Q2 2020

Hamptons Q2 2020

Hamptons Q2 2020

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.

Long Island Q2 2020

Long Island Q2 2020

Long Island Q2 2020

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.

North Fork Q2 2020

North Fork Q2 2020

North Fork Q2 2020

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.

Putnam & Dutchess Q2 2020

Putnam & Dutchess Q2 2020

Putnam & Dutchess Q2 2020

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.

Westchester Q2 2020

Westchester Q2 2020

Westchester Q2 2020

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.

New York June 2020 New Signed Contracts

New York June 2020 New Signed Contracts

New York June 2020 New Signed Contracts

New York May 2020 New Signed Contracts

New York May 2020 New Signed Contracts

New York May 2020 New Signed Contracts

Hamptons Q1 2020

Hamptons Q1 2020

Hamptons Q1 2020

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.

Long Island Q1 2020

Long Island Q1 2020

Long Island Q1 2020

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.

North Fork Q1 2020

North Fork Q1 2020

North Fork Q1 2020

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.

Putnam & Dutchess Q1 2020

Putnam & Dutchess Q1 2020

Putnam & Dutchess Q1 2020

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.

Westchester Q1 2020

Westchester Q1 2020

Westchester Q1 2020

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.

Hamptons Q4 2019

Hamptons Q4 2019

Hamptons Q4 2019

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.

Hamptons And North Fork Decade Report 2010-2019

Hamptons And North Fork Decade Report 2010-2019

Hamptons And North Fork Decade Report 2010-2019

Long Island Q4 2019

Long Island Q4 2019

Long Island Q4 2019

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.

Long Island Decade Report 2010-2019

Long Island Decade Report 2010-2019

Long Island Decade Report 2010-2019

North Fork Q4 2019

North Fork Q4 2019

North Fork Q4 2019

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.

Putnam & Dutchess Q4 2019

Putnam & Dutchess Q4 2019

Putnam & Dutchess Q4 2019

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.

Westchester Q4 2019

Westchester Q4 2019

Westchester Q4 2019

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.

Downtown Boston Q3 2020

Downtown Boston Q3 2020

Downtown Boston Q3 2020

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.

Downtown Boston Q2 2020

Downtown Boston Q2 2020

Downtown Boston Q2 2020

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.

Downtown Boston Q1 2020

Downtown Boston Q1 2020

Downtown Boston Q1 2020

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.

Downtown Boston Q4 2019

Downtown Boston Q4 2019

Downtown Boston Q4 2019

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.

Florida December 2020 New Signed Contracts

December - New Contracts

Florida December 2020 New Signed Contracts

Florida November 2020 New Signed Contracts

November - New Contracts

Florida November 2020 New Signed Contracts

Florida October 2020 New Signed Contracts

October - New Contracts

Florida October 2020 New Signed Contracts

Boca Raton/Highland Beach Q3 2020

Boca Raton/Highland Beach Q3 2020

Boca Raton/Highland Beach Q3 2020

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. In a rebound from the prior quarter, condo and single family sales saw their largest annual rise in seven years. All single family price trend indicators rose year over year as sales saw its largest jump in nearly nine years. All luxury condo price trend indicators showed a substantial year over year increase.

Coral Gables Q3 2020

Coral Gables Q3 2020

Coral Gables Q3 2020

Total market sales in Coral Gables pressed higher year over year, rebounding quickly from the restraint of spring market activity at the onset of the COVID crisis. Single family sales surged, and listing inventory fell from the prior-year quarter as the lockdown ended. Condo listing inventory declined annually for the fifth consecutive quarter, and luxury single family listing inventory declined sharply year over year for five straight quarters.

Delray Beach Q3 2020

Delray Beach Q3 2020

Delray Beach Q3 2020

In Delray Beach, total market sales pressed higher year over year, rebounding quickly from the restraint of spring market activity at the onset of the COVID crisis. Single family sales increased at their highest year over year rate in five years, and condo sales reached their highest third-quarter total in twenty-two years of tracking. Both single family and condo luxury listing inventory fell sharply from the prior year total.

