Leave a Message

Thank you for your message. We will be in touch with you shortly.


Manhattan Q1 Report For The Year 2023

Mackay|Dixon Team|April 4, 2023
Share this on:




“The market continues to transition out of the pandemic-era boom a year ago with lower sales and modest inventory growth as mortgage rates are more than double last year's.”

- Median sales price slipped year over year for the second time since the pandemic era began but remained slightly above pre-pandemic levels

- Listing inventory was nearly flat as compared to the year-ago quarter and slightly less than the five-year quarterly average

- With lower sales coming out of the pandemic boom, the pace of the market has been at its slowest rate in two years

- Co-op listing inventory declined annually and was slightly less than the five-year quarterly average

- Condo listing inventory edged higher for the fourth consecutive quarter to a level consistent with the five-year average

- The market share of luxury bidding wars rose to a new record as price trend indicators showed mixed annual trends

- Listing inventory expanded annually for the third consecutive quarter

- While the luxury median sales price declined annually, the luxury condo median sales price rose as the luxury co-op median sales price declined.

- New development sales as a percentage of all sales had the smallest market share in four years

- The average new development sales square footage was the smallest since 2008



Find your dream home with the Mackay Dixon Team!

View All Homes

Work With Us

The Mackay Dixon Team is adept at guiding people through the often-stressful financial decisions that need to be made when buying or selling a home.

Contact Us