skylight

Third Quarter 2024

Townhouse Market Report

Highlights

Townhouses represent a fascinating segment of the Brooklyn and Manhattan residential real estate markets. Corcoran’s 3Q 2024 Townhouse Reports survey sales of single-family and multi-family townhouses throughout the two boroughs.

Brooklyn key findings:

• In Brooklyn, townhouse sales expanded 9% versus last year, thanks to a 22% year-over-year surge in single-family sales and a 4% gain in multi-family sales.
• Median price held steady, the fourth consecutive quarter without a price decline.
• Single-family average price increased 13% annually to $3.365M, propelled by more activity over $4M

Manhattan key findings:

• The Manhattan townhouse market had its second-strongest quarter for sales in two years as closings climbed 42% annually.
• Overall median price fell 11% year-over-year as activity shifted away from sales over $10M.
• However, overall average price was nearly level with last year, buoyed by a $56M sale on the Upper East Side.

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