Fort Lauderdale Q3 2020

Fort Lauderdale Q3 2020

Fort Lauderdale Q3 2020

Sales rose higher year over year in Fort Lauderdale, rebounding quickly from the restraint of spring market activity at the onset of the COVID crisis. All condo price trend indicators rose year over year as the number of sales jumped. Single family sales surged, and listing inventory fell sharply from the prior-year quarter. Single family median sales price increased annually for the eighth consecutive quarter.

Jupiter/Palm Beach Gardens Q3 2020

Jupiter/Palm Beach Gardens Q3 2020

Jupiter/Palm Beach Gardens Q3 2020

Single family sales in Jupiter jumped year over year as listing inventory dropped sharply. There were the most third-quarter condo sales in fifteen years. In Palm Beach Gardens, there were the most third quarter single family sales in fifteen years. Condo listing inventory declined annually for the sixth straight quarter.

Manalapan Q3 2020

Manalapan Q3 2020

Manalapan Q3 2020

In Manalapan, which includes Manalapan, Hypoluxo Island, and Ocean Ridge, sales rose higher year over year, rebounding quickly from the restraint of spring market activity at the onset of the COVID crisis. Single family sales surged from the year-ago quarter, rising for the first time five quarters. Listing inventory declined annually for the third time in the four recent quarters, and all price trend indicators slipped from year-ago levels as listing discount rose to the highest level in more than a year.

Miami Beach Q3 2020

Miami Beach Q3 2020

Miami Beach Q3 2020

Miami Beach/Barrier Islands sales rose higher year over year, rebounding quickly from the restraint of spring market activity at the onset of the COVID crisis. Condo price trend indicators increased as sales and listing inventory edged higher. Overall single family price trend indicators set new records as sales surged year over year and luxury condo price trend indicators jumped year over year, aided by a shift to larger sized sales.

Miami Coastal Mainland Q3 2020

Miami Coastal Mainland Q3 2020

Miami Coastal Mainland Q3 2020

In Miami Coastal Mainland, sales rose higher year over year, rebounding quickly from the restraint of spring market activity at the onset of the COVID crisis. 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 rose to their highest level in more than five years. Luxury condo price trend indicators increased year over year as listing inventory declined annually for the second time in three quarters.

Palm Beach Q3 2020

Palm Beach Q3 2020

Palm Beach Q3 2020

Sales in Palm Beach rose higher year over year, rebounding quickly from the restraint of spring market activity at the onset of the COVID crisis. All three condo price trend indicators increased year over year for the fifth straight quarter. Single family sales nearly tripled from the year-ago quarter as listing inventory fell sharply. Luxury listing inventory fell significantly year over year for the third consecutive quarter.

Royal Palm Q3 2020

Royal Palm Q3 2020

Royal Palm Q3 2020

St. Petersburg Q3 2020

St. Petersburg Q3 2020

St. Petersburg Q3 2020

On the West Coast of Florida, in St. Petersburg, sales rose higher year over year, rebounding quickly from the restraint of spring market activity at the onset of the COVID crisis. Single family price median sales price has risen annually each quarter for nearly nine years. Condo listing inventory has declined year over year for the first time in six quarters. Markets including Snell Isle, Historic Old Northeast, and Downtown have all seen large year over year gains in sales levels.

Tampa Q3 2020

Tampa Q3 2020

Tampa Q3 2020

In South Tampa, single family sales fell annually for the third time in four quarters as inventory posted a large decline. Condo listing inventory declined for the fifth consecutive quarter as the overall price trend indicators pressed higher.

In Greater Downtown Tampa, downtown price trend indicators and sales rose above prior-year quarter levels. Davis Island sales and price trend indicators increased as listing inventory slipped.

Wellington Q3 2020

Wellington Q3 2020

Wellington Q3 2020

In the Wellington market, condo sales surged annually at their highest rate in eleven years as listing inventory edged higher for the second straight quarter. Single family median sales price rose annually for the twelfth straight quarter as listing inventory dropped sharply. Luxury condo median sales price more than doubled year over year as listing inventory saw a significant annual decline.

West Palm Beach Q3 2020

West Palm Beach Q3 2020

West Palm Beach Q3 2020

In West Palm Beach, condo median sales price has risen in all but one quarter on a year over year basis for more than eight years. Single family listing inventory has fallen at a rising year over year rate for five consecutive quarters, and luxury condo listing inventory has posted large annual gains for three of the past four quarters.

