Why New York Listings are on the Decline

March 31, 2020
Share this Post: 

Listings in Manhattan have significantly dropped since the stay-at-home order was officially put in place. 

Premier property portal, UrbanDigs, reported the number of contract signings and new listings has fallen greatly when compared to the same time last year, and listings have been taken off the market more often and faster since the beginning of the month than what was expected. Specifically, the portal reported an 85% decline in listings from 2019

Though the number of those staying inside because of quarantine means that more users are online than normal, portals are reporting less traffic compared to the same time last year and dwindling listings that only seem to trickle down. 

The market is struggling and as the world deals with the consequences of the novel COVID-19 virus, the numbers are expected to ebb and flow. But US consumers are resilient and though things are dipping now, online marketplaces are keeping hope that that resilience lasts these next trying days. 

March 31, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Zillow Housing Data
Zillow Rolls Out AI-Assisted Home Tours Nationwide

Home shoppers across the U.S. can now tour homes virtually using Zillow's free, AI-generated floor-plan tool. Zillow's AI-generated floor plan is...

Read More
Scout24 Boardroom
Scout24 Revenues Grow 15% in Q2 as User Subscriptions Grow to Nearly 300,000

Scout24, Germany's dominant portal, has released its half-year results, with strong performance across the board. Highlights include: Revenue growth of...

Read More
Shutterstock 1356000662
REA Group Smashes A$1 Billion Revenue Barrier as it Capitalizes on 'Buoyant Listings Environment' in FY22

The Australian real estate portal operator REA Group has released its report for the 2022 Australian financial year. Highlights from...

Read More
Shutterstock 502750987
Opendoor Gets Fined $62m, Partners up with Zillow

Opendoor—an iBuying specialist based in the US—has been fined by $62 million by the FTC for misleading customers and posted...

Read More

Editor's Pick