Q3 2020 Manhattan Market Report

Q3 2020 MARKET UPDATE maNHATTAN Q3 2020 market update what’s inside 3 4 6 7 11 OVERVIEW Marketwide Sales OVERALL Sales by Apartment size data by apartment size for condos and co-ops Methodology triplemint.com i Q3 2020 i MANHATTAN i 2 $1,338,000 1,437 triplemint.com i Q3 2020 i MANHATTAN i 3 4,636 $1,601 Q3 2020 market update Contracts signed SALES Q3 Manhattan numbers show a lift in activity among buyers and sellers alike, with huge quarter over quarter increases in number of contracts signed and listings hitting the market. While sales are up 20% since Q2, they remain down year over year. As a result, sellers have adjusted their expectations on price points resulting in a quarter over quarter and year over year dip in median listed prices and price per square foot. For those looking to buy, now is an excellent time to invest due to low price points and interest rates. MARKET AT A GLANCE Q3 2020 AVERAGE PRICE PER SQ. FT. Overview 1,665 15,011 Median LISTED Price TOTAL INVENTORY NUMBER of NEW LISTINGS triplemint.com i Q3 2020 i MANHATTAN i 4 Q3 2020 market update MARKETWIDE SALES YEAR OVER YEAR Q3 2019 Q3 2020 % Change SALES 2,884 1,437 -50 % Contracts Signed 2,655 1,665 -37 % Median Listed Price $1,395,000 $1,338,000 -4 % $1,487,000 $1,338,000 -10 % Average Price per  Sq. Ft. $1,635 $1,601 -2 % $1,655 $1,601 -3 % NUMBER OF NEW LISTINGS 4,204 4,636 10 % 1,621 4,636 186 % Total Inventory 18,201 15,011 -18 % 11,831 15,011 27 % QUARTER OVER QUARTER Q2 2020 Q3 2020 % Change 1,202 1,437 20 % 664 1,665 151 % MARKETWIDE SALES 15,011 Q3 2020 1,202 Q2 2020 Q3 2020 market update 1,621 Q2 2020 -2% Year Over Year Change 1,437 Q3 2020 $1,655 Q2 2020 664 Q2 2020 median listed price $1,338,000 Q3 2020 $1,601 Q3 2020 contracts signed $1,487,000 Q2 2020 -18% Year Over Year Change 4,636 Q3 2020 +27% Quarter Over Quarter Change SALES -10% Quarter Over Quarter Change $1,395,000 Q3 2019 number of new listings 11,831 Q2 2020 +20% Quarter Over Quarter Change -50% Year Over Year Change 4,204 Q3 2019 $1,635 Q3 2019 triplemint.com i Q3 2020 i MANHATTAN i 5 -37% Year Over Year Change TOTAL INVENTORY -4% Year Over Year Change +10% Year Over Year Change +151% Quarter Over Quarter Change 18,201 Q3 2019 2,655 Q3 2019 2,884 Q3 2019 -3% Quarter Over Quarter Change 1,665 Q3 2020 average price per sF +186% Quarter Over Quarter Change OVERALL SALES by apartment size triplemint.com i Q3 2020 i MANHATTAN i 6 Q3 2020 market update Studio ALCOVE Studio 1 BR SALES 99 71 507 Contracts Signed 128 98 625 Median Listed Price $456,566 $557,098 $848,183 Average Price per Sq. FT. $1,216 $1,092 $1,358 $1,569 $1,979 $2,431 $1,881 $1,353 Number of New Listings 400 262 1631 1491 623 289 45 43 Total Inventory 1,110 711 4,929 4,653 2,292 1,280 231 176 2 BR 3 BR 4+ BR Single Family MULTI Family 458 187 98 10 7 508 200 74 12 13 $1,695,787 $3,435,168 $7,001,218 $8,948,250 $5,264,793 458 triplemint.com i Q3 2020 i MANHATTAN i 7 99 SINGLE-FAMILY 2 BR 46 128 508 105 98 95 600 500 400 300 200 100 0 ALCOVE STUDIO 200 MULTI-FAMILY 75 STUDIO Condo MULTI-FAMILY 3 BR 4+ BR SINGLE-FAMILY 12 21 13 61 Co-op 219 Q3 2020 market update 82 STUDIO 98 38 625 ALCOVE STUDIO 29 239 20 210 Manhattan data by apartment size for condos and co-ops 7 275 79 394 CONTRACTS SIGNED 10 507 189 2 BR 54 284 3 BR 109 74 1 BR 4+ BR Overall SALES 1 BR 100 187 260 17 32 71 800 700 600 500 400 300 200 100 0 $1,275,974 Co-op 3 BR $8,213,318 $2,297,168 $515,654 STUDIO MULTI-FAMILY $3,435,168 Q3 2020 market update $848,183 $456,566 $7,001,218 Manhattan data by apartment size for condos and co-ops 2 BR $411,778 $1,208,306 $4,692,600 triplemint.com i Q3 2020 i MANHATTAN i 8 $712,725 ALCOVE STUDIO MEDIAN LISTED PRICE $8,948,250 Overall $557,098 Condo $1,695,787 $2,269,006 $655,659 $701,128 $5,264,793 4+ BR $4,135,233 1 BR $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 SINGLE-FAMILY 262 AVERAGE PRICE PER SF 3 BR Q3 2020 market update MULTI-FAMILY 623 $1,288 2,000 1,500 1,000 500 0 SINGLE-FAMILY 4+ BR 71 Condo 710 $2,614 4+ BR 323 $1,603 $1,440 156 $928 1,631 Co-op 43 $2,431 311 $1,318 283 Manhattan data by apartment size for condos and co-ops $1,216 1,491 2 BR $1,979 $1,856 121 $1,042 ALCOVE STUDIO STUDIO $1,353 289 1 BR 131 $2,124 $1,752 1 BR $1,881 $1,358 $1,092 3 BR $941 400 Overall SINGLE-FAMILY MULTI-FAMILY STUDIO 45 191 number of new listings 939 685 759 $1,569 triplemint.com i Q3 2020 i MANHATTAN i 9 ALCOVE STUDIO 2 BR $1,122 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 Manhattan data by apartment size for condos and co-ops 4,929 711 SINGLE-FAMILY 3 BR triplemint.com i Q3 2020 i MANHATTAN i 10 506 1,280 1,327 Condo 2,292 2,251 195 STUDIO Overall 1 BR 4,653 ALCOVE STUDIO Q3 2020 market update MULTI-FAMILY 2,403 542 2,811 793 951 2 BR 231 176 1,110 4+ BR 347 Co-op 5,000 4,000 3,000 2,000 1,000 0 TOTAL INVENTORY 735 2,144 triplemint.com i Q3 2020 i MANHATTAN i 11 Q3 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. 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 1500 Broadway, Suite 501 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.