Luxury Market:
23 properties, $4M and up, went into contract last week. Impressive for a pre-holiday week. 16 condos, 3 coops, and 4 townhouses made up the listings. All 16 condos were in new development condos.
Supply:
178 units came onto the marketplace last week. A 6.8% drop from the week before and a much lower number than we're used to seeing during this Covid recovery market. For the first time in a long while new supply dipped under 200 for the week. Although, a conventional trend for a pre-LDW/end of summer week.
Pending Deals:
205 units went to contract last week--very impressive for this time of year and this marks the 3rd week in a row of contracts-signed outpaced supply! Data like this shows the hunger and urgency of buyers to put units into contract. Looking at the rolling 30 days numbers --it shows the overall trend of units going into contract outpacing supply, handley. Just incredible. We'll see in the coming weeks if supply can start to claw back and rise to buck this trend or will price points start to be less of a hurdle for buyers (as they are right now) and start to rise.
Rolling 30 Day #'s:
981 units released to market over the last 30 days.
1071 units went to contact over the last 30 days.
699 units were taken off the market over the last 30 days.