Elegran Insights: Weekly Manhattan Market Data For The Week of 04/12/21

Written By Jared Antin | April 12, 2021 | Published in Real Estate Market Trends, Elegran Insider
2021%2f04%2f12%2f15%2f32%2f47%2f1e698b22 a545 4eba 90d4 9ed5a88021e3%2fscreen%20shot%202021 04 12%20at%2011.31.19%20am

The first full week of April brought the sixth week in a row of more than 300 contracts signed. Additionally, new supply this week increased 55% from last week. Nevertheless, the Market Pulse has risen to 0.62 given the robust buyer activity.


Supply increased by 8 units this week to 6,974. This week, 558 new listings came to market, a 55% increase from last week and a 12% increase from the same week in 2019.

Pending Sales increased more than 4% to 4,338 setting a new record for the third week in a row.

Contracts Signed - 338 contracts were signed this week, a 3% decrease from last week and 33% increase from the same week in 2019.

Weekly Contract Activity Analysis - Of the contracts signed this week, and based on the last asking price, the median price was $1.28M and the median size was 1,200 square feet.

The Weekly Market Pulse was 0.61 this week, a decrease from last week given the influx of new inventory.

New Development Insights

As reported by Marketproof, 91 new development contracts were signed this week, a slight increase from last week. This week, on a proportional basis, more contracts were signed in Manhattan and Queens compared to the average in March. Additionally, of the contracts that were reported this week, 38% were for 1-bedroom and 25% were 3-bedroom apartments, both above the average in March.

The following were the top selling new developments in March:

  • Prime LIC in Long Island City reported 4 new contracts signed.
  • 40 Bleecker in Noho reported 5 new contracts.
  • Madison House in Nomad reported 4 new contracts.
  • Lantern House in West Chelsea reported 3 new contracts.

Please contact me if you would like to learn more about these, or other new developments.

We will continue sharing the Elegran Insights data analysis with you every week.

If you are interested in learning more about what is possible in today’s market and what the data means for you, I am available for a confidential complimentary assessment and consultation.

Blog Archive


This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. © 2021 REBNY Listing Service, Inc. All rights reserved. RLS IDX Data display by Elegran LLC. IDX information is provided exclusively for consumers’ personal, non- commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Elegran LLC may or may not be the exclusive listing agent of the properties being displayed on Elegran.com. All data displayed on Elegran.com is presented for informational purposes only and should be independently confirmed by all customers. All Information is compiled from both public and private sources including, but not limited to the RLS, MLS and ACRIS; each of which is assumed to be reliable. All information displayed is subject to errors and omissions regarding apartment specifications and final sale prices, and further, any unit listed may have had its listing withdrawn without notice subsequent to such information being compiled. No representation is made as to the accuracy of any description (ie: listing, close sale data, and/or building description) of any building or individual unit. All measurements and square footage are approximate and all information herein should be confirmed by customer and/or their attorney. Elegran LLC, its members, affiliates, and contributors adhere to New Your City, New York State, and United States Fair Housing Laws.