Our Q4 2021 Manhattan Market Report

Our prediction of a robust fourth quarter for the Manhattan real estate market was right on the money (pun intended).  At nearly $7 billion, condo and co-op sales volume was the highest of any Q4 on record.  Overall, 3,445, apartments were sold, the highest total for a fourth quarter since 2013. 
The average price for a condo increased 7.2% year-over-year, while the price for a co-op was up 6.7%  on average.  Discounts remained low, holding at 6%.

So what's in store for 2022? Despite the twists and turns wrought by Covid, we see the wave of activity continuing. With strong current demand, a new administration, high vaccination rates, low interest rates, the return of foreign buyers, and New York's reputation as a world-class city like no other, we expect to be busy this year.

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