Florida September 2020 New Signed Contracts

September - New Contracts

Florida September 2020 New Signed Contracts

Florida August 2020 New Signed Contracts

August - New Contracts

Florida August 2020 New Signed Contracts

Boca Raton/Highland Beach Q2 2020

Boca Raton/Highland Beach Q2 2020

Boca Raton/Highland Beach Q2 2020

Boca Raton/Highland Beach condo sales declined year over year at its highest rate in 13 years as median sales price increased. Single-family sales declined year over year at its highest rate in 13 years as median sales price surged. The median sales price of a luxury condo declined while luxury single-family median sales price rose.

Coral Gables Q2 2020

Coral Gables Q2 2020

Coral Gables Q2 2020

In Coral Gables, single-family listing inventory declined as would-be sellers delayed their plans as the market paused. Condo sales and listing inventory declined year over year. Luxury condo and luxury single-family listing inventory saw significant annual declines too.

Delray Beach Q2 2020

Delray Beach Q2 2020

Delray Beach Q2 2020

Single-family sales declined in Delray Beach at the most significant year over year rate in over thirteen years as the market paused. Condo median sales price was unchanged year over year, the eighteenth straight quarter without a decline. Luxury single-family listing inventory declined annually as luxury condo listing inventory saw a significant gain.

Fort Lauderdale Q2 2020

Fort Lauderdale Q2 2020

Fort Lauderdale Q2 2020

In Fort Lauderdale, condo sales dropped at the highest rate in more than thirteen years as all price trend indicators rose annually. Single-family sales fell at the most significant rate since 2007 as median sales price stabilized. Price trend indicators for luxury condos increased above year-ago levels at their most robust rate in six quarters.

Jupiter/Palm Beach Gardens Q2 2020

Jupiter/Palm Beach Gardens Q2 2020

Jupiter/Palm Beach Gardens Q2 2020

Single-family sales price trend indicators and sales continued to show substantial year over year growth in Jupiter. Condo price trend indicators rose year over year for the fourth straight quarter. In Palm Beach Gardens, single-family sales fell at their most significant rate in fourteen years. Condo price trend indicators rose year over year for the third consecutive quarter.

Manalapan Q2 2020

Manalapan Q2 2020

Manalapan Q2 2020

In Manalapan, which includes Manalapan, Hypoluxo Island, and Ocean Ridge, single-family price trend indicators showed mixed results with a significant increase in sales size. Listing inventory and the number of sales fell well short of prior-year levels. Marketing time for properties that closed in the quarter continued to trend higher.

Miami Beach Q2 2020

Miami Beach Q2 2020

Miami Beach Q2 2020

Miami Beach condo price trend indicators moved higher as the number of sales dropped during the shutdown. Single-family price trend indicators continued to decline along with sales and listing inventory year over year. Price trend indicators of luxury condos pressed higher as listing inventory showed a slight gain.

Miami Coastal Mainland Q2 2020

Miami Coastal Mainland Q2 2020

Miami Coastal Mainland Q2 2020

In Miami Coastal Mainland, condo listing inventory and the number of sales declined, as the median sales price reached a new record. Single-family median sales price rose to a new record as both sales and listing inventory fell sharply. Price trend indicators of luxury condos showed mixed results, as the number of sales saw a significant decline.

Palm Beach Q2 2020

Palm Beach Q2 2020

Palm Beach Q2 2020

Condo price trend indicators jumped as the largest average sales size in two years skewed them higher in Palm Beach. Single-family listing inventory fell by the largest rate in seven years of tracking. Luxury listing inventory showed a substantial drop as price trend indicators surged year over year.

Royal Palm Q2 2020

Royal Palm Q2 2020

Royal Palm Q2 2020

St. Petersburg Q2 2020

St. Petersburg Q2 2020

St. Petersburg Q2 2020

On the West Coast of Florida, in St. Petersburg, single-family listing inventory and sales showed steep declines while median sales price rose annually for the thirty-fourth straight quarter. Condo price trend indicators increased year over year for the first time in three quarters. Price trend indicators showed mixed results across the luxury submarkets of Snell Isle, Historic Old Northeast, and Downtown.

