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We ranked the top Manhattan residential brokerages by dollar volume of listings
In a one-day snapshot in early January, Douglas Elliman had the most for-sale product with $5.31 billion across 1,187 listings
On Jan. 2, The Real Deal took a one-day snapshot of thousands of active listings on On-Line Residential to determine which New York City brokerages had the greatest dollar volume of for-sale properties on the market. We then shared that information with the firms, most of which sent us deals to help fill in our findings. The goal was to get a window in the battleground for listings, the gateway drug to the Holy Grail: a closed sale.
Despite finishing second on the more-coveted closed sales ranking, Douglas Elliman clocked in at No. 1 on this line-up with 1,187 listings valued at $5.31 billion, up 2 percent from $5.2 billion in May 2016, the last time TRD published its ranking. Those listings included new developments like 432 Park and Ian Schrager’s 160 Leroy, as well as such pricey resales as an $80 million Upper East Side townhouse at 8 East 62nd Street.
The Corcoran Group, meanwhile, took the No. 2 spot, amassing 871 listings totaling $4.13 billion.
Those two heavy hitters were followed by Sotheby’s International Realty (with 321 listings valued at $3.45 billion), Compass (with 699 listings valued at $2.29 billion) and Brown Harris Stevens (with 332 listings valued at $2.02 billion).
Together, the top 12 brokerages had 4,403 listings valued at a total of $20.6 billion — a 27 percent increase from 2016’s $16.2 billion and up 65 percent since 2015’s $12.5 billion.
The average listing price for those firms was $5.2 million, up 18 percent from $4.4 million in 2016 and up 30 percent from $4 million the prior year.
Read more on the subject in the February issue here.