Key Takeaways
- Overall: Though both significantly behind 2019, Brooklyn residential real estate sales performing better than Manhattan pre- and post-March 2020.
- Manhattan Listings: The rate at which listings came on the market in Manhattan in June and July accelerating sharply. Look for the cumulative number of new listings in 2020 to catch 2019 in September or October.
- Brooklyn Listings: Just like in Manhattan, the rate at which listings came on the market in Brooklyn in June and July accelerated sharply. Where Brooklyn differs from Manhattan is the cumulative number of listings in 2020 has not fallen behind 2019 and is actually keeping pace.
- Manhattan Sales: Whereas in 2019 Manhattan saw a consistent pace of sales, 2020’s pace has not returned to pre-March levels. Look for the pace of sales to continue at current levels through the end of the year.
- Brooklyn Sales: Brooklyn had strong sales in 2019 and Brooklyn’s 2020 recovery has been stronger than Manhattan’s.
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