New York Feb. Market Update

The weeks are flying by in 2024, but the NYC is keeping up! As we welcome March, and the beginning of spring, let’s look back at NYC’s strong new development activity in February.

• Deal volume rose by 21% from January, the third consecutive month of increases.
 

• Total dollar volume dipped by 15%, largely due to contracts on ultra-luxury units that elevated previous figures.

• The luxury market saw a 10% increase in deal volume from last month but a 35% drop in dollar volume with lower priced unit contracts.
 

• February 2024 saw a 12% volume increase compared to February 2023.”

If you have any questions about the NYC market, contact me here.

Statistics courtesy of MarketProof.