Tampa Q2 2020

Tampa Q2 2020

Tampa Q2 2020

In South Tampa, single-family price trend indicators moved higher as sales and listing inventory fell sharply. Condo price trend indicators showed mixed results as listing inventory slipped, and sales dropped.

In Greater Downtown Tampa, Harbour Island saw a significant price skew as the average sales size surged. The number of sales in the region showed a significant rate of decline across the four submarkets.

Wellington Q2 2020

Wellington Q2 2020

Wellington Q2 2020

In the Wellington market, condo sales declined sharply as the median sales price increased year over year for the fifteenth straight quarter. Single-family listing inventory and sales showed sharp declines from prior-year levels. Luxury listing inventory across both property types jumped from the prior year.

West Palm Beach Q2 2020

West Palm Beach Q2 2020

West Palm Beach Q2 2020

In West Palm Beach, condo sales declined annually at their largest rate in thirteen years as all price trend indicators increased year over year. Single-family listing inventory and sales showed a significant year-over-year decline as median sales price rose for the fourth straight quarter. Luxury single-family listing inventory declined annually as luxury condo listing inventory saw a substantial gain.

Boca Raton/Highland Beach Q1 2020

Boca Raton/Highland Beach Q1 2020

Boca Raton/Highland Beach Q1 2020

Boca Raton/Highland Beach condo listing inventory fell year over year for the sixth consecutive quarter with the most significant decline in the current quarter. Single-family listing inventory declined annually over the past four quarters at a rising rate.

Coral Gables Q1 2020

Coral Gables Q1 2020

Coral Gables Q1 2020

In Coral Gables, single-family median sales price rose year over year for the second time in three quarters. Condo price trend indicators fell as the number of sales expanded.

Delray Beach Q1 2020

Delray Beach Q1 2020

Delray Beach Q1 2020

Single-family median sales price in Delray Beach hasn’t shown a year over year decline in four quarters. Condo listings fell annually for four straight quarters.

Fort Lauderdale Q1 2020

Fort Lauderdale Q1 2020

Fort Lauderdale Q1 2020

In Fort Lauderdale, condo price trend indicators pressed higher as sales slipped year over year. Single-family sales and price trend indicators posted substantial annual gains.

Jupiter/Palm Beach Gardens Q1 2020

Jupiter/Palm Beach Gardens Q1 2020

Jupiter/Palm Beach Gardens Q1 2020

Single-family sales price trend indicators and sales showed substantial annual gains in Jupiter. Condo sales declined as price trend indicators pressed higher from year-ago levels. In Palm Beach Gardens, single-family sales price trend indicators were mixed as sales jumped year over year. Condo sales and price trend indicators showed robust annual increases.

Manalapan Q1 2020

Manalapan Q1 2020

Manalapan Q1 2020

In Manalapan, which includes Manalapan, Hypoluxo Island, and Ocean Ridge, single-family price trend indicators posted sizable year over year increases. The number of sales fell for the third straight quarter on a year over year basis. Listing inventory edged higher year over year after three consecutive, quarters of declines.

Miami Beach Q1 2020

Miami Beach Q1 2020

Miami Beach Q1 2020

Miami Beach overall listing inventory declined year over year for condos and single-family properties.

Miami Coastal Mainland Q1 2020

Miami Coastal Mainland Q1 2020

Miami Coastal Mainland Q1 2020

In Miami Coastal Mainland, overall listing inventory declined sharply year over year for both property types.

Palm Beach Q1 2020

Palm Beach Q1 2020

Palm Beach Q1 2020

Listing inventory for condos, single-family properties and, luxury fell sharply from year-ago levels in Palm Beach. All three condo price trend indicators rose year over year for the third straight quarter. This quarter saw the most significant year over year increase in single-family sales in six years.

Royal Palm Q1 2020

Royal Palm Q1 2020

Royal Palm Q1 2020

Real estate market participants became fully aware of the Coronavirus global pandemic after two significant rate cuts by the Federal Reserve and the state stay-at-home orders. As a result, the final two weeks of the quarter saw limited activity. New Year 2020 through mid-March 2020 • Single-family sales remained at 15 as compared to the same period last year and have averaged 14.2 sales per quarter during the previous five years.

