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- This month saw co-ops take the highest percent of sales (60%) compared to condos since January 2012.
- Contracts signed market-wide are down 6% year-over-year overall, but again split by market: condo sales are down 19% while co-op sales are up 5%.
- Strong year-over-year price growth resumed in the condo market; median price, average price, and average price per square foot all saw double-digit gains. Condo inventory contains disproportionately large and expensive units, driving down the number of sales. This month saw 29% fewer sales than last month, a higher-than-average drop from October to November.
- The co-op market continued to see steady overall price growth since last November with price per square foot up 4% and average price up 11%. Listed inventory is flat versus last year but down 8% versus last month, reflective of the increase in sales.
- Brooklyn average sale price increased 20% year-over-year, the 22nd consecutive month of positive growth. Median sale price increased 8% year-over-year.
- Brooklyn saw a notable 35% increase in contracts signed, in contrast to the 19% decrease in Manhattan contract activity during the same time.
- 64% of buyers paid at or above asking price in November.
- Days on market from list to sale continued to shrink, decreasing by 5% compared to last November.
- Year-over-year total available inventory in Brooklyn increased 19% and new listings increased 30%.
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