Keller Williams 2Q 2023 Manhattan Market Report

Buyers returned to the Manhattan markets in Q2, driving both deal volume and price action trends higher, especially on a quarter to quarter basis. Median sales prices came in lower just under 3% from a year ago, but powered ahead 10% from the previous quarter. Price per square foot trends, often viewed as a more reliable indicator of price action over time, rose 1.5% from last quarter and came in virtually flat, down 0.3%, from the year ago period. Buyers are bidding and rewarding turnkey, premium products, helping to push up price action in the quarter.