St. Petersburg Q1 2020

St. Petersburg Q1 2020

St. Petersburg Q1 2020

On the West Coast of Florida, in St. Petersburg, listing inventory for single-family properties slipped as condos surged from year-ago levels. All three single-family price trend indicators rose year over year together for the seventeenth straight quarter. All three condo price trend indicators were skewed lower by aa significant year over year drop in average sales size.

Tampa Q1 2020

Tampa Q1 2020

Tampa Q1 2020

In South Tampa, listing inventory across the region and property type showed year over year declines. In Greater Downtown Tampa, Downtown and David Island showed significant price gains from the year-ago quarter. Listing inventory growth across the region was either low or saw declines from the prior year.

Wellington Q1 2020

Wellington Q1 2020

Wellington Q1 2020

In the Wellington market, condo price trend indicators and sales rose as listing inventory declined from the prior year. Single-family sales and price trend indicators moved higher year over year as listing inventory dropped sharply.

West Palm Beach Q1 2020

West Palm Beach Q1 2020

West Palm Beach Q1 2020

In West Palm Beach, condo price trend indicators were mixed as sales and listing inventory increased year over year. Single-family price trend indicators increased as sales and listing inventory slipped from the prior year.

Boca Raton Q4 2019

Boca Raton Q4 2019

Boca Raton Q4 2019

Boca Raton/Highland Beach condo listing inventory fell year over year for the fifth consecutive quarter. Single-family listing inventory fell year over year in four of the last five quarters.

Coral Gables Q4 2019

Coral Gables Q4 2019

Coral Gables Q4 2019

In Coral Gables, single-family price trend indicators declined year over year as sales expanded, and listing inventory declined. Condo median sales price jumped year over year as listing inventory fell annually for the second straight quarter.

Delray Beach Q4 2019

Delray Beach Q4 2019

Delray Beach Q4 2019

Single-family price trend indicators and sales rose year over year for the third consecutive quarter in Delray Beach. Condo price trend indicators surged, yet average sales size only saw a modest gain.

Fort Lauderdale Q4 2019

Fort Lauderdale Q4 2019

Fort Lauderdale Q4 2019

In Fort Lauderdale, condo sales rose sharply as listing inventory declined year over year for the second straight quarter. Single-family sales and price trend indicators rose higher year over year as inventory declined.

Jupiter/Palm Beach Gardens Q4 2019

Jupiter/Palm Beach Gardens Q4 2019

Jupiter/Palm Beach Gardens Q4 2019

Single-family sales surged as price trend indicators fell short of year-ago levels in Jupiter. Condo price trend indicators saw no annual declines for the second straight quarter. In Palm Beach Gardens, single-family price trend indicators showed mixed results as sales rose above the prior-year level. Condo price trend indicators moved higher as sales surged sharply from the prior year.

Manalapan, Hypoluxo Island & Ocean Ridge Q4 2019

Manalapan, Hypoluxo Island & Ocean Ridge Q4 2019

Manalapan, Hypoluxo Island & Ocean Ridge Q4 2019

In Manalapan, which includes Manalapan, Hypoluxo Island, and Ocean Ridge, single-family price trend indicators showed mixed results as listing inventory declined for the third straight quarter. Condo sales in Ocean Ridge remained limited as listing inventory jumped.

Miami Beach / Barrier Islands Q4 2019

Miami Beach / Barrier Islands Q4 2019

Miami Beach / Barrier Islands Q4 2019

Miami Beach condo listing inventory declined for the second time in the past three quarters. Single-family sales rose annually for the first time in four quarters.

Miami Coastal Mainland Q4 2019

Miami Coastal Mainland Q4 2019

Miami Coastal Mainland Q4 2019

In Miami Coastal Mainland, condo listing inventory declined year over year for the second straight quarter. Single-family median sales price increased to a new record.

Palm Beach Q4 2019

Palm Beach Q4 2019

Palm Beach Q4 2019

Condo price trend indicators in Palm Beach continued to rise year over year as the number of sales declined from year-ago levels. Single-family price trend indicators showed mixed results as sales moved higher year over year, and single-family listing inventory declined for the first time in five quarters.

Boca Raton / Royal Palm Sales Q4 2019

Boca Raton / Royal Palm Sales Q4 2019

Boca Raton / Royal Palm Sales Q4 2019

St. Petersburg Q4 2019

St. Petersburg Q4 2019

St. Petersburg Q4 2019

On the West Coast of Florida, in St. Petersburg, all single-family price trend indicators rose year over year for the sixteenth straight quarter. Condo price trend indicators and the number of sales declined year over year after four straight quarters of increases.

