Q2 2020 Manhattan Market Report

Q2 2020 MARKET UPDATE maNHATTAN Q2 2020 market update what’s inside 3 4 5 6 9 OVERVIEW Marketwide Sales OVERALL Sales by Apartment size data by apartment size for condos and co-ops Methodology triplemint.com i Q2 2020 i MANHATTAN i 2 $1,487,704 $1,655 triplemint.com i Q2 2020 i MANHATTAN i 3 1,621 689 Q2 2020 market update Contracts signed Average price per square foot Number of New Listings MARKET AT A GLANCE Q2 2020 The toll of COVID-19 is evident across most Q2 data points in the Manhattan market. Stay at home orders restricted in-person tours and many potential buyers and sellers paused because of overall market uncertainty. Nevertheless, median listed prices and average price per square foot remained slightly above Q2 2019 and Q1 2020 prices. Sales surpassed 1,200, approximately half of what they were in Q2 2019, and contracts, new listings, and total inventory saw a large decrease year over year and quarter over quarter. Read on for a look at Q2 price points, contracts, and inventory across Manhattan based on home size and type. Total Inventory Overview 1,202 664 Median LISTED Price SALES 11,831 Listings with Price Drops triplemint.com i Q2 2020 i MANHATTAN i 4 Q2 2020 market update MARKETWIDE SALES Q2 2020 VS Q2 2019 Q2 2019 Q2 2020 % Change Average Price per  Sq. Ft. $1,614 $1,655 3 % Contracts Signed 3,062 664 -78 % Median Listed Price $1,483,333 $1,487,704 <1% $1,433,495 $1,487,704 4 % Number of  New Listings 5,178 1,621 -69 % 3,334 1,621 -51 % Listings with Price Drops 4,514 689 -85 % 2,273 689 -70 % Sales 2,476 1,202 -51 % 1,965 1,202 -39 % Total Inventory 17,192 11,831 -31 % 15,868 11,831 -25 % Q2 2020 VS Q1 2020 Q1 2020 Q2 2020 % Change $1,614 $1,655 3 % 2,315 664 -71 % OVERALL SALES by apartment size triplemint.com i Q2 2020 i MANHATTAN i 5 Q2 2020 market update Studio ALCOVE Studio 1 BR Average Price per Sq. FT. $1,254 $1,064 $1,340 Contracts Signed 69 34 237 Median Listed Price $480,558 $542,201 $872,406 Number of New Listings 132 78 576 498 251 99 23 18 Listings with Price Drops 36 35 224 219 106 54 18 13 Sales 76 68 431 396 173 74 13 10 Total Inventory 900 505 3,711 3,796 2,090 1,051 192 161 2 BR 3 BR 4+ BR Single Family MULTI FAMILY $1,613 $2,025 $2,613 $1,952 $1,379 214 81 27 5 11 $1,822,399 $3,477,497 $7,475,414 $9,565,816 $6,117,925 237 triplemint.com i Q2 2020 i MANHATTAN i 6 $2,295 26 1 BR 34 14 $1,613 3 BR 11 27 Co-op 100 $1,379 $1,830 $2,025 $1,619 $1,254 STUDIO ALCOVE 69 1 BR $3,000 $760,000 SINGLE FAMILY 81 Manhattan data by apartment size for condos and co-ops 3 BR 150 $2,696 30 10 $1,490 4+ BR $1,325 2 BR $1,500 $2,000 MULTI FAMILY 2 BR $952 $1,111 $1,000 95 147 121 $1,325 $1,064 Overall ALCOVE $500 Condo $983 $2,500 CONTRACTS SIGNED AVERAGE PRICE PER SQ. FT. $760,000 4+ BR 88 $989 14 5 $2,613 MULTI FAMILY 9 Q2 2020 market update 250 $1,952 214 200 STUDIO 52 $1,811 SINGLE FAMILY 50 61 $1,340 2,121 76 10 370 156 431 265 1000 410 250 617 95 triplemint.com i Q2 2020 i MANHATTAN i 7 3,796 Q2 2020 market update 22 2 BR 46 2000 52 3,711 350 396 50 ALCOVE 1,266 505 $760,000 1,660 MULTI FAMILY 180 SALES SINGLE FAMILY 4000 192 4+ BR 2,035 4+ BR 74 Condo 2 BR Manhattan data by apartment size for condos and co-ops 68 1,618 16 TOTAL INVENTORY 271 900 175 SINGLE FAMILY 29 ALCOVE 800 1 BR $760,000 Co-op 639 13 STUDIO 1 BR 3 BR 218 3 BR 53 161 MULTI FAMILY 173 79 150 STUDIO 3000 450 Overall 1,051 2,090 $721,000 3 BR $2,294,050 $9,565,816 MULTI FAMILY MEDIAN LISTED PRICE Q2 2020 market update $1,000,000 $2,498,093 2 BR $1,376,795 $872,406 STUDIO $542,201 $4,523,049 $500,000 $8,591,060 SINGLE FAMILY $6,117,925 Condo $5,344,326 $520,594 4+ BR $5,000,000 $1,822,399 $705,922 $670,973 Overall triplemint.com i Q2 2020 i MANHATTAN i 8 $3,477,497 1 BR ALCOVE $7,475,414 $409,444 $1,238,233 Manhattan data by apartment size for condos and co-ops $480,558 Co-op $10,000,000 triplemint.com i Q2 2020 i MANHATTAN i 9 Q2 2020 market update Average Price per Square Foot: The average price divided by the average square footage. Contracts Signed: Publicly reported transactions that occurred during the quarter referenced in the report. Listings with Price Drops: Listings whose prices were decreased during the quarter referenced in the report. Median Listed Price: The middle price point when the prices of all inventory are ordered from least to most expensive. Number of New Listings: The number of homes that were listed on the market during the quarter referenced in the report. Quarters: Four three month periods that take place from January - December: Q1: January - March Q2: April - June Q3: July - September Q4: October - December Sales: Homes that sold during the quarter referenced in the report. Total Inventory: All of the listings active during the quarter referenced in the report. Sources: Figures in this report are based on publicly reported data from Automated City Register Information System (ACRIS) as well as proprietary data. METHODOLOGY THE NEW STANDARD OF REAL ESTATE triplemint.com hello@triplemint.com 212.235.1123 220 West 42nd Street, 22nd Floor New York, NY 10036 Copyright ©2020 Triplemint. Equal Housing Opportunity. All material presented herein is intended for informational purposes only. The sources are deemed to be reliable and the information is believed to be accurate, however the material is subject to errors, omissions, changes, or withdrawal without notice. All measurements and square footage are approximations. No statement is made as to the accuracy of any description.