Q2 2024 Townhouse reports for Manhattan & Brooklyn
Townhouses are a fascinating segment of the Brooklyn and Manhattan residential real estate markets that we love. The Comitini team specializes in these rare and often historic homes. We follow the market through the deep understandings of Corcoran’s Townhouse Reports that survey sales of single-family and multi-family townhouses. I would love to discuss how the market trends may have affected your particular home's value in your particular neighborhood, and glad to share our expertise, just ask me! We offer homeowners both instant home valuations and a more accurate in-home assessment by appointment. Reach me by email or phone (917) 439-3856 to schedule one.
What's happened to the Townhouse Market during the first half of 2024?
Manhattan highlights:
- Manhattan had just 48 townhouse sales during Second Quarter 2024, a 9% year-over-year increase and the strongest quarter for townhouse sales in nearly two years.
- Median price of $6.775M reached its highest level in five quarters mostly due to a 50% annual increase in sales between $5M and $10M.
- Average price fell 18% year-over-year compared to last year’s near record high.
Brooklyn highlights:
- Brooklyn had 215 townhousesales during Second Quarter 2024, a 26% drop compared to Second Quarter 2023. Single-family sales decreased 10% and multi-family sales were 30% lower.
- Multi-family median price remained level year-over-year at just under $2M, while average price per square foot increased 6% to just over $800.
- Single-family average price increased 34% annually to $3.27M, propelled by nine sales over $5M compared to five in Second Quarter 2023.