Tampa Q4 2019

Tampa Q4 2019

Tampa Q4 2019

In South Tampa, all luxury price trend indicators moved higher year over year for the second time in three quarters. In Greater Downtown Tampa, the downtown condo market saw year over year growth in both price trend indicators and sales.

Wellington Q4 2019

Wellington Q4 2019

Wellington Q4 2019

In the Wellington market, condo price trend indicators continued to increase year over year as sales fell sharply. Single-family price trend indicators showed mixed results as sales declined.

West Palm Beach Q4 2019

West Palm Beach Q4 2019

West Palm Beach Q4 2019

In West Palm Beach, condo price trend indicators showed mixed results as the number of sales moved higher on a year over year basis. Single-family price trend indicators also showed mixed results as both sales and listing inventory declined year over year.

California Micro Market Report December 2020

California Micro Market Report December 2020

California Micro Market Report December 2020

California December 2020 New Signed Contracts

December - New Contracts

California December 2020 New Signed Contracts

California Micro Market Report November 2020

California Micro Market Report November 2020

California Micro Market Report November 2020

California November 2020 New Signed Contracts

November - New Contracts

California November 2020 New Signed Contracts

California Micro Market Report October 2020

California Micro Market Report October 2020

California Micro Market Report October 2020

California October 2020 New Signed Contracts

October - New Contracts

California October 2020 New Signed Contracts

Los Angeles Q3 2020

Los Angeles Q3 2020

Los Angeles Q3 2020

In Los Angeles, median sales price rose to a new record for the second time in three quarters, and sales surged year over year for the third time in four quarters and more than doubled from the previous quarter. Listing inventory jumped year over year after falling for three straight quarters. Single family median sales price and average price per square foot rose to new records. Luxury single family average price per square foot, representing the top ten percent of sales, also increased to a new record.

Malibu/Malibu Beach Q3 2020

Malibu/Malibu Beach Q3 2020

Malibu/Malibu Beach Q3 2020

In Malibu, single family average sales price surged to a record, aided by an average sales size increase. In Malibu Beach, single family sales more than tripled year over year as listing inventory slipped.

Venice/Mar Vista Q3 2020

Venice/Mar Vista Q3 2020

Venice/Mar Vista Q3 2020

Condo price trend indicators in Venice slipped from year-ago levels despite the blistering market pace. Mar Vista condo median sales price increased year over year to a new record.

California Micro Market Report September 2020

California Micro Market Report September 2020

California Micro Market Report September 2020

California Micro Market Report August 2020

California Micro Market Report August 2020

California Micro Market Report August 2020

California Micro Market Report July 2020

California Micro Market Report July 2020

California Micro Market Report July 2020

California Micro Market Report June 2020

California Micro Market Report June 2020

California Micro Market Report June 2020

California Micro Market Report May 2020

California Micro Market Report May 2020

California Micro Market Report May 2020

California Micro Market Report April 2020

California Micro Market Report April 2020

California Micro Market Report April 2020

California Micro Market Report March 2020

California Micro Market Report March 2020

California Micro Market Report March 2020

California Micro Market Report February 2020

California Micro Market Report February 2020

California Micro Market Report February 2020

California Micro Market Report January 2020

California Micro Market Report January 2020

California Micro Market Report January 2020

California September 2020 New Signed Contracts

September - New Contracts

California September 2020 New Signed Contracts

California August 2020 New Signed Contracts

August - New Contracts

California August 2020 New Signed Contracts

California July 2020 New Signed Contracts

July - New Contracts

California July 2020 New Signed Contracts

Los Angeles Q2 2020

Los Angeles Q2 2020

Los Angeles Q2 2020

After a robust first quarter in Los Angeles, the COVID-19 market shutdown during much of the second quarter, causing sales to see substantial declines. Median sales price edged higher year over year to the third-highest on record—average sales price, average price per square foot, and average sales size all set new records. Sales fell to their lowest number for a second-quarter in eleven years. All single family price trend indicators reached new records this quarter. Luxury median and average sales price for single family sales set new records.

Malibu/Malibu Beach Q2 2020

Malibu/Malibu Beach Q2 2020

Malibu/Malibu Beach Q2 2020

In Malibu/Malibu Beach, despite the COVID-19 shutdown, the drop in sales was more modest than much of the region while Venice/Mar Vista saw more substantial declines.

Venice/Mar Vista Q2 2020

Venice/Mar Vista Q2 2020

Venice/Mar Vista Q2 2020

In Malibu/Malibu Beach, despite the COVID-19 shutdown, the drop in sales was more modest than much of the region while Venice/Mar Vista saw more substantial declines.

California June 2020 New Signed Contracts

California June 2020 New Signed Contracts

California June 2020 New Signed Contracts

California May 2020 New Signed Contracts

California May 2020 New Signed Contracts

California May 2020 New Signed Contracts

Los Angeles Q1 2020

Los Angeles Q1 2020

Los Angeles Q1 2020

After noticeably stronger results in the first two and half months in Los Angeles, listing inventory growth slowed as market awareness of Coronavirus occurred in mid-March. All price trend indicators rose year over year for the fourth consecutive quarter. The number of sales increased year over year for the second successive quarter after six quarters of declines—more than one-third of all listings sold within a month. Luxury listing inventory fell year over year in three of the past four quarters.

Malibu/Malibu Beach Q1 2020

Malibu/Malibu Beach Q1 2020

Malibu/Malibu Beach Q1 2020

In Malibu/Malibu Beach, single-family sales rose sharply year over year as condo sales declined.

Venice/Mar Vista Q1 2020

Venice/Mar Vista Q1 2020

Venice/Mar Vista Q1 2020

In Venice, sales surged across property types as Mar Vista sales fell short of prior year totals.

Los Angeles Q4 2019

Los Angeles Q4 2019

Los Angeles Q4 2019

After six quarters of year over year declines, in Los Angeles, sales increased in the final quarter of 2019. All price trend indicators rose year over year for the third straight quarter. Single-family listing inventory fell annually for the first time after six quarters of gains.

Malibu/Malibu Beach Q4 2019

Malibu/Malibu Beach Q4 2019

Malibu/Malibu Beach Q4 2019

In Malibu/Malibu Beach, sales showed stability or pressed higher year over year across all the market segments.

Venice/Mar Vista Q4 2019

Venice/Mar Vista Q4 2019

Venice/Mar Vista Q4 2019

In Venice/Mar Vista, sales moved higher year over across all the market segments.

Fairfield County, CT Q3 2020

Fairfield County, CT Q3 2020

Fairfield County, CT Q3 2020

In Fairfield County, the three overall price trend indicators reached new record highs in more than sixteen years of tracking. The number of sales rose to the highest total in sixteen years of recording and listing inventory fell at the highest annual rate in twenty-three years, reaching the lowest level in twenty-four years. Luxury listing inventory fell to its lowest level in six years of recording. Luxury sales saw the least negotiability in more than thirteen years.

Greenwich, CT Q3 2020

Greenwich, CT Q3 2020

Greenwich, CT Q3 2020

Single family sales in Greenwich surged to their highest level in at least a decade, and single-family listing inventory fell sharply from the prior quarter. Condo price trend indicators and sales surged from the prior-year quarter. Luxury listing inventory declined year over year for the sixth straight quarter. Back Country showed its fastest-moving pace in at least five years of tracking.

Fairfield County, CT Q2 2020

Fairfield County, CT Q2 2020

Fairfield County, CT Q2 2020

Despite the ongoing COVID-19 crisis, Fairfield County did not see nearly the degree of sales decline observed in New York City. The overall county price trend indicators rose annually for the second straight quarter. Listing inventory fell annually by the highest rate in more than fourteen years of tracking. The single-family market pace moved at its fastest rate in more than fourteen years as well. Condo listing inventory declined at the most significant rate in nearly five years.

Greenwich, CT Q2 2020

Greenwich, CT Q2 2020

Greenwich, CT Q2 2020

Despite the regional slowdown in sales due to the COVID-19 crisis, outbound migration from New York City drove more Greenwich single-family sales. Single-family median sales price rose annually for the third straight quarter while condo price indicators and sales declined year over year.

Fairfield County, CT Q1 2020

Fairfield County, CT Q1 2020

Fairfield County, CT Q1 2020

After noticeably stronger results in the first two and a half months in Fairfield County, full awareness of COVID-19 by mid-March cooled the market. The number of sales has grown year over year at a rising rate for four straight quarters. Listing inventory fell annually for the fourth consecutive quarter at an increasing rate. Median sales price rose year over year for the second straight quarter, and luxury median sales price rose annually for the first time in nine quarters.

Greenwich, CT Q1 2020

Greenwich, CT Q1 2020

Greenwich, CT Q1 2020

The first quarter in Greenwich showed a surge in single-family sales but a decline in their supply by the end of March. The single-family median sales price hasn’t shown a year over year decline in four quarters. Condo sales declined annually for the fourth straight quarter, and luxury listening inventory fell sharply at the end of the quarter.

Fairfield County Q4 2019

Fairfield County Q4 2019

Fairfield County Q4 2019

In Fairfield County, sales expanded and listing inventory compressed year over year for the third straight quarter. Median sales price rose annually after four straight quarterly declines while the number of sales increased year over year for the third consecutive quarter.

Greenwich Q4 2019

Greenwich Q4 2019

Greenwich Q4 2019

In Greenwich, negotiability expanded to the highest level in two years as more sellers became in sync with market conditions. Single-family median sales price jumped year over year as listing inventory declined. Condo price trend indicators and the number of sales declined from year-ago levels.

Colorado December 2020 New Signed Contracts

December - New Contracts

Colorado December 2020 New Signed Contracts

Colorado November 2020 New Signed Contracts

November - New Contracts

Colorado November 2020 New Signed Contracts

Colorado October 2020 New Signed Contracts

October - New Contracts

Colorado October 2020 New Signed Contracts

Colorado September 2020 New Signed Contracts

September - New Contracts

Colorado September 2020 New Signed Contracts

Colorado August 2020 New Signed Contracts

August - New Contracts

Colorado August 2020 New Signed Contracts

Colorado July 2020 New Signed Contracts

July - New Contracts

Colorado July 2020 New Signed Contracts

Aspen/Snowmass Village Q1 2020

Aspen/Snowmass Village Q1 2020

Aspen/Snowmass Village Q1 2020

Aspen listing inventory declined year over year for the fourth consecutive quarter as all price trend indicators surged over year-ago levels. Sales fell sharply year over year to the lowest quarterly total in a decade.
Listing inventory in Snowmass Village declined year over year for the fifth consecutive quarter. Average price per square foot fell while the number of sales surged year over year. The three-bedroom market showed the most annual growth in price and sales trends.

Aspen Q4 2019

Aspen Q4 2019

Aspen Q4 2019

In Aspen, price per square foot moved higher as listing inventory declined across the region. The number of sales showed their first decline after four quarters of annual gains. In Snowmass Village, year to date overall sales and price trends were up, and listing inventory was down. Condo average price per square foot increased year over year for the fifth straight quarter. Single-family listing inventory has declined year over year for three straight quarters.

Houston Q3 2020

Houston Q3 2020

Houston Q3 2020

In Houston, sales surged quarter over quarter, rebounding quickly from the restraint of spring market activity at the onset of the COVID crisis. Single family median and average sales price jumped to new records, and their sales set a new record by more than doubling from the prior quarter after the lockdown ended. Condo price trend indicators rose year over year as the number of sales rose sharply. New development condo sales saw the largest year over year increase in a decade. Upper Market single family sales surged as condos remained stable.

Houston Q2 2020

Houston Q2 2020

Houston Q2 2020

After a robust first quarter in Houston, the COVID-19 market shutdown caused sales and listing inventory to decline. Both property types saw the most significant year over year decline in more than a decade. Listing inventory fell year over year as would-be sellers delayed placing their homes on the market.

Overall median sales price trends showed stability for single families and modest gains for condos despite the pause in the market.

Produced in conjunction with Miller Samuel, a leading independent appraisal firm, our market report series is the benchmark for residential real estate market information and an essential reference source for consumers, the media, financial institutions, government agencies, researchers and other market professionals. Each report provides an analysis of price and sales trends as well as many other metrics to give readers an idea of current conditions as well as historical and emerging market trends.